Qualifying business

Old Apr 25th 2005, 9:14 pm
  #1  
FGB
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Default Qualifying business

Under the entrepreneur category a qualifying business is defined by the following ' the business must not have been operated primarily for the purpose of deriving investment income (such as interest, dividends or capital gains)'

Can anyone tell me if a property company which bought, developed and rented out property and also bought, developed and sold property on a regular basis for the last ten years qualifies under this definition?

Every business is an investment of some sort so I am struggling with the definition.

Thanks

FGB
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Old Apr 25th 2005, 9:33 pm
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Default Re: Qualifying business

Originally Posted by FGB
Under the entrepreneur category a qualifying business is defined by the following ' the business must not have been operated primarily for the purpose of deriving investment income (such as interest, dividends or capital gains)'

Can anyone tell me if a property company which bought, developed and rented out property and also bought, developed and sold property on a regular basis for the last ten years qualifies under this definition?

Every business is an investment of some sort so I am struggling with the definition.

Thanks

FGB
Theya re trying to eliminate persons who make their living by trading securities on their own account.
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Old Apr 25th 2005, 9:36 pm
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Default Re: Qualifying business

Originally Posted by Jim Humphries
Theya re trying to eliminate persons who make their living by trading securities on their own account.
So rental properties are OK?

I earned more from the five or six properties I traded every year, than the 50 I let out....but I am worried that they will think my business was passive investment (it was nothing like passive shlepping round buildings every day making sure builders did what they were told and tenants were as happy as tenants can ever be).

The passive investment was a by-product.

Has anyone else got through the selection criteria with this sort of company?

Thanks Jim
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Old Apr 25th 2005, 11:45 pm
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Default Re: Qualifying business

Not enough info to even guess if it meets definition and criteria or not.

Why won't you ask one of authorized immigration practitioners for advice? Many of us (including myself) provide free evaluation. And I wouldn't recommend preparing Business class application on your own anyway - you'll waste more time and money than it costs to retain practitioner.

Originally Posted by FGB
So rental properties are OK?

I earned more from the five or six properties I traded every year, than the 50 I let out....but I am worried that they will think my business was passive investment (it was nothing like passive shlepping round buildings every day making sure builders did what they were told and tenants were as happy as tenants can ever be).

The passive investment was a by-product.

Has anyone else got through the selection criteria with this sort of company?

Thanks Jim
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Old Apr 26th 2005, 1:56 am
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Default Re: Qualifying business

I agree with Andrew here. We looked into using a consultant to work on our behalf, however at the time couldn't find one who was knowledgeable about this sort of thing so we had to go it alone. I am happy with the results now, but I know that if we had been able to find a worthy consultant initially, then a lot of time-wasting would have been saved. Business applications are not quite as cut and dried as Skilled Worker. There are some decent consultants on this forum whom I wish we had come across before we applied!
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