Entrepreneur Business at loss and extension chances

[helpingperson]

Hi

Please your comments on below points:

1- For Tier 1 Entrepreneur visa, is it compulsory to be profitable at the end of 3 years for extension?


2-If business is at loss for first 3 years as it is start time but generates profit it 3rd year, will this be fine for extension?


3-If business is at loss for all 3 years, but you still have funds to run it and plan to make it profitable in coming years, can you still get extension?

Thank you.

[Sandeep0041]

I believe UKBA doesn't consider profit/loss. It's just that you should meet their conditions for extension.

1) Should have invested 50K/200K £ in 3Y
2) Should have created employment for 2 settled people
3) currently running a business

UKBA can't decide on losses. As in the case of any businesses, loss is just an outcome as much as profit is.

[helpingperson]

I believe UKBA doesn't consider profit/loss. It's just that you should meet their conditions for extension.

1) Should have invested 50K/200K £ in 3Y
2) Should have created employment for 2 settled people
3) currently running a business

UKBA can't decide on losses. As in the case of any businesses, loss is just an outcome as much as profit is.

Hi Sandeep,

Thank you. It makes sense.

[Olasunkanmi]

@ helpingperson, as long as you submit all your business financial accounts/reports for your extension HO doesn't care if you make profit or loss. Your accounts just need to be in order.

They know that not all start-up business survives their first few years.

But you should have invested 50k/200k and created the required job to be able to extend your visa.

[helpingperson]

@ helpingperson, as long as you submit all your business financial accounts/reports for your extension HO doesn't care if you make profit or loss. Your accounts just need to be in order.

They know that not all start-up business survives their first few years.

But you should have invested 50k/200k and created the required job to be able to extend your visa.

Hi Olasunkanmi,

Thank you for clarifying this.