- FAQ
- Login
- Register
- Call Workpermit.com for a paid service +44 (0)344-991-9222
ESC
Welcome to immigrationboards.com!
Moderators: Casa, Amber, archigabe, batleykhan, ca.funke, ChetanOjha, EUsmileWEallsmile, JAJ, John, Obie, push, geriatrix, vinny, CR001, zimba, meself2
luqmanzaheer wrote:i AM DIRECTOR OF A PLC WITH ONE OTHER PARTNER BOTH OF US HOLDS 50% OF SHARES I MADE INVESTMENT ON MY OWN NAME £10000 AND ALSO SHOWN IN MANAGEMENT ACCOUNTS AND REST OF £40000 AMOUNT IS IN MY PERSONAL ACCOUNT I JUST WANT TO KNOW EITHER THIS WORK FINE FOR ME BECAUSE company structure IS PLC LIMITED BY SHARES IS IN THIS INVESTMENT £10000 OTHER PARTNER ALSO HAVE A PART HE IS READY TO GIVE ME DECLARATION THAT THIS INVESTMENT MADE BY U AND I HAVE NO PART IN THIS. WHAT U SAY I NEED THIS DECLARATION OR EVERY THIS IS FINE BECAUSE INVESTMENT IS ALREADY ON MY NAME ?
saeedusman wrote:Mag8891 wrote:If I just open a company account and put some money in that, it means that company have this much funds in account which can be invested later on. You can also keep funds in your own account and show them. You can also use third party funding as mentioned in guideline but must need to complete all the relevant documentation. Simple, better and straightway fulfillment of the requirement will be to keep everything in your own name.saeedusman wrote:
Are you sure about that? if it is in company bank account it means it has been invested in some way.
I thought just the applicants account would work the same if the avaliable funds would be at third parties bank account?
luqmanzaheer wrote:Thanks pyal so about u i just need accountent certificate and management account to show the investment i made our anual accounts are due in dec 2012 so in this case i need management accounts to show no matter we are running plc limited by shares investement on my name seems enought to show without partner decaration am i right
luqmanzaheer wrote:Thanks for u reply i am going to explain u whole situation company incorporation date is 24/11/2011 all the company returns and accounts are due in december 2012 asi discused with my accountent he told me that at the time of company formation company share value seems to b nothing when business work out returns submitted then possible figure comes out what company actualy hold. My director apointment date is 02/04/2012 and at the same time my other partner gave me share certificate of 50%. After that i made 10000 pound investment which is on my name and accountent mention this in management accounts so in this case i hold 10000 pound investment and 40000 pound in personal a/c. What u say am i right. Or i need to workout other way
SONITA wrote:no i thing pial is on wrong way i think luqman did not talk about un audited accounts he just point out the company formation stage and he said right like he said his visa is going expire in 19 july 2012 so it means accounts need to b prepare in jun or july 2012 it means all the accounting figure should be there like
> start up capital
> sales
> expenditures
> salary
> etc
so what i understand they form company in 24/11/2012 accounts are due in dec 2012 but he can make management account for case with accountant certificate and a/c it self describe all the business activities and share value. i thing luqman is on track what u say pial
SONITA wrote:pial i know you have knowledge about this route i believe showing some sum already invested worth more then having 50000K in account because it shows you are active in business and its develop the credit-ability of applicant. i suggest if u have evidence of the investment you made this will work more positive way then having all sum in account because this reflects you just show this sum for getting visa. what you say? am just telling you what i understand. I am professional immigration layer. i suggest to luqman if you have invested 10K already then prepare evidence of that and then show in management accounts and i also suggest to get declaration letter from your other partner too that he has no contribution in your investment (10000K). I hope this way work in good way. (as i read in guidance if you already invested some part of you investment then show this with evidence in management account if applicable)
SONITA wrote:no i thing pial is on wrong way i think luqman did not talk about un audited accounts he just point out the company formation stage and he said right like he said his visa is going expire in 19 july 2012 so it means accounts need to b prepare in jun or july 2012 it means all the accounting figure should be there like
> start up capital
> sales
> expenditures
> salary
> etc
so what i understand they form company in 24/11/2012 accounts are due in dec 2012 but he can make management account for case with accountant certificate and a/c it self describe all the business activities and share value. i thing luqman is on track what u say pial
Pialroy wrote:sorry I forgot to mention 2 important things.
1. letter from partner it is not an authentic documents, that will not help to claim point. and my understanding is don't give un-usual documents. to prove that fund there is lots of other authentic document source you have, company house report, management accounts authorized, hm revenue report, etc.
2. yes "luqmanzaheer", he is in right track but need to organized documents in right order, all the documents need to reflect with each other.
3. yes he should shows his business activity to be in strong position, but what I was trying to tell him dont claim point for that 10K deposit more 10k in personal account and claim that point on that basis rather than already invested money, he can show his business activity in diffferent way. this is my suggestion.
SONITA wrote:no i thing pial is on wrong way i think luqman did not talk about un audited accounts he just point out the company formation stage and he said right like he said his visa is going expire in 19 july 2012 so it means accounts need to b prepare in jun or july 2012 it means all the accounting figure should be there like
> start up capital
> sales
> expenditures
> salary
> etc
so what i understand they form company in 24/11/2012 accounts are due in dec 2012 but he can make management account for case with accountant certificate and a/c it self describe all the business activities and share value. i thing luqman is on track what u say pial
luqmanzaheer wrote:thanks both of you for suggesting me right things pial i made investment from my business a/c to other invested company a/c and i have bank statement, agreement letter and receipt of that investment. my accountant is going to show investment in management a/c and according to accountant and layer these evidences is enough to prove the investment. what u both say on this either i need any kind of other documentation on this and further more pial how can i show my business activity other way plz let me know thanks waiting for your response?
Pialroy wrote:sorry I forgot to mention 2 important things.
1. letter from partner it is not an authentic documents, that will not help to claim point. and my understanding is don't give un-usual documents. to prove that fund there is lots of other authentic document source you have, company house report, management accounts authorized, hm revenue report, etc.
2. yes "luqmanzaheer", he is in right track but need to organized documents in right order, all the documents need to reflect with each other.
3. yes he should shows his business activity to be in strong position, but what I was trying to tell him dont claim point for that 10K deposit more 10k in personal account and claim that point on that basis rather than already invested money, he can show his business activity in diffferent way. this is my suggestion.
SONITA wrote:no i thing pial is on wrong way i think luqman did not talk about un audited accounts he just point out the company formation stage and he said right like he said his visa is going expire in 19 july 2012 so it means accounts need to b prepare in jun or july 2012 it means all the accounting figure should be there like
> start up capital
> sales
> expenditures
> salary
> etc
so what i understand they form company in 24/11/2012 accounts are due in dec 2012 but he can make management account for case with accountant certificate and a/c it self describe all the business activities and share value. i thing luqman is on track what u say pial
Pialroy wrote:well, as I am now bit confused, so you have 2 different business? as you mentioned that you invested money from your business account to another business account? so please clear us so that we can discuss further. is that business account from where you invested that is in your own name only? and that business that is your totally own? then where you invested is that your own business or your partnership business?..so cant put any comments on that without understanding this.
proving your business activity, if your business is B2B then you can show few things to prove business activity.
1. contract with other businesses (customers recognizable, well known).
2. bank statement with money came into your business account from another business.
3. advertisement, with your company name, your name, designation, address.
4. trade body membership.
5. business card.
6. VAT certificate if you did more than 70K and if you have that VAT registration. . (very careful as per uk law if any business's revenue is 70K and all the business activity is local UK based then they need to get VAT registration must)
if it is B2C
then
1. bank statement showing money came into accounts on regular basis, and paid to the suppliers company.
2. supplier agreement.
3. VAT certificate if you did more than 70K and if you have that VAT registration. (very careful as per uk law if any business's revenue is 70K and all the business activity is local UK based then they need to get VAT registration must)
4. Business premises as they somewhere mentioned that they assume that business have a physical address rather than PO box, canr remember where I saw that but there is somewhere. so you can show tenancy agreement to prove that you have a business premises.
in my case I am always try to get everything 100% authentic and clear, but its depends on different person. I am not saying that you need all of them, but you can pick and address them as per your case. this is my understanding so dont get confuse with others comments and suggestion, do your own analysis as per your scenario.
"SONITA"
his HM renevue is not for "luqmanzaheer", in general for others if anyone are running company more than that 1.5 years then they must have that Hm Revenue papers.
and there is no different process for Plc, LLC, LLP in term of UKBA, as they divided in 2 part one self employed another limited company.
Note: if "luqmanzaheer", trying to mean public limited company by PLC then if it is in the security market, then maybe there is some other requirements or some restriction not sure, or if he means PLC, Private limited company then different case.. I assumed that he mean private limited company. normally as new entrepreneur almost everybody start with sole traders or with limited company, you will find hardly few with public limited company. hoe this will raise more question for you guys, and do some research. For your information my company is limited company and in my own name only.
luqmanzaheer wrote:thanks both of you for suggesting me right things pial i made investment from my business a/c to other invested company a/c and i have bank statement, agreement letter and receipt of that investment. my accountant is going to show investment in management a/c and according to accountant and layer these evidences is enough to prove the investment. what u both say on this either i need any kind of other documentation on this and further more pial how can i show my business activity other way plz let me know thanks waiting for your response?
Pialroy wrote:sorry I forgot to mention 2 important things.
1. letter from partner it is not an authentic documents, that will not help to claim point. and my understanding is don't give un-usual documents. to prove that fund there is lots of other authentic document source you have, company house report, management accounts authorized, hm revenue report, etc.
2. yes "luqmanzaheer", he is in right track but need to organized documents in right order, all the documents need to reflect with each other.
3. yes he should shows his business activity to be in strong position, but what I was trying to tell him dont claim point for that 10K deposit more 10k in personal account and claim that point on that basis rather than already invested money, he can show his business activity in diffferent way. this is my suggestion.
SONITA wrote:no i thing pial is on wrong way i think luqman did not talk about un audited accounts he just point out the company formation stage and he said right like he said his visa is going expire in 19 july 2012 so it means accounts need to b prepare in jun or july 2012 it means all the accounting figure should be there like
> start up capital
> sales
> expenditures
> salary
> etc
so what i understand they form company in 24/11/2012 accounts are due in dec 2012 but he can make management account for case with accountant certificate and a/c it self describe all the business activities and share value. i thing luqman is on track what u say pial
Pialroy wrote:"How anyone can invest in running or new business" either buying shares from existing company and it need to documented to the company house, or start a new company with capital investment with documentation from company house where you can mention your start-up share capital. or buying shares from share market (share market investment if not acceptable as per I can remember)
So you made that further investment into your business bank account and then you transfer that money to another business say "Pial's company" as security deposit? if I understood right then yes you can show that investment, but remember on what basis you made that further investment into your business? as you are 50% share holder of that company and 50% share holder is your another friend? so either you purchase some share from your another partner? or your partner had 10K investment also to be in equal position, or going to invest in future there should be something clear. you cant not just show that you injected 10K without any proper documentation. hope this will help you to prepare more authentic documents.
for your kind information, please note there is a clause
"Other than the work necessary to administer the business, your main business activity must be working at graduate level. We will not take into account the tasks involved with the running of the business for this assessment.
For example
• If the business is software sales and your main activity is developing software, you may qualify for points;
• If the business is a taxi firm, the main occupation is driving a taxi and you will not score points even though you manage the business. Your main activity is providing a taxi service which is not skilled to graduate level."
so careful with your activity in the business. also you didnt answer that is that private limited company or public limited company? are you in the security/share market already?
luqmanzaheer wrote:let me clear everything, we are running travel and money remittance business . we are 2 partners with equal share holding. we have agreements with different money remittance and travel companies who provide services to end user on our behalf. i made deposit of 10000k to one main travel and tourism company as security of issuing air tickets. so in return the company with which we are in agreement gave us legal agreement letter , receipt of payment and bank statement showing deposit we made in a/c. so in this way i made my investment and i have evidence of this as i told u. what u say
luqmanzaheer wrote:pial my job activity in company is director of business development and finance which is nvq level 6 job, and i have marketing material and contract letter which i have made after director appointment. my all other documentations are clear but i need to do little more work on documentation related to my investment and one more thing i am not able to give figures of my share holding to company house reason is i was appointed as director and share holder of 50% after 02/04/2012 and company house told me that we need to give new shareholding figures in next accounts and company can issue share certificate on their own behalf on certificate book which we (company house) provide your company so the new share holders just need share certificate which company need to issue on share certificate book. or on company letter headed paper.
Pialroy wrote:As you didn't answer that question yet is that is a public limited company? if it is, then your investment will be treated as share purchase remember. just have a quick look here in this quote from policy guide "The money must be in cash in the account. We will not accept ISA accounts or assets such as stocks and shares;;".
from my understanding and point view if your job responsibility is in NQF level 6 then fine there shouldn't be a issue. but in company house report can you see that "director of business development and finance "? if yes then fine you can proceed with marketing materials hope that will work.
just have a look here in this policy guide, hope you will find all your answers.
"If you have invested by way of share capital the business accounts must show the
shareholders, the amount and value of the shares (on the date of purchase) in your name as it appears on your application. If the value of your share capital is not shown in the accounts, then share certificates should be submitted as documentary evidence.
The accounts should clearly show the name of the accountant and the date the accounts were produced. The accountant must be a member of a recognised UK supervisory body (see glossary); if not, we will not accept this evidence. The accounts must show how much you have invested in the business."
once again please make sure whether your company it is an public limited company and they are already in the stock market then need to do analysis in different way. hope this will help you.
luqmanzaheer wrote:pial my job activity in company is director of business development and finance which is nvq level 6 job, and i have marketing material and contract letter which i have made after director appointment. my all other documentations are clear but i need to do little more work on documentation related to my investment and one more thing i am not able to give figures of my share holding to company house reason is i was appointed as director and share holder of 50% after 02/04/2012 and company house told me that we need to give new shareholding figures in next accounts and company can issue share certificate on their own behalf on certificate book which we (company house) provide your company so the new share holders just need share certificate which company need to issue on share certificate book. or on company letter headed paper.
luqmanzaheer wrote:as i said we are runing private limited company pial
Pialroy wrote:As you didn't answer that question yet is that is a public limited company? if it is, then your investment will be treated as share purchase remember. just have a quick look here in this quote from policy guide "The money must be in cash in the account. We will not accept ISA accounts or assets such as stocks and shares;;".
from my understanding and point view if your job responsibility is in NQF level 6 then fine there shouldn't be a issue. but in company house report can you see that "director of business development and finance "? if yes then fine you can proceed with marketing materials hope that will work.
just have a look here in this policy guide, hope you will find all your answers.
"If you have invested by way of share capital the business accounts must show the
shareholders, the amount and value of the shares (on the date of purchase) in your name as it appears on your application. If the value of your share capital is not shown in the accounts, then share certificates should be submitted as documentary evidence.
The accounts should clearly show the name of the accountant and the date the accounts were produced. The accountant must be a member of a recognised UK supervisory body (see glossary); if not, we will not accept this evidence. The accounts must show how much you have invested in the business."
once again please make sure whether your company it is an public limited company and they are already in the stock market then need to do analysis in different way. hope this will help you.
luqmanzaheer wrote:pial my job activity in company is director of business development and finance which is nvq level 6 job, and i have marketing material and contract letter which i have made after director appointment. my all other documentations are clear but i need to do little more work on documentation related to my investment and one more thing i am not able to give figures of my share holding to company house reason is i was appointed as director and share holder of 50% after 02/04/2012 and company house told me that we need to give new shareholding figures in next accounts and company can issue share certificate on their own behalf on certificate book which we (company house) provide your company so the new share holders just need share certificate which company need to issue on share certificate book. or on company letter headed paper.
Pialroy wrote: from my understanding and point view if your job responsibility is in NQF level 6 then fine there shouldn't be a issue.
rabeel wrote:Pialroy wrote: from my understanding and point view if your job responsibility is in NQF level 6 then fine there shouldn't be a issue.
My apologies in advance if you will feel bad after reading my comments but according to my understanding it is not ur job which needs to be at graduate level , it is the main business activity which needs to be at graduate level .
As home office says "Other than the work necessary to administer the business, your main business activity must be working at graduate level. We will not take into account the tasks involved with the running of the business for this assessment.
For example
• If the business is software sales and your main activity is developing software, you may qualify for points;
• If the business is a taxi firm, the main occupation is driving a taxi and you will not score points even though you manage the business. Your main activity is providing a taxi service which is not skilled to graduate level."
So if your business activity which is a travel agency is not in UKBA graduate list then you might could face an issue. Please discuss with immigration expert and we will be glad to hear other people comments on it as well. I might be wrong but this is my understanding.