Tier 2 General Appendix 5 - Limited Company Closure

[Iconhero]

Hi,

I am currently on Tier 2 ICT Long Term Staff visa and my wife is a dependant on my current visa.

My wife is currently working in the UK and does contracting under her own limited company.
Now she has found a new employer and is applying to Tier 2 General visa by going back to home country.

When I was going through the application form for Tier 2 General (VAF9 Appendix 5) I came across the question below:

2.4 Do you hold shares in the United Kingdom company or connected business? Put a cross (x) in the relevant box
Yes - Provide details in the box below and say what percentage of the company and/or its shares you own.
No - Go to Part 3

Now for the above question I shall be mentioning the company's name and 100% of shares as she owns it alone. By the time we actually submit the documents on the visa appointment date for the new visa she would have quit her employment with her limited company and would still be the director of that company.

Will this cause any problems? Is it Ok to be a director of 1 company and be an employee of another company sponsoring the visa?
Should we close the limited company also before the application date or can we close it before the actual job start date in the UK?
We dont want to close it as there would still be money coming into it for 1 last time.

Any responses will be much appreciated.

Best Regards..

[chennai2013]

Similar situation which has caused us lot of problems..

Better close the company, and do contract through umbrella company. Closing the company is also big/lengthy process which would take sometime, so start immediately.

You should not be a director of a company when you enter UK as a tier 2 general visa holder AFAIK.

[manci]

Question 2.4 in VAF9 Appendix 5 relates to shareholdings in the sponsor company which must not exceed 10%.

[Iconhero]

Thanks Chennai2013 and Manci,

We are going to change the directorship to someone else before applying and will close down the company in the next month after receiving the final salary into the company's account.
Ofcourse we'll be paying off all the taxes before closing the Company and Bank account.

Thanks again.

Best Regards..