Business Partner

[vsing012]

Hi Friends,

Please could you help me with my below queries?

I got a Entrepreneur visa with my partner with 50k route. we got visa in May 2014.
Since that time I have invested 50 k in our business. But my partner didn't transferred any money to business account and he is not involved in any business activity. But still he is a director .

- When I will extend my visa will that be a problem If i visa my self only ?

- Will HO ask me about my partner during extension ?

- If I want to remove my partner as a director from the company how can I remove?

Thanks for your reply in advance.

[zimba]

Obviously when you partner up with someone, you need a business solicitor to draft a legal agreement clearly stating that in case a party is not active in the business, s/he will be demoted as a director and the shares owned will be diluted. Obviously many people on the forum have no knowledge of business legalities in general

- When I will extend my visa will that be a problem If i visa my self only ?

Your extension application is technically separate from your partner. You two can only share evidence that's all.

- Will HO ask me about my partner during extension ?

You need to declare on the form who is your business partner if you have one.

- If I want to remove my partner as a director from the company how can I remove?

You fill TM01form and send it to companies house (https://www.gov.uk/government/publicati ... ector-tm01)

Before you do anything, you need to talk to your partner. I suggest you let your partner know that you are planning to remove him from the company. Is he also a shareholder in the company ? What happens to his shares ??

[vsing012]

HI Zimba,

Thanks fir your valuable suggestions. I will talk to my partner and solicitor,

Rakesh.