Thinking Of Buying A Business In California
#16
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Re: Thinking Of Buying A Business In California
fatbrit, (seems a bit unflattering),
I have a transport and storage/fulfilment business with 25 employees, been going around 7 years, and I will probaly have about $220k to invest in a new business or start up business, I don't intend to sell my company as it is still growing strong and I can do alot of my work via remote pc, I also have big brother access through my cctv via the web, so I can keep an eye on things, so I can be away from the country. My fiance has an Hair salon in Japan (yes she's Japanese) and we were contemplating either buying an established salon or possibly setting up our own, I guess whichever is the easiest route.
I have a transport and storage/fulfilment business with 25 employees, been going around 7 years, and I will probaly have about $220k to invest in a new business or start up business, I don't intend to sell my company as it is still growing strong and I can do alot of my work via remote pc, I also have big brother access through my cctv via the web, so I can keep an eye on things, so I can be away from the country. My fiance has an Hair salon in Japan (yes she's Japanese) and we were contemplating either buying an established salon or possibly setting up our own, I guess whichever is the easiest route.
And even if, in theory, you could run your UK business remotely, would it really be practical. What about all the tax implications of running business in both countries. (Do you REALLY want to get involved with the IRS?).
Plus no long-term security of legal status. Not to mention the huge worry about healthcare (This is something which you really need to look into before you go too far down this route - most Brits have NO IDEA of the costs involved...)
Altogether I am wondering whether somewhere in the EU might no be easier.
#17
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Re: Thinking Of Buying A Business In California
Thanks for the encouragement
#19
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Re: Thinking Of Buying A Business In California
With the greatest of respect and not wishing to annoy, I just found your message a touch negative as I am looking to live in the states and not in the EU. I could invest more $$$ but do not want to put all my eggs in one basket and I have read testimonials from people who have invested less and have still managed to secure their move to the US.
#20
Re: Thinking Of Buying A Business In California
With the greatest of respect and not wishing to annoy, I just found your message a touch negative as I am looking to live in the states and not in the EU. I could invest more $$$ but do not want to put all my eggs in one basket and I have read testimonials from people who have invested less and have still managed to secure their move to the US.
If you think you know of stories of people doing it with less $$, post a link and maybe someone here can point out any major differences between that story and you.
#21
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Re: Thinking Of Buying A Business In California
With the greatest of respect and not wishing to annoy, I just found your message a touch negative as I am looking to live in the states and not in the EU. I could invest more $$$ but do not want to put all my eggs in one basket and I have read testimonials from people who have invested less and have still managed to secure their move to the US.
Have you checked out Ray yet? His website should give you tons of information - even though it's about Florida...)
NB: Where were you planning to live in California? (Have you checked out house prices? )
#22
Re: Thinking Of Buying A Business In California
With the greatest of respect and not wishing to annoy, I just found your message a touch negative as I am looking to live in the states and not in the EU. I could invest more $$$ but do not want to put all my eggs in one basket and I have read testimonials from people who have invested less and have still managed to secure their move to the US.
You must have an idea of how difficult it is to get a visa in Japan, the US is no different.
Most people who get here are through marriage, then through a company transfer (L1 from a multinational type of company to be realistic), and then a work sponsored H1 and that was has its own pitfalls, not to mention really tough to get, this years quota being met even before they started for instance.
#23
Re: Thinking Of Buying A Business In California
fatbrit, (seems a bit unflattering),
I have a transport and storage/fulfilment business with 25 employees, been going around 7 years, and I will probaly have about $220k to invest in a new business or start up business, I don't intend to sell my company as it is still growing strong and I can do alot of my work via remote pc, I also have big brother access through my cctv via the web, so I can keep an eye on things, so I can be away from the country. My fiance has an Hair salon in Japan (yes she's Japanese) and we were contemplating either buying an established salon or possibly setting up our own, I guess whichever is the easiest route.
I have a transport and storage/fulfilment business with 25 employees, been going around 7 years, and I will probaly have about $220k to invest in a new business or start up business, I don't intend to sell my company as it is still growing strong and I can do alot of my work via remote pc, I also have big brother access through my cctv via the web, so I can keep an eye on things, so I can be away from the country. My fiance has an Hair salon in Japan (yes she's Japanese) and we were contemplating either buying an established salon or possibly setting up our own, I guess whichever is the easiest route.
#24
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Re: Thinking Of Buying A Business In California
With that number of employees and the age of the company, you shouldn't have trouble opening a branch here, providing the balance sheet looks good - find a good immigration attorney that specializes in L1A's. Look through the AILA website.
Edit: What fatbrit said.
Adding - costs are pretty high in California - be prepared for a bit of a shock in startup costs.
Edit: What fatbrit said.
Adding - costs are pretty high in California - be prepared for a bit of a shock in startup costs.
#25
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Re: Thinking Of Buying A Business In California
I have been looking on realtor.com at the cost of housing in California and I know it is more expensive than many other parts of US but at this stage I have an open mind !! I am going to visit my cousin who lives in San Diego in August, and I will be checking out the area. My fiance is the driving force towards California as it is closer for her to travel back to Japan, I have vacationed in Florida, which I really liked apart from the bland countryside (to flat) but the people were very warm. I lived in Pittsburgh for 6 months and loved it there also. I understand where your coming from regarding healthcare , tax etc, but the Uk is incredibly expensive these days we are taxed to the hilt, pensions are worthless, fuel is extortionate, house prices have rocketed and are virtually unobtainable for the young, the NHS is collapsing and will probably be privatised over the coming decade, nobody wants to work unless their Polish, there are enough reasons for me to want to move away.
#26
Re: Thinking Of Buying A Business In California
I have been looking on realtor.com at the cost of housing in California and I know it is more expensive than many other parts of US but at this stage I have an open mind !! I am going to visit my cousin who lives in San Diego in August, and I will be checking out the area. My fiance is the driving force towards California as it is closer for her to travel back to Japan, I have vacationed in Florida, which I really liked apart from the bland countryside (to flat) but the people were very warm. I lived in Pittsburgh for 6 months and loved it there also. I understand where your coming from regarding healthcare , tax etc, but the Uk is incredibly expensive these days we are taxed to the hilt, pensions are worthless, fuel is extortionate, house prices have rocketed and are virtually unobtainable for the young, the NHS is collapsing and will probably be privatised over the coming decade, nobody wants to work unless their Polish, there are enough reasons for me to want to move away.
You two need to get married beforehand so as not to complicate matters. Then, the dependent spouse will be allowed to work wherever s/he wants. Be warned that the L1a's use for normal folks (i.e. not senior management @ Micro$oft or GM, etc) is becoming more and more popular and, consequently, they are tightening it up all the time. Forget to dot an "i" or cross a "t" and you'll never get the visa or - much worse - you'll not get a renewal after the initial issue.
#27
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Re: Thinking Of Buying A Business In California
Thanks to everyone that has posted a reply, it's given me a great deal to digest and I appreciate your honesty. I will look into all the options and see where it takes me. I will let you know how I get on.
Cheers
Bristol Based Brit
Cheers
Bristol Based Brit
#28
Re: Thinking Of Buying A Business In California
I have been looking on realtor.com at the cost of housing in California and I know it is more expensive than many other parts of US but at this stage I have an open mind !! I am going to visit my cousin who lives in San Diego in August, and I will be checking out the area. My fiance is the driving force towards California as it is closer for her to travel back to Japan, I have vacationed in Florida, which I really liked apart from the bland countryside (to flat) but the people were very warm. I lived in Pittsburgh for 6 months and loved it there also. I understand where your coming from regarding healthcare , tax etc, but the Uk is incredibly expensive these days we are taxed to the hilt, pensions are worthless, fuel is extortionate, house prices have rocketed and are virtually unobtainable for the young, the NHS is collapsing and will probably be privatised over the coming decade, nobody wants to work unless their Polish, there are enough reasons for me to want to move away.
Going somewhere for the benefits and adventure is worth while, leaving somewhere because you think the nation is crap isn't, it's much cheaper to just move around the country.
And when you live here, your earning $ not £, so don't think in terms of the exchange rate, holiday mode soon gets you screwed.
And don't forget to factor in plenty of taxes, CA is particularly good for that....that and all those things you mention, well your'll be paying medicare/caid, SS as you do in the UK, but here, you'll have to pay for medical insurance on top and the pension isn't worth salt here either...reason why you see so many elderly people in their 70's + working in walmart as greeters.
#29
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Re: Thinking Of Buying A Business In California
My point about Polish workers is that I employ 4 great guys that have come to the UK to work, I employ them because it is difficult to find British workers especially in the service industry, it's part of the problem of this country right now. I welcome anyone into the Uk who come for the right reasons, I listen to alot of resentment from my own british staff concerning my decision to give those guys employment. I am marrying a Japanese lady, that should give away my credentials !! I'm looking to leave the Uk for many different reasons, but the UK being crap is not one of them, but I am looking for a new challenge in my life.
#30
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Re: Thinking Of Buying A Business In California
What fatbrit said is very important to note.
You get your L1A initially to be able to get the company on its feet. That is given for a year I think it is (might have changed). You have to prove that your business is well on its way to being established, with a number of employees or else they deny your application for extension and you have to leave. You don't have to close the business but you have to get a manager to do it (USC/Perm resident). That is one of the reasons you need quite a tad of capital to start off with. You need to be paying 4 or more people wages for that year in order to get the extensions.
You get your L1A initially to be able to get the company on its feet. That is given for a year I think it is (might have changed). You have to prove that your business is well on its way to being established, with a number of employees or else they deny your application for extension and you have to leave. You don't have to close the business but you have to get a manager to do it (USC/Perm resident). That is one of the reasons you need quite a tad of capital to start off with. You need to be paying 4 or more people wages for that year in order to get the extensions.