Have had the company for the last 15Months, and Running-Help

OneOfyou · Post by **OneOfyou** » Thu Jun 13, 2013 1:13 pm

Hi everyone,javascript:emoticon(':)')

I became the director of a company when i got my PSW, the business is Running and and I have two employees working for me as well. It is a Interpreting and translation business so we provide services. and there is 50K plus in the account of the company.

Can anyone plz help me- If i need to form a new company or shall i apply through this one for Tier1 Entrepreneur Visa??

tier1in2014 · Post by **tier1in2014** » Thu Jun 13, 2013 4:21 pm

Have you checked if this business is nqf level 4 or above.

OneOfyou · Post by **OneOfyou** » Thu Jun 13, 2013 4:28 pm

kapoorinusa wrote:Have you checked if this business is nqf level 4 or above.

I believe it fits code 3412. we don't deliver all responsibilities but majority of them.

The only thing i am not sure about is the fact that i have been the director for more than a year. and the money in the account is all earnings rather than investment.

OneOfyou · Post by **OneOfyou** » Thu Jun 13, 2013 6:16 pm

kapoorinusa wrote:Have you checked if this business is nqf level 4 or above.

Yes it does fit in the SOC4

tier1in2014 · Post by **tier1in2014** » Thu Jun 13, 2013 7:06 pm

I think you will be ok with same company but you will have to show business activity like invoices bank statements etc. now for funds you can show 50k in business account it should be in persnal account . Only funds you can show in business account what ever you invested in your business . Check with your accountant and wait for some senier members reply as I am not sure abt all above .

OneOfyou · Post by **OneOfyou** » Thu Jun 13, 2013 7:16 pm

kapoorinusa wrote:I think you will be ok with same company but you will have to show business activity like invoices bank statements etc. now for funds you can show 50k in business account it should be in persnal account . Only funds you can show in business account what ever you invested in your business . Check with your accountant and wait for some senier members reply as I am not sure abt all above .

thanks for the reply, So you think the money SHOULDN'T be in business account it should be in my personal account. that is easy to transfer.

But do you think i need a Business plan, as this business is already running for three years now (15 months ago i became the director)

tier1in2014 · Post by **tier1in2014** » Thu Jun 13, 2013 9:34 pm

Yes business plan will answer lots of question for case worker . Try to keep 50k and maintaines account 2 different accounts . Try to send as much as proofs of your running business employee wage slips tax returnes business contract ( make sure signed by you and your clint ) .

KickAss · Post by **KickAss** » Thu Jun 13, 2013 11:27 pm

kapoorinusa wrote:Yes business plan will answer lots of question for case worker . Try to keep 50k and maintaines account 2 different accounts . Try to send as much as proofs of your running business employee wage slips tax returnes business contract ( make sure signed by you and your clint ) .

Yes , if your job is > nfq 4 then you are good.
Regarding company being older, my opinion is the older the better if you are actively trading.
Read through the policy guidelines and you will get answer of many questions, in case of doubts feel free to ask us.
No need to pay any Jack****.
Cheers

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Have had the company for the last 15Months, and Running-Help

Have had the company for the last 15Months, and Running-Help