Is buying a business the way to go ?

Old Oct 20th 2011, 12:43 pm
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Default Is buying a business the way to go ?

Hi all, after 9 years of 'would love to ' talk we are now seriously looking at making the move to NZ.

Neither I (a Coach company owner/driver) nor my wife (bank staff) are skilled, so would not get in that way. But being self-employed I would love to stay so and buy a business in NZ (Wellington or Christchurch).
Is there any one on here that has done it that way? And if so, do you have any pointers as to the process and time scale.

Although I am in the bus industry I am fairly open to exploring different business ideas as I would like to move out of the bus game !!

Cheers
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Old Oct 20th 2011, 1:50 pm
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Default Re: Is buying a business the way to go ?

Hello and welcome. On the main NZ forum on the blue bar is a search option, type in LTBV and a lot of posts will come up that should answer some of your questions. Also check out the NZIS site for business visas. Good luck.
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Old Oct 20th 2011, 10:37 pm
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Default Re: Is buying a business the way to go ?

It's perfectly possible for you to buy a business here in NZ or a Franchise perhaps.
You would be looking at the Long Term Business Visa which involves quite some work. You will need to provide a business plan for starters and proof that you have previously run a business so I believe.
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Old Oct 21st 2011, 8:42 am
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Default Re: Is buying a business the way to go ?

Thanks folks. We're looking at a long term plan so thinking definitely the way we will be going, doesn't look easy but will be worth it

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Old Oct 23rd 2011, 8:01 pm
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Default Re: Is buying a business the way to go ?

You actually only need to own 25% of a business to be able to apply under the LTBV section, although you said you didnt want to stay in the transport industry perhaps if you were a partner it might be something to consider.

We looked into this for ages, but at present my husband is going over next saturday to see if the job he;s been offered is all its cracked up to be, so buying a business is on hold. If this doesnt pan out we will again re-visit LTBV.

You need a business plan, sufficient money to support yourself for 3 years (sorry cant remember the exact amount, but sure someone else will), and proof you have run your own business - you can download the LTBV form from the www.immigration.gov.nz website - worth a look.

Some will tell you its fraught with confusion and pain tryng to get a LTBV others will say they got theirs within 3 months, so I think its entirely up to the individual and their attitude and paperwork skills.

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Old Nov 6th 2011, 2:36 pm
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Default Re: Is buying a business the way to go ?

Only 25% !!! Makes it that bit more achievable !!! I've been thinking about it and I would miss the transport sector, especially the distance work where you get to see parts of the country you wouldn't normally get a chance to, so I'm keeping my mined open to going that route. It's one of those industries you kinda fall in to then get absorbed in to for life (I only got my PCV licence to apply for the ambulance service, 8 years on I own a bus co !!!)

From what I've read elsewhere you need to satisfy the case worker on a case by case basis but guide of 135k NZD is required for 3 years living and investment. Don't know how it works buying in to or out right a business that would be able to pay a wage from the start !!

Going to a expo in Feb so hopefully get right info there
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Old Nov 7th 2011, 6:04 am
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Default Re: Is buying a business the way to go ?

Hi

We originally came on the LTBV..what a nightmare....after speaking to an immigration adviser who is Kiwi and is based in Edinburgh but qualified in NZ and Australian immigration law he then advised us to swap visas when we arrived as it was going to work out a whole lot easier for us as my partners job had then became on the shortage list.
I had already been an investor in NZ for 3 years and supplied jobs to 12 kiwi's before I applied for a visa to live here and it was no easy haul.
One piece of advice......get an immigration adviser that knows his stuff.
It will cost you a fair amount but it will be money well spent.

Melloney
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Old Feb 26th 2012, 1:17 am
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Default Re: Is buying a business the way to go ?

We have just arrived (4 weeks ago) on LTBV as we bought a reputable franchise, having had our own business before. was a long process and couldnt have been achieved without a migration agency deling with the complicated and ever changing paperwork. had to do very thorough business plan and prove everything including our relationship (marriage cert is not enough) proof of finances very detailed. our franchise company helped us a lot as they have dealt with other immigrants too. finally we are here and although still in the honeymoon period, husband has started his business, i start a new job next week and 2 teenagers settled in college LOVE IT!!
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Old Feb 26th 2012, 1:19 am
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Default Re: Is buying a business the way to go ?

Originally Posted by mcshaneclan View Post
Only 25% !!! Makes it that bit more achievable !!! I've been thinking about it and I would miss the transport sector, especially the distance work where you get to see parts of the country you wouldn't normally get a chance to, so I'm keeping my mined open to going that route. It's one of those industries you kinda fall in to then get absorbed in to for life (I only got my PCV licence to apply for the ambulance service, 8 years on I own a bus co !!!)

From what I've read elsewhere you need to satisfy the case worker on a case by case basis but guide of 135k NZD is required for 3 years living and investment. Don't know how it works buying in to or out right a business that would be able to pay a wage from the start !!

Going to a expo in Feb so hopefully get right info there
see my recent post we have just arrived under lTBV as bought national franchise, great move, persevere its worth it
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