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Buying a business in NZ

Buying a business in NZ

Old Jan 22nd 2002, 10:33 pm
  #1  
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Is it worth the risk, apart from the business risk, to buy an existing business in New Zealand and then apply or whilst applying, for residency? I have around NZ$300,000 which I am planning to use to purchase a business. I have heard about people who have failed in their residency applications and are unable to run or sell their businesses.
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Old Jan 23rd 2002, 4:25 pm
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John, I'm sorry I can't answer your question (I wish I could) but we're in exactly
the same position as you. Are you planning to visit the emigrate show at all? When
you say that you've heard about people failing in their apps etc is that from talking
to people or do have have another source of info? Like you I find that bit somewhat
allarming. If you find out anything on this, would you post again? Thanks Pat.

JohnE <[email protected]>
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Old Jan 23rd 2002, 10:47 pm
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Hi there, It's just what I read in the papers, and interpereted from reading the official information regarding entrepeneur categories, I suppose that there are many countries, even Britain, who have to protect their national interests by keeping out those who they deem to not put enough into the country as they should do, and New Zealand is quite right to do so.
There are things like, supposing if the business can't support x amount of local employees or doesn't make as much profit as the regulations stipulate. I suppose there has to be some flexibility. It's a huge step though, and it's a long way to go back if things go wrong!
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Old Jan 24th 2002, 7:47 am
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Hi John, My understanding is that as long as you can show (and do over time) that you
can improve and 'modernise' a business by either regenerating an existing one or
starting a new one then you should be ok. I think a chat with NZIS would be a good
start. Have you seen the criteria that they use to grade an application yet? its very
interesting and will help with a business plan. I'm not entirely sure you *have* to
employ anyone as long as you can support yourself and improve your business but I
could be wrong. I don't think the profit thing is that much of an issue either
(unless you know different?)except for your own satisfaction/needs. I feel its much
more flexible than other countries for at least they give you a chance with a
temporary visa for 3 years for you to prove your abilities. That said, I couldn't
agree more about the risk. I also have 2 dogs which will come with us and I can't
afford a stuff up or run the risk of having to return to the country I'm trying to
get out of! Nor do I want the dogs to go into quarrantine back here. The other risk
for us is that we live in the country's area of highest unemployment and Tim's just
managed to get a reasonably paid job. If he gives that up, goes, fails we end up
having no income at all....big risk but probably worth it. I've got a big list of web
sites I've gathered which may help you if you want them but it'll take a bit of time
to get them together. Just shout if you want them.

If I find out more, I'll post again. Regards, Pat.

JohnE <[email protected]>
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Old Jan 24th 2002, 5:37 pm
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Thanks for the info, I am planning a move to NZ sometime in the next 2 or so years. I have a business here which is successful, so it's a big risk, one I'm preparing to take however, but in business risks have to occasionally be taken to move forward (in some cases downward!). I suppose it's as easy, if not easier to fail in business here than most places in the world. If you can make it in Britain you can make it anywhere!
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