Studying in UK while running my million dollar online business

[studentvisamillionaire]

I'm in a crisis.

I got accepted into one of the most prestigious universities in the world in the United Kingdom.

I run a business (agency) that does $1 million a year which is completely online and all of the employees work remotely from their home.

We all know It's illegal to work in the United Kingdom as a student.

If I stop operating this business just to study in the UK, I'd potentially lose millions of dollars in the next 4 years and by the time I return back the business might get too saturated or might become too competitive to make money.

So I have few options:

1. Do not attend the prestigious university in the UK and keep making money from here in Asia.

2. Attend the university and quit running the business for the next 4 years.

3. Attend the university and run the business at the same time.

I'm thinking of selecting the 3rd option.

I have company and bank account registered in my home country, I plan to send all client payments back to my country and just manage the business from the UK.

I want to what options do I have: Should I give up potentially millions of dollars or attend the university or take some risks of deportation and keep managing the business online while studying in the UK?

 

[RealDude]

You're asking this in a forum dominated by academics, right?

 

[Sols]

As long as you aren't taking up employment physically in the UK or using your presence in UK to do business with UK customers and companies, the work limitations for students are rarely enforced and not a high priority. Those laws are primarily written to prevent student visas from being abused to enter the local job market. So while I wouldn't recommend it because it's probably illegal, option 3 is likely not a very high risk. But you can take steps to further reduce the risks, if not outright eliminate them entirely.

Consider appointing someone you know and trust as a director of the company and have them run the business on paper, while you step down as a director. You can remain a shareholder. As a shareholder, you can give the director guidance on how to run the business so you can still be moderately involved. Just make sure the new director is signatory on the bank accounts, signs agreements, and so on. Make your role as passive as possible and leave no easily detected trail of you directing the director too much.

You'd be taking a risk, though.

Or wait one or two years with university. See how far you can grow your business. If your business is your passion and absence of a degree isn't holding you back from achieving your dreams and goals, it's a lot more satisfying to run a business than to attend lectures, write essays, and take exams.

 

[Mercury]

Depending on what you're looking for:

- If you want to flatter your ego, go 100% with the prestigious university option.
- If you want to maintain/grow your wealth, focus 100% on your current business expanding and diversifying it.
- If you want to run both routes simultaneously, you may end up failing it all... unless you are exceptionally clever/lucky.

When making an important decision, always listen to your gut.

 

[studentvisamillionaire]

You're asking this in a forum dominated by academics, right?

I posted it on a subreddit and they were flat out jealous of me and were being rude, like all of them : /

As long as you aren't taking up employment physically in the UK or using your presence in UK to do business with UK customers and companies, the work limitations for students are rarely enforced and not a high priority. Those laws are primarily written to prevent student visas from being abused to enter the local job market. So while I wouldn't recommend it because it's probably illegal, option 3 is likely not a very high risk. But you can take steps to further reduce the risks, if not outright eliminate them entirely.

Consider appointing someone you know and trust as a director of the company and have them run the business on paper, while you step down as a director. You can remain a shareholder. As a shareholder, you can give the director guidance on how to run the business so you can still be moderately involved. Just make sure the new director is signatory on the bank accounts, signs agreements, and so on. Make your role as passive as possible and leave no easily detected trail of you directing the director too much.

You'd be taking a risk, though.

Or wait one or two years with university. See how far you can grow your business. If your business is your passion and absence of a degree isn't holding you back from achieving your dreams and goals, it's a lot more satisfying to run a business than to attend lectures, write essays, and take exams.

Appreciate the detailed reply, I think I've got my answer. I'll step down from everywhere and appoint my dad as the director, have him do the paperworks and stuff while I direct my virtual assistants and managers while in the UK.

I'll take some risks on this

Depending on what you're looking for:

- If you want to flatter your ego, go 100% with the prestigious university option.
- If you want to maintain/grow your wealth, focus 100% on your current business expanding and diversifying it.
- If you want to run both routes simultaneously, you may end up failing it all... unless you are exceptionally clever/lucky.

When making an important decision, always listen to your gut.

I agree on failing both of it, but I'll give more time and effort on growing the business and it's almost automated, I just check if everyone's doing what they need to do and not cheating by working 1 hour while logging 7 hours.

 

[JackAlabama]

Never give up a business like that.

University all nice and dandy, but it won't be as glorious as it is made to be. (In Asia it is being seen as very good tho). I have a degree since a good decade or so, but it is not as useful as it once was. (I actually think it is relatively useless).

Try to cut back on the course load each semester (maybe add one year or two, which should be possible) and try to outsource all parts of the business to your family and only run the most critical part yourself.

 

[JohnnyDoe]

If you have the balls, you can successfully manage both the university and your business, and also find the time to have fun.
You might also find some good professor who could help you with the business. And business partners among fellow students. Plus, maybe, your wife

 

[KDX]

In any case, definitely run the business no matter what. I think you would be fine with running it in the UK, maybe just don't brag about it

 

[studentvisamillionaire]

Never give up a business like that.

University all nice and dandy, but it won't be as glorious as it is made to be. (In Asia it is being seen as very good tho). I have a degree since a good decade or so, but it is not as useful as it once was. (I actually think it is relatively useless).

Try to cut back on the course load each semester (maybe add one year or two, which should be possible) and try to outsource all parts of the business to your family and only run the most critical part yourself.

ah yeah and my parents are going crazy over it, if nothing works out, they want me to abandon the business and fly to UK just for that damn degree.

Even those graduates, they probably make $80k $100k a year max and if i were to return back to my shitty country, salaries would be more like $5k to $10k a year.

If you have the balls, you can successfully manage both the university and your business, and also find the time to have fun.
You might also find some good professor who could help you with the business. And business partners among fellow students. Plus, maybe, your wife

haha well yeah, I'll try to run the business in secrecy tho to not attract the wrong eyes

 

[KDX]

ah yeah and my parents are going crazy over it, if nothing works out, they want me to abandon the business and fly to UK just for that damn degree.

Are you going to university only because of your parents? Please understand that many parents do not understand anything about business so if you are doing this not because of your own will, then please reconsider!

 

[studentvisamillionaire]

In any case, definitely run the business no matter what. I think you would be fine with running it in the UK, maybe just don't brag about it

yes will definitely run while not being the direct director or even shareholder, i can make my parents the real company owners while i be the stupid rich kid with a leased lambo in london haaha

Are you going to university only because of your parents? Please understand that many parents do not understand anything about business so if you are doing this not because of your own will, then please reconsider!

Partially yes, while i have no use case of that degree I think it'd be cool to have that on my profile Graduate of X university + London seems interesting, I actually want to attend as the business is semi automated already, I just look after the employees and make sure they dont cheat the work hours while working remotely.

 

[KDX]

Partially yes, while i have no use case of that degree I think it'd be cool to have that on my profile Graduate of X university + London seems interesting, I actually want to attend as the business is semi automated already, I just look after the employees and make sure they dont cheat the work hours while working remotely.

Seriously, nobody cares about your degree if you have ran a business that gets 1m+ revenue per year! That is what people want to see not that you have graduated. Anyone can graduate but not everyone can be successful!
Think about this, if you were hiring someone and you saw 2 resumes:

1. "Graduate of X University"
2. "Founded a company that generated revenue/profit of $1,000,000+ a year"

What do you think is more impressive? Obviously the 2nd.
Only go to university if YOU think that with that knowledge you will be able to turn that million into 5 million or even more and that there's nothing else that makes more sense or that could somehow elevate that. Do NOT go because of just some degree, because you have already seen what success is and you have the necessary skills to run such an enterprise; something that just school will be able to give you! So if you genuinely think your business will blow up after going to university because of something you learnt there, then go ahead. If not, you are wasting your time because you have already the things that a graduate would have.

 

[MiddleEuroAsia]

Seriously, nobody cares about your degree if you have ran a business that gets 1m+ revenue per year! That is what people want to see not that you have graduated. Anyone can graduate but not everyone can be successful!
Think about this, if you were hiring someone and you saw 2 resumes:

True, but you have to look at it from the perspective of the people in this forum.
in that sense, a Uni degree will be definitely helpful, because as @JackAlabama said, in Asia, it's very important, since a lot of financial institutions and government agencies ( plus regular Co workers) will judge you pretty hard if you don't have that piece of paper.

Add to that, plenty of Residency programs treat you differently based on the level of Education that you have, so as much as I'd like him to focus on his business and nothing else, he is still young, and if he can manage to macro managing (and not micro managing) his business, then he can achieve the best of both world while simultaneously living in london for a couple of years - tax free.

 

[12345]

To run a business and study at the same time is very hard to do, I tried and failed, I think you need to abandon one . It's not about time but about attutide mainly, to study you need to be more childish and to run a business more mature and serious, it is very hard if not impossible to combine both but of course it also depends on your personality and nature of your business.

I posted it on a subreddit and they were flat out jealous of me and were being rude, like all of them : /

Hahaha I wouldn't expect anything else from these clowns

 

[JohnnyDoe]

To run a business and study at the same time is very hard to do, I tried and failed, I think you need to abandon one . It's not about time but about attutide mainly, to study you need to be more childish and to run a business more mature and serious, it is very hard if not impossible to combine both but of course it also depends on your personality and nature of your business.

It depends what you study. For example, it might be harder to study physics while running a business, but faculties like law or business administration are pertinent and so useful for the business itself that eventually you will have to study those subjects anyway.

 

[KDX]

Hahaha I wouldn't expect anything else from these clowns

Yup, Reddit is the most toxic discussion website/app I've come across. You get downvoted/s**t on for doing anything out of the norm or their crazy socialist liberal views.

 

[MiddleEuroAsia]

Yup, Reddit is the most toxic discussion website/app I've come across. You get downvoted/s**t on for doing anything out of the norm or their crazy socialist liberal views.

True for the most part, but their are hidden gems in there, and other popular subs that cater to people like us.

 

[Silvio]

True for the most part, but their are hidden gems in there, and other popular subs that cater to people like us.

Which subs for example?

 

[MiddleEuroAsia]

Which subs for example?

don't know if it's allowed here or not. but r/expatfire and r/fatfire are good examples. You find some good gems there and it's great for networking if you do business in the US.

 

[JohnnyDoe]

I'm in a crisis.

I got accepted into one of the most prestigious universities in the world in the United Kingdom.

I run a business (agency) that does $1 million a year which is completely online and all of the employees work remotely from their home.

We all know It's illegal to work in the United Kingdom as a student.

If I stop operating this business just to study in the UK, I'd potentially lose millions of dollars in the next 4 years and by the time I return back the business might get too saturated or might become too competitive to make money.

So I have few options:

1. Do not attend the prestigious university in the UK and keep making money from here in Asia.

2. Attend the university and quit running the business for the next 4 years.

3. Attend the university and run the business at the same time.

I'm thinking of selecting the 3rd option.

I have company and bank account registered in my home country, I plan to send all client payments back to my country and just manage the business from the UK.

I want to what options do I have: Should I give up potentially millions of dollars or attend the university or take some risks of deportation and keep managing the business online while studying in the UK?

attending university while making good money is going to be one of the most entertaining periods of your life. Even if you don’t obtain good grades, you will not regret it.