softwareluv wrote:Is it necessary for employee to be british national? Can I employ EU nationals?

Yes

At the time of extension, do we only have to submit final accounts for each period? How detailed do the accounts have to be? Also, do we have to provide bank statements only for months in which investments were made?

Thank you for your help.

Wonder if this will impact extension applications as well. There is so much uncertainty regarding this route, which makes it hard to focus fully on the business.

Ok, would you be able to share his details?

Any recommendations?
I've met a few so far, but they aren't sure about the content of the letter that Home Office requires.

Yes, an unsecured director's loan or shares are both ok.

According to the guidance, a passport and a birth certificate prove right to work in the UK. Do we have to provide both, or will a passport be enough? From the case worker's guidance: The applicant must provide a copy of the employee’s:  passport, including the page containing the employee’s person...

^^ There seems to be a lack of clarity about whether the entire investment has to be spent.

Was this due to the large amount of investment funds?

You can also read the guidance for caseworkers from December 2014 here: https://www.gov.uk/government/uploads/s ... .0_EXT.pdf

Yes, but first you would need to transfer 50K/200K to your account. If you use that to pay your staff, then the amount will be considered spent.

Just an update- My friend who is planning to apply for this visa emailed HO twice, and she asked whether all the investment has to be spent by the business very clearly in both the emails. However, HO did not comment on the spending part both times. They repeated the same thing- that you must invest...

Just an update- My friend who is planning to apply for this visa emailed HO twice, and she asked whether all the investment has to be spent very clearly in both the emails. However, HO did not comment on the spending part both times, they repeated the same thing- that you must invest the 50K or 200K...

they normally ask in interview too that how you support yourself while your new business is in progress. So better not take any risk and give them chances to create another issue. That's a question about a slightly different issue....because it takes a while before the business makes a decent incom...

@ whiteroses, you need to show your audited or unaudited account during extension and all records of investment funds and revenue are usually separated in the account. But don't forget that you as a director cannot count your salary with investment funds, so you shouldn't have any problem different...

....drawing any salary from you company? People on various threads have been saying that if you pay yourself a salary from your company's revenue, then HO will deduct that amount from any amount you have invested. So if your share capital is £50,000 and you pay yourself a salary from revenues of £20...

ishfaqsangra wrote:Yes: Thats the method which accountant should adopt and then confirm the net investment

I don't think so.
If a business makes a profit of 20,000 and you pay yourself that 20,000, I don't think the net investment becomes 50000-20000.
HO doesn't expect you to retain all the profit in the business.

Momi wrote:1st and 2nd question: a big NOOOOO
3rd: you can't get extension on below level 4 job if you are on 50k route.

Directors may take out a salary..especially if the business is making profit.

hello guys... it was only a verbal warning, not that he mentioned anything on my passport. In terms of employment he was like you should have employed 2 in the first year and i challenged saying that its not the first year but in the first 3 years.... which he rudely replied ''should I print the te...

How will the HO distinguish between funds taken out from the investment and funds taken out from revenue?

hello guys.... just came back from Pakistan last week after 3 weeks. Thought I should update you on the questions asked by the immigration officer. What do you do in London? What kind of business you run? Have you got clients? How much have you invested so far? When will the rest be invested? Have ...

Why does your accountant feel shares are a better option? Did he give a reason?

From latest guidance for caseworkers (18th December) ‘Investment in property development and property management’. The second half of this section has been re-written. An applicant is permitted to invest in:  a company that is mainly involved in construction  a decorating business if they do not o...

There are no changes regarding money used. I just thought I would link the updated version here as it still says what you quoted from the previous one.

https://www.gov.uk/government/uploads/s ... .0_EXT.pdf

Updated on 21 November.