Buying a business

Neil and Jane · Testing The Water Joined: 01 Jun 2004 Posts: 6

I have been looking into buying an established business in Whagerai, it employs 2 people and would aslo sustain me, there is strong growth potential.

I have an amount of experience in manging a similar venture and I am a senior manager in Marketing, I have aslo done simple small business management courses.

Does this cut any mustard with Imigration, could I do a work to residency route by being employed by the current owner and buying the business over say 2 years.

I'm sure someone here will have the answers.

Neil

Timbo · Posted: Fri Jun 04, 2004 12:40 am Post subject: buying business

Hi Neil. I dont know about the wtr thing with current owner, but I doubt this would wash with nzis. If you want to get in as business owner, you will need to look at either the investor cat. or long term business visa. Ltbv. requires that you have sutable experience of hands on running of business similar to that which you intend to buy. So if for instance your experience is in wholesale, you probably wont get in by purchasing a retail business. There are lots of ins and outs to this one. I suggest you get onto Jamie Smith at www.businessplans.co.nz
He is a specialist in long term business visas, and a great help. Good luck.
Tim fingers crossed

Jamie Smith · Posted: Fri Jun 04, 2004 6:52 pm Post subject: Re: Buying a business

Hi there

NZIS like to see evidence of control in finance, marketing, staff and operations. Partial business control is largely not acceptable.

I know this rules out most people and some exceptions do exist, but by and large you'll need to show either GM with full authorities, or near 100% shareholder, full owner, or sole director or self employed

cheers