Entrepreneur Visa

Old Apr 17th 2010, 5:36 pm
  #1  
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Default Entrepreneur Visa

I thought that we would qualify for this visa, however, on closer reading I'm not sure we will. My husband was Managing Dirctor and 25% shareholder in a successful print business up until 2004 when he resigned to buy and renovate a couple of properties. He has been employed as Commercial Director for another printing company for two and a half years but no investment. A couple of months ago he invested 5K and become a senior partner in a fledgling publishing business. If this business is successful and we don't get a decision on our application for more than 2 years does anyone think that we could qualify on this?
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Old Apr 17th 2010, 5:45 pm
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Default Re: Entrepreneur Visa

Hi

Originally Posted by buzzz View Post
I thought that we would qualify for this visa, however, on closer reading I'm not sure we will. My husband was Managing Dirctor and 25% shareholder in a successful print business up until 2004 when he resigned to buy and renovate a couple of properties. He has been employed as Commercial Director for another printing company for two and a half years but no investment. A couple of months ago he invested 5K and become a senior partner in a fledgling publishing business. If this business is successful and we don't get a decision on our application for more than 2 years does anyone think that we could qualify on this?
IMHO Probably not as per

Business experience

You must have managed a qualifying business and have had control of a percentage of equity of the qualifying business for at least two years in the period that begins five years before you submit your application and ends when a decision is made on your application.

Qualifying business means a business—other than a business operated primarily for the purpose of deriving investment income such as interest, dividends or capital gains—for which, during the year under consideration, there is documentary evidence of any two of the following:

1. the percentage of equity multiplied by the number of full-time job equivalents is equal to or greater than two full-time job equivalents per year;
2. the percentage of equity multiplied by the total annual sales is equal to or greater than $500,000;
3. the percentage of equity multiplied by the net income in the year is equal to or greater than $50,000; and
4. the percentage of equity multiplied by the net assets at the end of the year is equal to or greater than $125,000.
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