Stock market trader on T1 Entrepreneur visa

[angelov]

Hi guys, I have got an investor invested in my (sole) fund - £250K worth of his investment, which I trade on as a hedge fund in Russia. I was wondering if I could use this to enter the UK on Tier 1 entrepreneur Visa? This £250K would be used for trading in stock market. Thanks

[CR001]

So it is not your money but someone elses??

The requirement for Tier 1 Ent is to start a business or join an existing business and create employment.

[Frontier Mole]

In a word - NO

[angelov]

I will be employing people in the UK. Currently I am doing it solo but can't do that just by myself.

It would be clients money (investor's money)

[CR001]

In a word - NO

[angelov]

Thanks man

But sorry, please could you tell me on what front do you think it won't be acceptable?

I am employing people.
I will register as a hedge fund, which means will start a company.
Also, guidelines state that money could be yours, family's or investor's.

[marcnath]

Thanks man

But sorry, please could you tell me on what front do you think it won't be acceptable?

I am employing people.
I will register as a hedge fund, which means will start a company.
Also, guidelines state that money could be yours, family's or investor's.

If you have read the guidelines, you would notice that the money has to be invested in your name. And there are a number of documents you need to provide as evidence. I can't imagine how you would meet those requirements with client's money.

[Frontier Mole]

If you can’t make the effort to read the guidance and / or even bother with the basic research plus the complete lack of understanding of the use of another persons investment funds I seriously wonder why anyone would allow you to manage their investments....

But as the rubbish quote goes “ stupid is as stupid does”

[angelov]

You guys might be very educated about Visa etc, but let me tell you this that after reading the guidance my understanding was that I can start a hedge fund on T1 Entrepreneur visa. Came here to get the opinions of people who are educated on visa. Turns out you guys don't know much.

For anyone who wants to set up a hedge fund in the UK on such a visa: guys I went through immigration lawyer today, and it's totally doable and such companies already exist.
Thank you.

[zimba]

No one here has told you that you cannot get a Tier 1E visa to start a hedge fund business. You are clearly making that up.
You were told very clearly that you cannot use your client's money to get a Tier 1E visa, it must be invested in your business under YOUR NAME.
Maybe you should ask your lawyers to educate you on the extensive documentary evidence required from you to to prove this (as apparently you are not even willing to read the official Tier 1E visa guide) before giving them thousands of pounds for their expert services.

[angelov]

Thanks. What I don't understand is why you think it won't be in my name? Whose name it would be on then? My dog?

[Frontier Mole]

Your dog probably has a better chance of getting the visa.... see if you can become its dependent

The money you need has to be YOUR money that you own, have earned, found under a rock, won in the casino. It can not be someone’s else’s money that they gave you to invest on their behalf. This is the point you are failing to take into account.

The Home Office don’t just tick a box - £200k in the bank, sorted. You have to prove it is your money, how you earned it, inherited it, won it or whatever and that will include tax returns, sale of land docs or any documents that show how you came to have that amount. Being given it to invest from a third party does not meet the criteria.

BTW there are a few unscrupulous immigration lawyers / advisors that will tell you what you want to hear because grant or refusal they still get paid. This is par

No one is stopping you from applying - we have no vested interest wither you get a visa or not. Let us know how you get on though.

[zimba]

Thanks. What I don't understand is why you think it won't be in my name? Whose name it would be on then? My dog?

Under you name is a very specific term used in the context of Tier 1E rules It means you should allocate shares under your name with that money in your company or give your company an unsecured loan as a director. No client with a functioning brain will allow you to do such thing with their money. Home office requires you to provide extensive documents showing that a 3rd party allows you to use their money in that capacity which in simple terms, means they should say bye bye to their cash as it becomes yours under those two circumstances and they will have no access to it legally.

As pointed out by Frontier mole, we are not preventing you from applying and we do not have a vested interest in your case. But the lawyers who want to get paid handsomely have to tell all you'd like to hear as they are not held responsible even if they completely mislead you or even advise you incorrectly.

[CR001]

Your posts from last year suggest you held a Tier 2 General visa. Do you still hold this visa or applied for your next extension or did you leave the UK?