Letting Agent on T1 Visa - 200K

[MTZ510]

Hi,

I want to know whether one can be a letting or estate agent on T1 Entp 200K visa ?

Thanks

[Darvesh]

no restriction on business nature under 200k T1E. so u can do Letting business if u like.

[MTZ510]

no restriction on business nature under 200k T1E. so u can do Letting business if u like.

Thanks for replying, well my freind asked me and i was bit confused as i mixed it up with property business.

One more confirmation required is that if he buys a business premises from where he will run the letting agency will this be counted as investment?

Thanks

[Olasunkanmi]

@ MTZ510, You cannot buy a property for the purpose of refurbishment and management/letting and then use to claim investment points under the Tier 1 entrepreneur visa either through 50k or 200k route.

The other form of property that could be used for business purpose are those bought with the intention of rebuilding/reconstruction as this will meet the requirement that only property construction is allowed and not property refurbishment/letting or management.

Policy guidance, paragraph 67 state as follow;
67. The amount of money invested should not:
• include the value of any residential accommodation or property development, or property management; or

[MTZ510]

Thanks for replying.

So even buying a property for use it as office is not allowed?

[Darvesh]

why not ? as u buying property for the purpose of running business and it will be a commercial premises so it shud not have been a problem.

[kayess1984]

Thanks for replying.

So even buying a property for use it as office is not allowed?

You can buy commercial property under Tier 1 as part of your investment. You can also take a loan for the property and only the money invested by you will be considered as an investment by the UKBA.