what wil be consequances of spilting T1E team after getting

[Darvesh]

guys please shed some light on possible consequences if T1E team start their own individual business(nvq level 4) rather than sticking together in same business on which they got their initial application approved.

will they have to stay together in that existing business and can start individual business as second business.

or

they can close that existing business and can start individual business and make it main business(nvq level 4).

thanks for comments.

[Olasunkanmi]

guys please shed some light on possible consequences if T1E team start their own individual business(nvq level 4) rather than sticking together in same business on which they got their initial application approved.

will they have to stay together in that existing business and can start individual business as second business.

or

they can close that existing business and can start individual business and make it main business(nvq level 4).

thanks for comments.

The most important thing is for each of the team member to show evidence that they have individually invested £50,000 in a business that is at or above NQF level 4 and also employed 2 British or settled people. The business can be anything and not necessarily the business with which they get their initial 3yrs leave.

Entrepreneur are people with changing ideas and the HO also recognised this, so team member can decide to go solo provided that they can meet all the requirement for extension on their own.

[KickAss]

+1

guys please shed some light on possible consequences if T1E team start their own individual business(nvq level 4) rather than sticking together in same business on which they got their initial application approved.

will they have to stay together in that existing business and can start individual business as second business.

or

they can close that existing business and can start individual business and make it main business(nvq level 4).

thanks for comments.

The most important thing is for each of the team member to show evidence that they have individually invested £50,000 in a business that is at or above NQF level 4 and also employed 2 British or settled people. The business can be anything and not necessarily the business with which they get their initial 3yrs leave.

Entrepreneur are people with changing ideas and the HO also recognised this, so team member can decide to go solo provided that they can meet all the requirement for extension on their own.

[Darvesh]

will there be requirement of informing HO about splitting our team and involvement in separate individual level 4 business?

should 1 doing a business under level 4 or just get in trouble with HO due to his lack of engagement into level 4 business may affect other person(which is doing his level 4 business well) just because they are granted visa as team.?

[Olasunkanmi]

will there be requirement of informing HO about splitting our team and involvement in separate individual level 4 business?

should 1 doing a business under level 4 or just get in trouble with HO due to his lack of engagement into level 4 business may affect other person(which is doing his level 4 business well) just because they are granted visa as team.?

Entrepreneur team application is a privilege by HO who allow 2 people to share the same source of funds and business activities and there is no requirement that say you should inform HO if the team eventually split up.

As long as 1 team member can show the same full funds (50k or 200k) as invested funds in a business at or above NQF level 4 and also meet the requirement to employ British or settled people, then their application will be treated as being separate and wont have anything to do with the other team member.

Don't forget that the main purpose of the Entrepreneur visa is to get money into the British economy by encouraging investors to bring in money into UK and also create jobs for British and settled people, so if each team member decide to apply separately by going solo, the HO will be more than happy as they will have achieve part of their aim to get more funds into the British economy and also creating extra jobs.

[Darvesh]

@ Olasunkanmi thanks for ur comment.