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Buachaill
Buachaill, Barrister
Category: Law
Satisfied Customers: 10623
Experience:  Barrister 17 years experience
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HelloI am looking with reference to my application

Resolved Question:

Hello
I am looking for guidance with reference to my application for Tier 1 (Entrepreneur) Extension visa.
With regard to the section referring to Investment of funds would you be able to clarify Clause 131 please? I am looking to invest in commercial premises (to lease) for the purposes of running a film studio/rehearsal space. This would be used by my own business and rented out to other businesses. Would Clause 131 preclude me for this venture?
"The amount of money invested should not:
Include the value of any residential accommodation or property development or property management"
Many thanks
Athena
Submitted: 1 year ago.
Category: Law
Expert:  Nicola-mod replied 1 year ago.
Hello,
I've been working hard to find a Professional to assist you with your question, but sometimes finding the right Professional can take a little longer than expected.
I wonder whether you're ok with continuing to wait for an answer. If you are, please let me know and I will continue my search. If not, feel free to let me know and I will cancel this question for you.
Thank you!
Nicola
Customer: replied 1 year ago.

Please keep looking

Expert:  Nicola-mod replied 1 year ago.
Hello,
We will continue to look for a Professional to assist you.
Thank you for your patience,
Nicola
Expert:  Buachaill replied 1 year ago.
1. The idea of the restriction of property development, residential property and property management is to place passive rent seekers outside the ambit of the Entrepreneur visa. No one can gain an entrepreneur visa if they are not creating jobs and providing employment. The view has been taken that passive property investment does not contribute to the Uk economy in any meaningful sense, of it has been excluded from the notion of Entrepreneur. Accordingly, if you are considering investment in commercial premises, only the element of funds which relates directly to business premises for your own business will constitute the investment of funds for the purposes for the entrepreneur visa. So, if you invest funds to rent a building out to other businesses, this will not count as money invested, in computing the amounts invested for the purposes of the Tier 1 Entrepreneur visa. Only the element of investment which relates directly to your own business use can possibly count. However, this purchase of business premises should only be ancilliary to the primary purpose of running the business which attracts the Entrepreneur status. So, ,whilst it is permissible to own a film studio/rehearsal space, the primary purpose should be for your own business, not renting it out. Otherwise you will not attract Entrepreneur status. 2. Please RATE the answer as unless you RATE the Answer your expert receives none on the monies you have paid the website so there is no incentive to answer any further questions.
Buachaill, Barrister
Category: Law
Satisfied Customers: 10623
Experience: Barrister 17 years experience
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