Thinking About a Tier 1 Visa? Do You Know Your Duties as a Director?
Most Tier 1 Visas are issued for the purpose of investment in a UK company, either one you intend to set up yourself or one in which you intend to invest.
The duties that apply to a UK Director are often overlooked.
You must be active as a Director under the terms of your visa but these duties still apply even if you were inactive. You must act in good faith and promote the success of your company. You must exercise reasonable care, skill and diligence and perform your role to a high standard.
There are other duties such as not to misuse the property of the company. There is also a duty of confidentiality. You must be loyal. You must comply with the constitution of the company. You are meant to observe a high standard of conduct.
This is not an exhaustive list but an indication of some important aspects of your role. Our team includes corporate lawyers who can help explain these duties and assist you with any questions. Even if you own 100% of the company you cannot ignore these obligations as third parties can hold you to account if you do.
Visa Kings Global also provide mentoring services that could make things easier as well as a series of educational videos to increase your knowledge about matters involved in running a business in the UK.
For advice and assistance with any of these matters, please get in touch and we’ll do our best to help.