Does trading has negative impact on ILR application

[dheeraj1025]

Hi All,

I am planning to trade on cryptocurrency. I want to do a long-term investment. Trading apps and companies are requesting my national insurance.

Is this going to have any negative impact on my Leave to remain application which I am going to apply early next year?

[CR001]

It would be useful if you stated that you are a Tier 2 General migrant.

[dheeraj1025]

Yes, i am a Tier 2 General immigrant.

[dheeraj1025]

Any suggestions would be appreciated.

Regards
Dheeraj

[makky86]

Hi All,

I am planning to trade on cryptocurrency. I want to do a long-term investment. Trading apps and companies are requesting my national insurance.

Is this going to have any negative impact on my Leave to remain application which I am going to apply early next year?

As far as I know if you trade then you will have to pay tax on the profits. This might create issues when you apply for the ILR. I suggest don't do anything which may create issues later on.

[Echoes]

As far as I know if you trade then you will have to pay tax on the profits. This might create issues when you apply for the ILR. I suggest don't do anything which may create issues later on.

Depends on type of trading. Spread betting is tax free in the UK. CFDs are not.

[zimba]

Hi All,

I am planning to trade on cryptocurrency. I want to do a long-term investment. Trading apps and companies are requesting my national insurance.

Is this going to have any negative impact on my Leave to remain application which I am going to apply early next year?

Investing your money in such ventures has nothing to do with Tier 2 rules.
Cryptocurrency in general is not regulated in the UK yet. However If you make some gains, then that would require you to declare capital gains via self assessment and pay any required taxes

[mulderpf]

Do you intend on trading or investing? Specifically on the CFD route, trading could be viewed as a form of self-employment. Investing is just an investment.