Buy shares and become director on Tier 2 Visa

[sunnyreddy]

Hi Folks,

I am currently on Tier2 (General) visa and would like to buy shares and also become one of the executive directors in the company for which I currently work and it is the company that sponsored me for the visa.

As I understand on Tier 2 (General) visa, it is not allowed to own more than 10% of the shares. Here I'm planning to buy around 20% shares. I have read on switching to Tier 1 (entrepreneur) visa which needs access to £200,000 however the shares I am planning to buy are around £130,000 and this route seems not possible.

If there is no other alternative, I could buy only 10% of the shares. However I would have additional responsibilities on top of my current ones and also be appointed as one of the directors. Can I categorise the additional responsibilities as voluntary work? for which I do not need to notify UKBA.

Any ideas would be greatly appreciated.

Many Thanks.

[iworker]

you can use a dependent to buy another 10% shares?
Also once u become a director, you will have to get a new visa as well as you SOC code will change.

[sunnyreddy]

Thank you. Dependent is a good idea.

Can the new visa be applied straight away as I am changing job in same company or do the company need to advertise for job, etc. to conduct resident labour market test?

[iworker]

RLMT needs to be done.