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Thread: Is starting a business a good idea after 6 months?

  1. #1
    Join Date
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    Default Is starting a business a good idea after 6 months?

    Hi,

    I have been recently approved Residence permit under SMC. I have couple of questions.

    1. Am I eligible to start a small business? (As I still didn't get PR)
    2. Can I start it after 6 months once reach NZ?

    Please let me know.

    Thanks,

  2. #2
    Join Date
    Feb 2008
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    Once you have Residence without any conditions, there is nothing to stop you starting a business. Here is a site with help on practical and legal issues. http://www.business.govt.nz/compliance

  3. #3
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    Thanks JandM. My status shows as "approved" and found nothing else added to it. Please let me know would that be enough or should I be quiet till I attain PR?

  4. #4
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    It is likely that with just 'approved', your Residence is without conditions. You will know for certain when you see the actual sticker in your passport - any conditions would be written on there. Why are you thinking PR would be important?

  5. #5
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    I haven't received my passport yet JandM. I actually overheard from one of the friends in NZ that PR is a must to start off a business. So I am just trying to have clarification. That's it! Thanks for your info.

  6. #6
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    I have a sightly different question. Is it OK in the interview to say that if you can't get a job you will either start your own business or retrain (two options for us)? Or best to keep it to looking for skilled employment.

  7. #7
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    Quote Originally Posted by oceanblue View Post
    I haven't received my passport yet JandM. I actually overheard from one of the friends in NZ that PR is a must to start off a business. So I am just trying to have clarification. That's it! Thanks for your info.
    What is probably happening here is that the friend knew about the old terminology, when PR was the first thing you got if you were accepted under Skilled Migrant - that has been renamed Residence since November, 2010.

  8. #8
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    Quote Originally Posted by dede View Post
    I have a sightly different question. Is it OK in the interview to say that if you can't get a job you will either start your own business or retrain (two options for us)? Or best to keep it to looking for skilled employment.
    Here is the detail of what the CO is looking for when interviewing you.

    http://www.immigration.govt.nz/opsmanual/index.htm Go to Residence » Skilled Migrant Category » SM21 Settlement and Contribution Requirements » SM21.10 Assessment of whether a principal applicant can realise their potential to successfully settle and contribute

    Notice particularly paragraph c:
    Skilled employment prospects are the primary consideration for the Immigration Officer when determining whether to grant residence, a SMC job search visa, or decline the application as set out in (d), (g), and (h) below. Note: Principal applicants who do not intend to take up full-time employment may not be considered to have good employment prospects (e.g. those who intend to undertake full-time study).
    Therefore, even though your plans to retrain, or run a business, are perfectly possible ways through FOR YOU, they won't tick the boxes for the CO, who HAS to be looking for 'employability', using the skill that you proved on your EOI. You need to be able to give information about all possible markets where you might find an opening, or get NZ experience by volunteering, or make more NZ contacts to network with in your field. It won't help you to tell them that you have plans to maybe do something else.

  9. #9
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    Oceanblue, just to answer it in different context - yes its quite possible to open up business and employ yourself under it. One of my ex-colleague has set up business in similar way and contracts himself to clients on regular basis.

    You may want to look after this thread for setting up business:
    http://www.enz.org/forum/showthread.php?36636

  10. #10
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    Thank you. That's very useful. I've applied for a couple of jobs, have interview with one in next week or so. Surprisingly there wasn't the Catch 22 situation I expected, I think because the SMC application is already in. However, the proof of the pudding will be in a job offer. Best to keep it simple re: other options.

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