question regarding multiple businesses

[temoham]

Hello friends,

My friend and I want to apply for Tier 1 Entrepreneur in late February just a few days before our PSW visas expire. We want to propose a procurement consultancy business with two SOC codes 1132 for myself (Marketing Director) and 1133 (Purchasing Managers and Directors) for my friend. My friend has vocational background in procurement and I have educational background in management.

Since our new venture may takes time to generate income, we want to take over an existing business (not at graduate level) which is up and running in order to maintain ourselves financially. If we show our 50K as 40K in share capital (the shares of the company we want to take over) and 10K in cash for our proposed business, does this increase the chance of refusal? Can the case worker question us that how can you run 2 businesses at the same time?

Any comments will be highly appreciated.

Also, should our new company be registered exactly 3 months before the submission of our visa? Apparently the guidance is not clear about this issue.

[BlackBirdSSG]

Kindly read them

1) Company must not be more than 90 days old ... AT THE DATE OF THE APPLICATION

2) If funds have already been invested in a company, that company must not be more than 12 months old ... AT THE DATE OF THE APPLICATION

3) UKBA will only be interested in ONE business for which they granted (or will grant) you visa. You, however, can open other business ventures and do business (even if they are below NQF level 4), however after 3 years, UKBA will only be interested in ONE and ONLY ONE company (for which you got your visa)

[educators]

Kindly read them

1) Company must not be more than 90 days old ... AT THE DATE OF THE APPLICATION

2) If funds have already been invested in a company, that company must not be more than 12 months old ... AT THE DATE OF THE APPLICATION

3) UKBA will only be interested in ONE business for which they granted (or will grant) you visa. You, however, can open other business ventures and do business (even if they are below NQF level 4), however after 3 years, UKBA will only be interested in ONE and ONLY ONE company (for which you got your visa)

Agree with your points except the first one. Company can be older than 90 days. The only requirement is that you should be the director of that company within the last 90 days before your application.

[BlackBirdSSG]

Kindly read them

1) Company must not be more than 90 days old ... AT THE DATE OF THE APPLICATION

2) If funds have already been invested in a company, that company must not be more than 12 months old ... AT THE DATE OF THE APPLICATION

3) UKBA will only be interested in ONE business for which they granted (or will grant) you visa. You, however, can open other business ventures and do business (even if they are below NQF level 4), however after 3 years, UKBA will only be interested in ONE and ONLY ONE company (for which you got your visa)

Agree with your points except the first one. Company can be older than 90 days. The only requirement is that you should be the director of that company within the last 90 days before your application.

True that, my apologies.

[tanvir1985th]

Kindly read them

1) Company must not be more than 90 days old ... AT THE DATE OF THE APPLICATION

2) If funds have already been invested in a company, that company must not be more than 12 months old ... AT THE DATE OF THE APPLICATION

3) UKBA will only be interested in ONE business for which they granted (or will grant) you visa. You, however, can open other business ventures and do business (even if they are below NQF level 4), however after 3 years, UKBA will only be interested in ONE and ONLY ONE company (for which you got your visa)

I dont agree with point number 1 and 3

[educators]

Kindly read them

1) Company must not be more than 90 days old ... AT THE DATE OF THE APPLICATION

2) If funds have already been invested in a company, that company must not be more than 12 months old ... AT THE DATE OF THE APPLICATION

3) UKBA will only be interested in ONE business for which they granted (or will grant) you visa. You, however, can open other business ventures and do business (even if they are below NQF level 4), however after 3 years, UKBA will only be interested in ONE and ONLY ONE company (for which you got your visa)

I dont agree with point number 1 and 3

May we know why you are not agreed with point number 3?

[tanvir1985th]

Kindly read them

1) Company must not be more than 90 days old ... AT THE DATE OF THE APPLICATION

2) If funds have already been invested in a company, that company must not be more than 12 months old ... AT THE DATE OF THE APPLICATION

3) UKBA will only be interested in ONE business for which they granted (or will grant) you visa. You, however, can open other business ventures and do business (even if they are below NQF level 4), however after 3 years, UKBA will only be interested in ONE and ONLY ONE company (for which you got your visa)

I dont agree with point number 1 and 3

May we know why you are not agreed with point number 3?

ukba will not grant u visa for just one business rather they will see whether u have nqf level 4 position there or not. when u r granted visa u can switch to any other business or can continue more than one if u wish. but all they need to see whether u have invested £50k or not. thats the true picture. thx

[educators]

Kindly read them

1) Company must not be more than 90 days old ... AT THE DATE OF THE APPLICATION

2) If funds have already been invested in a company, that company must not be more than 12 months old ... AT THE DATE OF THE APPLICATION

3) UKBA will only be interested in ONE business for which they granted (or will grant) you visa. You, however, can open other business ventures and do business (even if they are below NQF level 4), however after 3 years, UKBA will only be interested in ONE and ONLY ONE company (for which you got your visa)

I dont agree with point number 1 and 3

May we know why you are not agreed with point number 3?

ukba will not grant u visa for just one business rather they will see whether u have nqf level 4 position there or not. when u r granted visa u can switch to any other business or can continue more than one if u wish. but all they need to see whether u have invested £50k or not. thats the true picture. thx

Correct. So you disagree to which thing exactly in point no 3 as it is almost the same thing what you mentioned.

[tanvir1985th]

I dont agree with point number 1 and 3

May we know why you are not agreed with point number 3?

ukba will not grant u visa for just one business rather they will see whether u have nqf level 4 position there or not. when u r granted visa u can switch to any other business or can continue more than one if u wish. but all they need to see whether u have invested £50k or not. thats the true picture. thx

Correct. So you disagree to which thing exactly in point no 3 as it is almost the same thing what you mentioned.

well my apology. what i think u said they wanna see if u have invested £50k in that same business which u showed as level 4.