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How much involvement required to run NZ business?

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  • How much involvement required to run NZ business?

    I am thinking about buying an existing established NZ business employing
    local staff. One of the main employees will be a close friend of mine who
    will be in charge of running the business. My aim once the business is
    established would be to apply for a LTBV, migrate and take full charge and
    then to seek for permanent residency. My question is how much involvement is
    required by me initially to run the business, do I have to be in NZ, or can
    it be done from the UK?



  • #2
    How much involvement required to run NZ business?


    Originally posted by Richard Lewis
    I am thinking about buying an existing established NZ business employing
    local staff. One of the main employees will be a close friend of mine who
    will be in charge of running the business. My aim once the business is
    established would be to apply for a LTBV, migrate and take full charge and
    then to seek for permanent residency. My question is how much involvement is
    required by me initially to run the business, do I have to be in NZ, or can
    it be done from the UK?
    IT IS MY FIRM BELEIF THAT YOU MAY APPLY AND GET A LTBV. EVEN IF YOU DONT
    INTEND TO LIVE IN N.Z IT GIVES YOU THE RIGHT TO RUN A N.Z BUSINESS FROM
    ANOTHER COUNTRY. HOPE THIS HELPS


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    Posted via http://britishexpats.com

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    • #3
      How much involvement required to run NZ business?


      Quote from the NZIS Operations Manual -


      A principal applicant* for a Long Term Business Visa/Permit must:

      have completed a business plan* that meets the requirements of BC4.5 for their business proposal; and
      have business experience relevant to their business proposal; and
      not have been involved in bankruptcy or business failure within the 5 years preceding the date their application was made*; and
      not have been involved in business fraud or financial impropriety; and
      have obtained professional or occupational registration in New Zealand if registration is required for operating the proposed business, and
      have, in addition to investment capital, sufficient funds (see BC6.1) for their maintenance and accommodation and that of any partner* and/or dependent children* who are applying for temporary visas and/or permits to accompany the principal applicant* to New Zealand; and
      meet Health and Character requirements policy (see A4 and A5); and
      meet the minimum standard of English (see BF); and
      satisfy a business immigration specialist that they are genuinely
      interested in establishing the business in New Zealand.You do
      not have to live permanently in NZ to qualify but my understanding is
      that you are expected to have some involvment in the day to day running
      of the business. I'm sure I've read something about it on the Business
      Migration Unit site but can't find it at the moment.



      Can I invite you to continue this discussion on the LTBV & Business
      forum at www.benz1.com/forum?



      Ben


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      Posted via http://britishexpats.com

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