qualifying as investor

justin.g.s · Posted: Tue May 11, 2004 6:51 am Post subject: qualifying as investor

Hello, this should be a easy one. fingers crossed

My parents have been looking at buying a buisness to qualify.

Now they are thinking of trying as an investor. Do I have it right in that a one million dollar deposit in a nz bank would allow them to qaulify

They are both 56 If they were able to deposit 1 million n.z into a bank would that do the trick. Or would they need more due to there age?

NickH · Posted: Tue May 11, 2004 9:24 pm Post subject:

Justin - sorry, but not so easy.

Investors visas are granted on three 'qualifications'

a) Amount of money. Points go up if you have more money...
b) Business experience. You have to have been actively involved in business for several years (the more years, the more points you get)
c) Age. As you get older you start collecting minus points.

Therefore, as a quick calculation..

For someone 56 yrs old. Nil points
If (say) they had 4 years business experience ... 2 points
You need 12 points for the visa
Therefore you'd need NZ$5.5m.

Obviously this would be less if they had more business experience.

The full details are at: http://www.immigration.govt.nz/Migrate/Investor+Category.htm

I know all this because the figures are emblazoned on my brain. I'm trying to get the necessary together - and it's blinking difficult!

Hope this helps ... Nick

justin.g.s · Posted: Wed May 12, 2004 10:20 am Post subject:

Back to the drwaing board, are you boing to buy a buisness then Nick?

If so how is that going.

NickH · Posted: Wed May 12, 2004 9:27 pm Post subject: Buying a business?

Possibly. My main issue hangs around transferring pension funds to NZ. If I can do this, I will go the investor route and probably look to buy a business later (after a six-month holiday!).

My problem is that I'm 50 next year, so the amount of dosh [money] I need to take goes up by a cool million NZ$. Phew - need to get my skates on.

If the investor route doesn't work I'll go on a LTBV. However, this entails having to run another computer software company, which I've done for 16 years and fancy a change. In addition, to having someone looking over my shoulder doesn't really appeal. To apply for LTBV you have to start or buy a business using "appropriate skills." I think the NZIS theory is that you're more likely to succeed if you have already run a similar business.

Finally the LTBV involves a really good business plan, well-researched and full of benefits to NZ. This tends to preclude the 'lawn-mowing and B&B' type businesses that they are currently apparently swamped with.

As you can see this particular discussion is endless, and often a bit boring for people not going down the business route! Happy to continue by PM if you like.

Nick

Timbo · Posted: Thu Jun 03, 2004 6:02 am Post subject: ltbv

nickh. I think you will find that you can qualify for ltbv. with a minimum of 25% holding in a business. You could therefore (in theory) invest in new or existing software business but not have to be running the show, so maybe a change of scenery is possible. I have been looking into ltbv for coming up to a year, so I have a fair idea how frustrating it all is. Nutcase

Lee&Nicky · I Like It Here Joined: 15 May 2004 Posts: 70

Nick,

In an earlier post you say "if I can transfer pension funds". Does this mean that it is possible to include the value of your pension fund in your assets for the purposes of the investor category? If so, this could push me over that magical NZ$1m figure. Do you have to transfer into a fund that only invests in NZ based assets etc?

Thanks in advance for any enlightenment you can provide.

Lee

Jamie Smith · Posted: Fri Jun 04, 2004 6:48 pm Post subject:

Hi all

My understanding is you nominate funds and assets that are available to transfer ie will need to be liquidated and transferred within necessary timeframe.

Pensions and other things Ok, but if you can't get the capital value free and transferred to NZ, you will fall over

NickH · Posted: Tue Jun 08, 2004 12:36 am Post subject: Transferring pensions

Just to confirm. It is entirely possible to transfer these as part of your assets, but it's a real catch-22 situation. You can't export the pensions from the UK until you have residence in NZ. You can't get residence in NZ until your funds are transferred. Equals deadlock?

We've used a very bright couple of specialist pension/financial guys to help us do the move. Boils down to:

.. Line up all pension companies to make sure they will move the funds when you are ready
.. Go to NZ on the 'approval in principal' part of the investor visa
.. Get your self-employed status in NZ
.. Write to pension companies to tell them you are now NZ residents and have no intentions EVER to return permanently to UK
.. Wait for Pension co to transfer funds to a super fund you have already established in NZ to receive the UK funds
.. Confirm to NZIS the funds are now in NZ
.. Lie down with a glass of Cloudy Bay
.. Wait two years
.. Bingo you're a kiwi!

We've decided to go down an even more complicated route, by transferring several pension funds into a single SIPP.

BTW - this is all theory until proven. I'm trying to prove it even as we speak (my wife submitted our Investor visa at NZ House this morning - gulp)

Nick

Lee&Nicky · I Like It Here Joined: 15 May 2004 Posts: 70

Nick,

Thanks for the posting - very interesting and informative. Let us all know how things progress, particularly on the pension transfer etc. It seems there are a lot of "Catch 22" situations in the immigration process.

Very best of luck with your application!

Lee & Nicky