Can Entrepreneur Visa Team Members SPLIT UP

[PunjabiMunda]

Dear Gurus?

Can Entrepreneur Visa Team Members SPLIT UP after visa grant????

Me and my friend applied for Entrepreneur Visa as team; Fortunately I was granted visa however my team member was refused. UKVI has given him notice to leave UK thus he has approached higher courts for judicial review however I don't think he is gonna win this case.

The problem here is we both are directors and equal shareholders of the firm; I have asked my friend to resign from directorship and sale his shares to me because of his legal status in the UK. My friend has refused to do any such thing and refusing to give me access to the company accounts or to any company paperwork / documents.

Now I have decided to resign myself from the company and sale my shares to my team member and open up a new company.

I am worried about my status if I resigns from the company and start a new business.???


Can I do this Gurus????

[Olasunkanmi]

@ PunjabiMunda, you have asked your friend/business partner whose case is still at the court to resign from the same business which is the basis of his appeal. How unfair of you.

Do you realise how cross I will be with you if I was your supposed friend.

You have already got your own visa, and under the Entrepreneur visa rule, you have the choice of forming your own company as a new business and also extending your visa on your own as a sole applicant without the need of creating additional problems for your friend who is already in a very difficult situation.

Since you have already decided to split up with your friend, you only need to find your own 50k or 200k investment funds and invest in your own new business and both of you will then be happy without creating unnecessary problem for each other.

[PunjabiMunda]

@ PunjabiMunda, you have asked your friend/business partner whose case is still at the court to resign from the same business which is the basis of his appeal. How unfair of you.

Do you realise how cross I will be with you if I was your supposed friend.

You have already got your own visa, and under the Entrepreneur visa rule, you have the choice of forming your own company as a new business and also extending your visa on your own as a sole applicant without the need of creating additional problems for your friend who is already in a very difficult situation.

Thank you for your reply. I am so sorry for not explaining the circumstances openly.

Brother I am not ditching my friend and colleague actually our differences are related to our business not personal. We both don't have any monies problem He has access to 50k. Actually I want to change the business line which he is not allowing. He is neither allowing me to invest and run business nor he is doing ... His view is to invest after getting visa. He is thinking his monies would be wasted if he doesn't get visa. Our business is going in loss, no sales is being generated. He is thinking since you have got visa on the same company therefore changing company business and name would affect his application which is wrong.

If I don't resign from the company then being company owner I might have to suffer loss and will be held responsible for all company liabilities including bank loans. I know very well my company condition, it has not been managed well This issue is making me worry. Therefore I need your help and advice on If I resign from the company today and open up a new company and invest my 50k in that new company.

Am I allowed to do this? (Opening a new company and resigning from the company which were used to get visa)

Would there be any negative effect on my visa status?

[Olasunkanmi]

@ PunjabiMunda, you are allowed to open a new business as long as you dont go against the conditions of your visa.

Check the following paragraphs in the Policy guidance;

89. We recognise that you may have moved on and no longer be engaged in the business in
which you were originally working when you first entered the Entrepreneur category, but we still require evidence that you were engaged in business within six months of entering the route.

66. We recognise that, as an entrepreneur, you may have moved on to other activities and no longer be involved in the business in which you initially invested, but we still require this evidence to show that the money was invested.

82. We recognise that, as an entrepreneur, you may have moved on to other activities and no longer be involved in the business in which you initially invested, but we still require this evidence to show that the money was invested.

[raja1985]

hi

need advice on spliting team member\

i have my team member got T1 E visa on the basis of 200k.

Now his 10 years getting complete but my one year still left to complete my 3years.

needs advice how to split? if seperated what about the investment??how to split investment??