Only for UK Tier 1 (Entrepreneur) points system. This route is now closed to new applicants.
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uzzal13
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by uzzal13 » Tue Jan 02, 2018 12:45 am
Dear seniors and Gurus,
I am going through a critical situation. i applied for extension (50k) May 17 and still waiting for result. I run a restaurant and same time do Event and catering. Coz of event i hired a quite large establishment with stage and dance floor which are inside my restaurant. But my business is not gong good. 2ed and 3rd year was on loss and now even going through more loss. I can't afford any more loss. Company is VAT registered. So top of my loss i am paying VAT as well. its totally waste of money and time. I have decided to close this business. i have few question and confusion about closing my business.
can i close my current business but not company and wait few month then de VAT registered my company and open a small restaurant and carry on my employment?
can i close my company and business and join with a existing company where my friend is a sole director and i would join as a second director and carry on the employment? Here i could take my current employees (three part time settle worker) who will join this company’s payroll.
can i close my company and business and open a fresh company and open a small restaurant and carry on my employment? my current employment would move in to new one.
if i take any one of the above action do i need to inform home office?
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marcnath
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by marcnath » Tue Jan 02, 2018 2:26 pm
marcnath wrote: ↑Tue Jan 02, 2018 2:26 pm
uzzal13 wrote: ↑Tue Jan 02, 2018 12:45 am
Dear seniors and Gurus,
I am going through a critical situation. i applied for extension (50k) May 17 and still waiting for result. I run a restaurant and same time do Event and catering. Coz of event i hired a quite large establishment with stage and dance floor which are inside my restaurant. But my business is not gong good. 2ed and 3rd year was on loss and now even going through more loss. I can't afford any more loss. Company is VAT registered. So top of my loss i am paying VAT as well. its totally waste of money and time. I have decided to close this business. i have few question and confusion about closing my business.
can i close my current business but not company and wait few month then de VAT registered my company and open a small restaurant and carry on my employment?
==> no impact on your T1E
can i close my company and business and join with a existing company where my friend is a sole director and i would join as a second director and carry on the employment?
==> no impact on your T1E
Here i could take my current employees (three part time settle worker) who will join this company’s payroll.
==> for your next extension/settlement application, you will need to show two ADDITIONAL employees, so if these are in addition to existing employees in the business no issues
can i close my company and business and open a fresh company and open a small restaurant and carry on my employment? my current employment would move in to new one.
==> no impact on your T1E
if i take any one of the above action do i need to inform home office?
==> no
My comments are in no way meant to be advisory. I have no professional knowledge of immigration. These are based on my own experience, convictions and personal interpretation of publicly available information.
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uzzal13
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by uzzal13 » Tue Jan 02, 2018 4:26 pm
Thanks a lot Marcnath for your reply. One more question regarding my case. When I move one company to another company my trading would be paused for few days. As I am waiting for waiting for extension distinction how low long can I pause my trading? My plan is as soon as I get extension I would bring some money from my home and start something fresh till my ILR. Mean the time I could close my business but not company and carry on employment.
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marcnath
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by marcnath » Tue Jan 02, 2018 4:56 pm
Sure, don't see why that would be an issue
My comments are in no way meant to be advisory. I have no professional knowledge of immigration. These are based on my own experience, convictions and personal interpretation of publicly available information.
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Dytto
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by Dytto » Tue Jan 02, 2018 6:40 pm
Hi,
Are you uk graduate?
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uzzal13
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by uzzal13 » Tue Jan 02, 2018 8:54 pm
Yes mate
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uzzal13
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by uzzal13 » Tue Jan 02, 2018 9:02 pm
marcnath wrote: ↑Tue Jan 02, 2018 4:56 pm
Sure, don't see why that would be an issue
So can I close my current restaurant and Pause trading for 3/4 months or till get extension approved? If I do so and if home office take any interview - it would give any issue?
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marcnath
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by marcnath » Tue Jan 02, 2018 9:07 pm
uzzal13 wrote: ↑Tue Jan 02, 2018 9:02 pm
marcnath wrote: ↑Tue Jan 02, 2018 4:56 pm
Sure, don't see why that would be an issue
So can I close my current restaurant and Pause trading for 3/4 months or till get extension approved? If I do so and if home office take any interview - it would give any issue?
All I can say is that the immigration rules do not prohibit you from doing that. If you do have an interview, you need to be able to explain why you have done that and what your plans are. Pausing the business does not on its own mean you are not a genuine entrepreneur but as there are no objective criteria it will depend on how well you can explain and clarify any doubts if they have.
My comments are in no way meant to be advisory. I have no professional knowledge of immigration. These are based on my own experience, convictions and personal interpretation of publicly available information.
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uzzal13
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by uzzal13 » Tue Jan 23, 2018 2:16 pm
Dear Zimba88 and Marcnath and other Gurus, my Entrepreneur visa ( 50k post April 2014) is under process. Last week got interview to my business and it went well. Last week got my partial IHS refund as well. Just waiting for decision. Now the problem is we are going to close our business or company by next month coz of loss and partner problem.Partner got ILR already. now i need some clarification:
1. if i take over a running restaurant with a brand new company and employee the previous company's staff- it would give me any trouble when i go for my next extension or ILR?
2. if i join with a running restaurant as the second director of the existing company and take my current stuff as extra employment- would it work for extension?
3.last 8 month, (after my extension application till now)3 part time (all 24 Hours) have been working my company. can i use these 8 month employment for next extension and do i need to add another part time of to my employment to fulfil the requirement?
4. will i get any trouble from HO if i close my business but not company before the decision?
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CR001
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by CR001 » Tue Jan 23, 2018 2:21 pm
Char (CR001 not Casa)
In life you cannot press the Backspace button!!
Please DO NOT send me a PM for immigration advice. I reserve the right to ignore the PM and not respond.
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marcnath
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by marcnath » Tue Jan 23, 2018 3:13 pm
uzzal13 wrote: ↑Tue Jan 23, 2018 2:16 pm
1. if i take over a running restaurant with a brand new company and employee the previous company's staff- it would give me any trouble when i go for my next extension or ILR?
Nothing in the immigration rules prevents you from doing that.
uzzal13 wrote: ↑Tue Jan 23, 2018 2:16 pm
2. if i join with a running restaurant as the second director of the existing company and take my current stuff as extra employment- would it work for extension?
Yes
uzzal13 wrote: ↑Tue Jan 23, 2018 2:16 pm
3.last 8 month, (after my extension application till now)3 part time (all 24 Hours) have been working my company. can i use these 8 month employment for next extension and do i need to add another part time of to my employment to fulfil the requirement?
Jobs need to have been created in the extension period, so these 8 months cannot be used.
uzzal13 wrote: ↑Tue Jan 23, 2018 2:16 pm
4. will i get any trouble from HO if i close my business but not company before the decision?
Nothing in the immigration rules prevents you from doing that.
My comments are in no way meant to be advisory. I have no professional knowledge of immigration. These are based on my own experience, convictions and personal interpretation of publicly available information.
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uzzal13
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by uzzal13 » Tue Jan 23, 2018 4:34 pm
Thanks a lot Marcnath. Could u pls tell me another answer-
if i join with a running restaurant/business as the second director of the existing company, how much minimum Share I have to keep? Someone offering fe 15% share. Will it work?
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marcnath
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by marcnath » Tue Jan 23, 2018 5:29 pm
uzzal13 wrote: ↑Tue Jan 23, 2018 4:34 pm
Thanks a lot Marcnath. Could u pls tell me another answer-
if i join with a running restaurant/business as the second director of the existing company, how much minimum Share I have to keep? Someone offering fe 15% share. Will it work?
There are no minimums. You can be a Director even without any shares for the purposes of the immigration rules.
My comments are in no way meant to be advisory. I have no professional knowledge of immigration. These are based on my own experience, convictions and personal interpretation of publicly available information.
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uzzal13
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by uzzal13 » Thu Jan 25, 2018 12:43 am
Thanks a lot Marcnuth. just finished a business meeting. Decision is :
Gonna open a new company and with this company taking over a existing Restaurant where six part timer are working on payroll. and these 6 part timers are gonna be my new companies employee. i think i would able to do my next extension/settlement application with these employment after one year . Pls Marcnath give your thought.
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marcnath
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by marcnath » Thu Jan 25, 2018 7:14 am
uzzal13 wrote: ↑Thu Jan 25, 2018 12:43 am
Thanks a lot Marcnuth. just finished a business meeting. Decision is :
Gonna open a new company and with this company taking over a existing Restaurant where six part timer are working on payroll. and these 6 part timers are gonna be my new companies employee. i think i would able to do my next extension/settlement application with these employment after one year . Pls Marcnath give your thought.
There is a chance that HO could still consider this as a taking over a business. I do understand that it is a new company and there are no specific rules about a new business taking over an existing one.
It would definitely be safer to go for two additional jobs over the part timers.
My comments are in no way meant to be advisory. I have no professional knowledge of immigration. These are based on my own experience, convictions and personal interpretation of publicly available information.
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uzzal13
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by uzzal13 » Thu Jan 25, 2018 9:36 am
marcnath wrote: ↑Thu Jan 25, 2018 7:14 am
uzzal13 wrote: ↑Thu Jan 25, 2018 12:43 am
Thanks a lot Marcnuth. just finished a business meeting. Decision is :
Gonna open a new company and with this company taking over a existing Restaurant where six part timer are working on payroll. and these 6 part timers are gonna be my new companies employee. i think i would able to do my next extension/settlement application with these employment after one year . Pls Marcnath give your thought.
There is a chance that HO could still consider this as a taking over a business. I do understand that it is a new company and there are no specific rules about a new business taking over an existing one.
It would definitely be safer to go for two additional jobs over the part timers.
Marcnath thnks for your time.
in this case i am gonna take my two part time employees( who r working in my current business) to new company. so one employment would be sorted .
I am moving from Birmingham to Manchester. two current part timers who would join to new companies their address on pay slip would be birmingham, as their family live in Birmingham. would it give me harm when i go for next extension/settlement ? and if i keep this two on my payroll next 24 month can i claim 2 full time additional employment? I got my initial visa post april 2014.
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marcnath
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by marcnath » Thu Jan 25, 2018 11:49 am
Address in Birmingham should not cause a problem on its own. If you are interviewed you have an explanation.
Part time rules are a bit unclear. But in general I would think that for Post 2014 cases each Job has to last 12 months. For full time, it is clear. It has to be different jobs.
For part time it is not clearly defined but I interpret that you will need 4 jobs of 12 months each.
My comments are in no way meant to be advisory. I have no professional knowledge of immigration. These are based on my own experience, convictions and personal interpretation of publicly available information.