Self-employed,Limited Company in the UK route (start-up)

[hendrix]

HI

I currently live abroad with my wife. We will be moving to the UK to start a business. I intend to apply for her spouse visa through the self-employed – limited company route. However as we are a brand new start-up company and will only start trading when we arrive in England, we will have no account history.

Has anyone been in this position? If anyone as any advice on what we need to prepare to make a credible application and/or meeting the financial requirements (or can point me in the right direction) I’d be extremely grateful

[Casa]

Unless you have a considerable amount of savings, you're unlikely to meet the financial requirements which were introduced in the new regulations on 9th July. You would have to submit a minimum of 1 year's company accounts, which you obviously won't be able to do.
By the way, if you have a Limited company, you won't be self-employed...you'll be an employee.

[hendrix]

Thanks for the response. Could you give me a ballpark figure for the savings you think we’d need under the new rules?

I was under the impression that this route was available to both self-employed people and owners of LTD companies based in the UK.

I know because of the accounts requirement it sounds like a dead end but a lawyer has advised me that it’s definitely possible to apply as a new company. Apparently the business plan is taken into consideration among other things that I’m unsure of right now. We may have to do this through a lawyer or visa agency but at this point I’m trying to make any enquiries that don’t incur a fee.

[Casa]

Here's the passage from the UKBA statement of intent:
Where the sponsor has been working overseas and is returning to work in the UK, there will be scope for them to count a firm, verifiable job offer or signed contract of employment to start work within three months of their return at a salary at the level required to meet the financial requirement. They must also demonstrate that either they are in employment overseas at the required salary level at the point of application and have been so continuously for at least the previous six months or they have earned the required amount through salaried employment in the 12 months prior to the application.

and the link to the whole document:
http://www.ukba.homeoffice.gov.uk/sitec ... am-mig.pdf

[hendrix]

Thanks much appreciated. I’ve had a good read of the requirements and evidence needed for the various situations. Unfortunately there’s nothing there for ours.

Situations covered seem to be

From full time employment abroad to a UK Job offer.
From Unemployed to a Job offer
From self employed to self employed
and even from self employed to a job offer

We’re employed full time now. We have no problem meeting the financial requirement in our current and past employment. But we will be returning to start a business.

Through multiple enquiries I know there’s certainly scope to return to start-up a company. I suppose what I need to find out is, how a start-up firm can provide evidence that they’re going to generate a salary over the requirement within 3 months of return.

hmm It seems I may have no choice but to use a visa agency with experience of this situation.

[frustratedbrit]

Hi hendrix,

According to Annex FM section-FM-1.7, the ballpark figure for the amount of savings that will substitute for income is:
(savings - 16,000) / 2.5 > annual income requirement
And you will need to hold these in cash for at least the last 6 months.

It's 16,000 because, roughly speaking, that is about the income level below which families can start claiming benefits. It's 2.5 because your initial application is for 2.5 years.

So if it's just you and your wife, then the income requirement is 18,600, so the savings you need are:
18,600 * 2.5 + 16,000 = 62,500

Not a small number.

[hendrix]

Cheers frustratedbrit. I had read about the £62,500, however after explaining my situation to a couple of lawyers I’ve been assured we can still apply through the self employed/limited company route even though we are only a start-up. Therefore we’d be able to provide evidence of the company's projected earnings rather than have to meet the full savings requirement for a person with no income.

I’m still not sure how this would work and it’s not mentioned in any of the official paper work I’ve read, so I wondered if anyone using this board has had an experience applying like this.

I think my next step is to go back to the people I was talking to previously. I feel much more informed now. I’ll put the rules as stated in the Statement of Intent to them and see what they come back with.

[hendrix]

hmm it seems I’ve been barking up the wrong tree and infact Casa you’re completely right. I should be thinking of myself as salaried employee. I found this quote from the directorate instructions.


“In respect of an equity partner, e.g. in a law firm, the income they draw from the partnership will be treated as salaried income under Category A and Category B (5.3.1-5.3.2). Where the applicant’s partner is returning with the applicant to the UK to join an equity partnership in the UK within 3 months of their return, that will be treated as salaried employment under Category A and Category B. “

Can one apply as a full time employee of ones own company? I can’t imagine a caseworker being too impressed by a letter confirming my employment, also written and signed by myself

[Kitty]

hendrix, Appendix FM-SE does set out the requirements for people who are "self employed in a limited company in the UK".

See in particular paragraphs 9,13 and 19.

[frustratedbrit]

Hendrix, That paragraph you quote applies to partnerships. Roughly speaking, there are 4 main types of private businesses in the UK: sole trader, partnership, private limited company and public limited company. I think your business is/will be a private limited company. So you need to be looking at paragraphs 9, 13(e)&(f) and 19(a)&(c).

Depressingly, it seems we cannot count any savings, according to 13(f).

[roadhouseblues]

Unless you have a considerable amount of savings, you're unlikely to meet the financial requirements which were introduced in the new regulations on 9th July. You would have to submit a minimum of 1 year's company accounts, which you obviously won't be able to do.
By the way, if you have a Limited company, you won't be self-employed...you'll be an employee.

""By the way, if you have a Limited company, you won't be self-employed...you'll be an employee."

Are you sure if it's a limited company then it won't be self-employer and will be an employee and just a payslip would work for a company's director. Any explanation would be highly appreciated.