Director's Loan issue

[pichas]

Hi all,

Is it better to invest Director's loan on installments or in one go?

Does the bank allow to invest 30K at once from personal(HSBC) to business(Barclays) or has to be invested on 10K installment or such?

If invested on 3 installments within a month, do we need to prepare 3 Director's loan agreements?

Please shed some lights on it

Thanks

[zimba]

Hi all,

Is it better to invest Director's loan on installments or in one go?

Does the bank allow to invest 30K at once from personal(HSBC) to business(Barclays) or has to be invested on 10K installment or such?

If invested on 3 installments within a month, do we need to prepare 3 Director's loan agreements?

Please shed some lights on it

Thanks

These are not immigration related questions. It is entirely up to you how to invest, transfer money and prepare your loan agreement as long as you meet the HO criteria. Your agreement terms should cover what HO wants and what you plan to do. Consult a business solicitor or advisor.

[business genius]

Can some one share the director's Loan template so that we can cross check to avoid any error or mistake.Because home office is efficient to refuse extension just because of minor errors.

[zimba]

Can some one share the director's Loan template so that we can cross check to avoid any error or mistake.Because home office is efficient to refuse extension just because of minor errors.

The guide and immigration rules are clear what you need to send and expect. However a loan agreement and its terms should be tailored based on the nature of your company and what you want to put in there. Please consult a business solicitor to draft a document that suits you and your business while considering HO requirements for your extension.

[business genius]

Thanks Zimba88, I will definitely use business solicitor but some times they just consider standard requirements not home office.like accountants doing a standard set of accounts while home office wants specific documentation