change of route to 200k from 50k

[Celina]

HI EVERYONE .

Was curious to know that has anyone changed their route from 50k to 200k half way through the visa time ? is it allowed ?
if so whats the procedure ?

its just that I now have access to 200k due to inheritance money which i didnt had before , please if anyone can shed some light on this it will be really appreciated .

Thanks
Celina .

[attahaas]

Hi Celina,

Why do you want to change the route when you already have a valid Tier 1 Entrepreneur visa?

Once you get the visa there is virtually no difference between 50K and 200K routes (except for the NQF level 4 thing which is being debated by a lot of visa holders if it is required for extension or not). If you just want to invest more money into your business, no one is stopping you from it. You can invest as much as you can above 50K or 200K as applicable.

[Olasunkanmi]

@ Celina, if you decide to now invest 200k in your business rather than the 50k you initially planned for, then you will have more flexibility in the business you can do apart from property management.

You can also use the 200k funds to your advantage if you can employ 10 full-time workers for a year each within the first 3yrs of your visa, then you will be able to get your ILR straight away rather than extending for another 2yrs.

[Celina]

Hi Olasunkanmi ,

Yes i agree with you that with 200k we can do any business and have faster access to ILR if we follow the rules and regulations mentioned in the guidance.

The only thing I want to know is has anyone done this before ? If yes whats the procedure and outcome ?. Or if you can please guide me how to appraoch or will it be sensible to do it ? I plan to do diffrent business altogether if I am granted with 200k , I hope that does not create a bad impression of my status with UKBA ? Can anyone please give their views regarding this ?

Thanking you ,
Regards
Celina

[Olasunkanmi]

@ Celina, HO will be more than happy if you decide to show investment of 200k rather than 50k, there is no rule for changing your mind and you don't need to inform HO at all. You just have to invest the 200k and show HO during your extension. The main rule of the entrepreneur visa is the investment of 200k and the privilege of showing 50k is only restricted to few people and if you now decide to invest the full 200k, then its your choice.