Entrepreneur Extension

[amjadsiddiqui]

Dear members,
Please help
My extension is due next year but the problem is, i have taken over a running business in which i inherited employees, how can i just get rid of them and hire new employees for visa? Pease advise

Second, it says i have to invest, but what if i have invested into a business with a loan? I mean i am the one who is paying off the loan on monthly basis, then why ukba could have any issues on this?
Please advise this in details.....

Thanks
Jad

[Lucapooka]

My extension is due next year but the problem is, i have taken over a running business in which i inherited employees, how can i just get rid of them and hire new employees for visa? Pease advise

Think of new as additional or extra (as per the guidance):-

83.Where you have taken over or invested in an existing business, your services and investment must have resulted in the businesses providing, between them, the equivalent of two extra full-time jobs during the period when you held leave as a Tier 1 (Entrepreneur) migrant

You can't simply fire 2 and hire 2 others in replacement; and to suggest this is absurd. If the business had, say, 2 employees when you joined, it must have 4 (or two more) when you extend. If one of the original workers left during the first three years, you would then have to hire 3 to keep the total of 4 (being two more than the original workforce before your arrival).

Read the guidance for information on director's loans (or talk to your accountant if that is not clear to you).

[samaygrg]

Agreed with Lucapoca.

[MTZ510]

Will be an interesting situation if a Tier 1 Entp gets a personal loan from financial institution and then invest that money in to his company/business.

Will it be counted as investment ?

@ Lucapooka
Can you share your opinion on the following situation.

If a newly incorporated limited company buys a running franchise business and retains the employees then whether this will count as new employment?
remember now the employees will be working in same franchise but with a new company.