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200K or 50K which ever applies to your application, needs to be invested within 3 years time frame. You need to have at least 2 full time job creations for at least 12 months in the last year. 30Hrs/Week is considered Full time, if you have Part time employees they should all sum up to 30Hrs/Week x 2 for 12 months. If there is a gap between the employee leaving and rehiring you will need to hire more employees to full fill the requirements. to sum it up you should have documented evidence of 1,440Hrs per employee or 2,880 hours in total to get extension in your leave to remain.smile_alwayz wrote:is there any time frame in which the 50 k needs to be invested or i can invest this amount in 3 years time...?...
I will be thankful if someone can quote the relevent paragraph of guidance where it is stated that 50k/200k needs to invested over the period of 3 years. I tried but can not find the relevent rules.invador108 wrote:200K or 50K which ever applies to your application, needs to be invested within 3 years time frame..smile_alwayz wrote:is there any time frame in which the 50 k needs to be invested or i can invest this amount in 3 years time...?...
Capital Investment of 50K/200K is required when you start your business. You can put your capital investment funds in your business bank account and spend that money on need basis on your business related transactions only with documented evidence from your accountant. You simply cannot just spend all 50k/200k on the first day of your business commencement. There is a difference between making capital investment and spending the money invested. I hope this helps. Its a general rule for any business anywhere around the world.rizwan567 wrote:I will be thankful if someone can quote the relevent paragraph of guidance where it is stated that 50k/200k needs to invested over the period of 3 years. I tried but can not find the relevent rules.invador108 wrote:200K or 50K which ever applies to your application, needs to be invested within 3 years time frame..smile_alwayz wrote:is there any time frame in which the 50 k needs to be invested or i can invest this amount in 3 years time...?...
thanks for a detail reply....i had the same in mind...invador108 wrote:Capital Investment of 50K/200K is required when you start your business. You can put your capital investment funds in your business bank account and spend that money on need basis on your business related transactions only with documented evidence from your accountant. You simply cannot just spend all 50k/200k on the first day of your business commencement. There is a difference between making capital investment and spending the money invested. I hope this helps. Its a general rule for any business anywhere around the world.rizwan567 wrote:I will be thankful if someone can quote the relevent paragraph of guidance where it is stated that 50k/200k needs to invested over the period of 3 years. I tried but can not find the relevent rules.invador108 wrote:200K or 50K which ever applies to your application, needs to be invested within 3 years time frame..smile_alwayz wrote:is there any time frame in which the 50 k needs to be invested or i can invest this amount in 3 years time...?...
thank u soo much...im clear nowJabs wrote:Transferring £50K into you business account is not considered an investment.
Investment will be in the form of operating costs i.e. office rent, employee wages, hiring or purchasing computer equipment and so on, in simple terms the expenses incurred for purely to run your business.
If you have a limited company, don't transfer all the funds into your business account, a limited company is a legal entity and the funds transfered will not belong to you anymore.
Lets say you transferred £10K and start to do well, then you can reinvest the profits back into your business. At the end of your 3rd year if you can show you have invested (spent) £50K whether this has come from your profits or your initial funds (capital).
Consider this risk, a third party can get your company wound up if you are in breach of a contract or in dispute regarding payments, so it will be very difficult to take the money out again.
There is no requirement for you transfer the complete £50K, transfer what you need to get the business started.
In 3 years time when you head for an extension I anticipate UKBA will be looking for business activity in the form of P&L for each year.
The policy guidance says that your salary will not count towards investment. But what about expenses incurred by you? Say travel expenses in roles that require a large amount of travelling?Jabs wrote:Transferring £50K into you business account is not considered an investment.
Investment will be in the form of operating costs i.e. office rent, employee wages, hiring or purchasing computer equipment and so on, in simple terms the expenses incurred for purely to run your business.
If you have a limited company, don't transfer all the funds into your business account, a limited company is a legal entity and the funds transfered will not belong to you anymore.
Lets say you transferred £10K and start to do well, then you can reinvest the profits back into your business. At the end of your 3rd year if you can show you have invested (spent) £50K whether this has come from your profits or your initial funds (capital).
Consider this risk, a third party can get your company wound up if you are in breach of a contract or in dispute regarding payments, so it will be very difficult to take the money out again.
There is no requirement for you transfer the complete £50K, transfer what you need to get the business started.
In 3 years time when you head for an extension I anticipate UKBA will be looking for business activity in the form of P&L for each year.
Salary of director(s) cannot be considered an investment.alex87 wrote:The policy guidance says that your salary will not count towards investment. But what about expenses incurred by you? Say travel expenses in roles that require a large amount of travelling?Jabs wrote:Transferring £50K into you business account is not considered an investment.
Investment will be in the form of operating costs i.e. office rent, employee wages, hiring or purchasing computer equipment and so on, in simple terms the expenses incurred for purely to run your business.
If you have a limited company, don't transfer all the funds into your business account, a limited company is a legal entity and the funds transfered will not belong to you anymore.
Lets say you transferred £10K and start to do well, then you can reinvest the profits back into your business. At the end of your 3rd year if you can show you have invested (spent) £50K whether this has come from your profits or your initial funds (capital).
Consider this risk, a third party can get your company wound up if you are in breach of a contract or in dispute regarding payments, so it will be very difficult to take the money out again.
There is no requirement for you transfer the complete £50K, transfer what you need to get the business started.
In 3 years time when you head for an extension I anticipate UKBA will be looking for business activity in the form of P&L for each year.
dancingguy05 wrote:One of my friends told that he came to know ones of his colleagues who applied in 1st week of Oct 2012, biometrics done on around 2nd week of same month received his visa on 8th Feb 2013.
Psw to tier1 ent
All funds in the uk personal
No queries till he got visa.
He had software firm
I have no info apart from this as the guy who got went back home on a vacation
Cheers
roshanvsn wrote:Has anybody received any communication for applicants applied in August, I applied on 8th august having done my bio-metric on 25th August but hasn't heard anything from them yet.
hellosmarty191 wrote:I have received a query from UKBA, in which they are asking new bank letter and third party declaration letter.
Declaration is OK, but in Bank statement they are asking so many applicant's detail which bank is not ready to mention on bank letter.
I need to ask if now I can change the third party which has account in different bank, who can give letter as UKBA required.
Plz give some guidance.
Many Thanks
sorry one more question when did u applied for the visa if full details u can give pleasesmarty191 wrote:I have received a query from UKBA, in which they are asking new bank letter and third party declaration letter.
Declaration is OK, but in Bank statement they are asking so many applicant's detail which bank is not ready to mention on bank letter.
I need to ask if now I can change the third party which has account in different bank, who can give letter as UKBA required.
Plz give some guidance.
Many Thanks
Hi smartysmarty191 wrote:applied in november