163 Business visa

[paulhug]

I would be interested to hear what kind of business people are hoping to buy or start up.

 

I bought a business on the Sunshine coast and am in the 2nd year of trading which is the year we need to get the turnover to fulfill the criteria for our permanent visa.

 

So what are we hoping to do people???

[paulhug]

???? No-one wanna tell???

[163ALLOUT]

Hi Paul

 

I am aiming to carry on with the same business I have in the UK which is the design and manufacture of aluminium windows and doors etc.

What business are you in? We are heading to the SC (Caloundra area) hopefully next July. Any tips on setting up a business over in Australia? Any advise welcome

 

Thanks

 

Jon

[PARBUTTN]

Hi Paul,

 

I am arriving in Coolum/Noosa in 2 weeks. Hubby had a construction company here, but I put in a second business plan for a coffee shop. Have met and spoke to a couple of franchisers, not sure whether i want to play it safe or have my own, just an easy life for our visa.( I dont think so some how)

What do you do and where do you live? any regrets?

 

nicki x

[paulhug]

Hi Jon and Nicki,

 

I had a building company in the UK, wife was a teacher. Our intention was to buy or build a childcare centre. The right place just never turned up. When we got a letter setting out the criteria for our visa we realised we did not have to invest as much money as we thought we would. We decided to change our business plan, (just a letter stating the reasons for the change) I ended up buying a Manufacturing and Installation Company. Cobbs Canvas | Shadezone | Camper Trailers | Camper & Caravan Annexes | Shadesails | Ute & 4WD Canopies | Caloundra, Australia and the wife went back to relief teaching.

The main criteria that i personally need to fulfil is turnover, we satisfy all the others. We have been here just over 2 years and i am just into my second year with the business, hopefully i will get the turnover this year, i dont want to leave it til our final year and have the threat of being kicked out hanging over us.

Jon, i think you will be better buying an existing business with a decent turnover rather than setting up, there are quite a few window/door companies and you will not be able to build up the contacts or contracts you need, overnight.

Nicki, we have friends in Coolum, Coolum and Noosa both have quite a few coffee shops/ cafes, i would wait to see what criteria is set out when you get here before deciding on a franchise or not. Also, location is the most important thing for you so rent is not going to be cheap, it may pay to buy a unit in a prime area, the value can only rise. Anyway good luck to you both, if you need any advise i'll help if i can.

 

Paul

[PARBUTTN]

Hi paul,

 

Quite reassuring to hear you are doing something completely different than you previously done. Removals finished today and I just want to get going now!!! Contacteda coffee franchisor looking to open a store in Sunshine Plaza in Maroochydore in April, fantastic location, and quite a safe bet, have been looking for the last 3yrs for business for sale in Coolum/Noosa area so have to wait and see, I know nothing about the industry, but what a new challenge for our adventure, must be mad!!

[163ALLOUT]

Hi Paul

Thanks for your advise.

I have been looking at companies for sale recently, I take on board your comments about starting from scratch, seems a big gamble when you don't know the local market.

I will take a bit of time to have a look around before commiting to buy.

What made you diversify into the business you have rather than construction if you don't mind me asking?

We are thinking of heading to the Mooloolaba/Pelican/Kawana region, where would you recommend for a family containing two boys aged 12 & 7?

We visited last year for a month and loved the area.

Hopefully be joining you on the sunshine coast July 11 so any more advise would be appreciated

 

Thanks Paul

 

Regards

 

Jon

[paulhug]

Hi paul,

 

Quite reassuring to hear you are doing something completely different than you previously done. Removals finished today and I just want to get going now!!! Contacteda coffee franchisor looking to open a store in Sunshine Plaza in Maroochydore in April, fantastic location, and quite a safe bet, have been looking for the last 3yrs for business for sale in Coolum/Noosa area so have to wait and see, I know nothing about the industry, but what a new challenge for our adventure, must be mad!!

 

Hi Nicki,

 

there was a Starbucks coffee franchise already in the food court at the plaza that closed down. That would be a really good location, but dont dive in, feet 1st into it. Wait until you get here and find out the criteria you have to fulfil.

 

Paul

[paulhug]

Hi Paul

Thanks for your advise.

I have been looking at companies for sale recently, I take on board your comments about starting from scratch, seems a big gamble when you don't know the local market.

I will take a bit of time to have a look around before commiting to buy.

What made you diversify into the business you have rather than construction if you don't mind me asking?

We are thinking of heading to the Mooloolaba/Pelican/Kawana region, where would you recommend for a family containing two boys aged 12 & 7?

We visited last year for a month and loved the area.

Hopefully be joining you on the sunshine coast July 11 so any more advise would be appreciated

 

Thanks Paul

 

Regards

 

Jon

 

Before you know it Jon, you will have been here for 12 months just settling in. We were also organising the building of our house too. So when you buy a business you have to run it for 2 years and get the turnover in the second year. If you dont get it in the 2nd year then you only have 12 months to do it or its bye bye australia, hello blighty!!!

I would have liked to have gone straight into building houses but with the regulations in Qld, you need a license for everything. It was going to take me 6-12 months to get a builders license and setting up a network of contacts takes years. So looking around there was not much that interested me, everything was either food related or a franchise (no disrespect nicki, but i'm a hairy arsed builder...lol) So when this business came up it looked quite interesting, spent a couple of weeks there and decided to buy it. Simple!

Pelican Waters is probably the nicest area out of the 3, my business is just round the corner and we do a lot of work on Pelican. Depends what you are after. My 12 year old boy just wants to play sport and go to the skate park with his mates, dont know about yours. Also Pelican is next to Caloundra with its cafes and bars and the RSL is excellent. It is a 5 minute drive to Golden Beach or the beaches around Caloundra, Moffat, Kings, Shelley, etc

 

Paul

[163ALLOUT]

Hi Paul

 

I think I will probably take a leaf out of your book and buy something established, it makes a lot of sense rather than struggling your balls off starting from scratch.

We're aiming to come out in July 11. It would be great to meet up when we arrive and I can pick your brains over a beer or BBQ.

 

Thanks for the advise

 

Regards

 

Jon

[paulhug]

Hi Paul

 

I think I will probably take a leaf out of your book and buy something established, it makes a lot of sense rather than struggling your balls off starting from scratch.

We're aiming to come out in July 11. It would be great to meet up when we arrive and I can pick your brains over a beer or BBQ.

 

Thanks for the advise

 

Regards

 

Jon

 

No problem Jon just keep in touch , i hope everthing goes well.......hey you might wanna buy my business by then...lol. we should have got the turnover we need and i'll be selling up i reckon once we have the Permanent Visa.

 

I went to a seminar on Thursday for migrants settling in Qld. It was mainly aimed at new immigrants but i wanted to clarify the conditions for getting the Permanent visa. I didnt realise that if you are on a State sponsored 163 business owner visa, that the turnover required is the same for everyone. So you need to turnover $200,000.00 ($220.000.00 inc GST (vat)) in the 12 months before you apply for permanent visa. $5500 a week in sales.

[Alan Collett]

Hi Paul and Jon (and others).

 

I think the 892 visa business turnover requirement is probably the main factor in deciding what type of business to acquire or set up.

 

Try to work out how many items of product you will have to achieve to meet this requirement, and how much time and effort you will need to put in to achieve it.

 

Also, if you are acquiring a business, make sure you do your due diligence into the turnover and profit figures presented by the vendor or the vendor's agent. Maybe have someone suitably qualified look into the transactions that make up the key numbers before you make any serious commitment to acquire.

 

Best regards.

[Alan Collett]

Before you know it Jon, you will have been here for 12 months just settling in. We were also organising the building of our house too. So when you buy a business you have to run it for 2 years and get the turnover in the second year. If you dont get it in the 2nd year then you only have 12 months to do it or its bye bye australia, hello blighty!!!

 

<snip>

 

 

Paul

 

Hi again Paul.

 

Your 163 visa is almost certainly valid for 4 years from the date of required initial entry => so long as you don't spend 2 years before acquiring an interest in your Aus business you may have 3 or 4 years to meet the financial requirements of the 892 permanent residency visa.

 

Remember also that you "only" have to lodge the 892 application before your 163 visa expires. The 892 is an onshore visa, so would provide a bridging visa if your 163 visa expires before the 892 is granted.

 

Best regards.

[paulhug]

Hi again Paul.

 

Your 163 visa is almost certainly valid for 4 years from the date of required initial entry => so long as you don't spend 2 years before acquiring an interest in your Aus business you may have 3 or 4 years to meet the financial requirements of the 892 permanent residency visa.

 

Remember also that you "only" have to lodge the 892 application before your 163 visa expires. The 892 is an onshore visa, so would provide a bridging visa if your 163 visa expires before the 892 is granted.

 

Best regards.

 

Hi Alan,

 

thanks for your input but don't forget, you need to run the business for 2 years minimum. So, if like i did, you buy a business after 12 months you have to get the required turnover ($200k excl gst) in the 2nd or 3rd year of running the business. So that would be your 3rd or 4th year of your provisional visa. It doesnt give you much leeway, you only have 2 bites at the cherry really.

 

Paul

[Alan Collett]

Agreed, Paul.

 

How did you identify the business that you are running now? Did you buy it through a broker or did someone else give you a lead?

 

We're looking at developing a network of preferred brokers for those who have to buy a business for the purpose of their visa strategy, so your experiences and comments would be helpful.

 

Best regards.

[paulhug]

Agreed, Paul.

 

How did you identify the business that you are running now? Did you buy it through a broker or did someone else give you a lead?

 

We're looking at developing a network of preferred brokers for those who have to buy a business for the purpose of their visa strategy, so your experiences and comments would be helpful.

 

Best regards.

 

Hi Alan,

 

i did buy through a broker but it was by accident, my wife was talking to his wife and he came up with this business i have now. But it took me 12 months of trawling the business brokers, websites and papers to find something that was the right money with the turnover in the region of what was needed.

I think people have got to do their due diligence and not jump into the first thing that "looks right" Get an accountant to go through the figures and query everything they are not sure about. Unfortunately i think a lot of agents just want to get the sale and are not interested in the buyer. Above all "don't rush" is the best advice i can give. If its meant to be, it will happen

[163ALLOUT]

Hi Paul

 

Had a peek at your website, you never know I might be interested, needs to be cheap though!!!:biggrin:

 

Regards

 

Jon

[paulhug]

Hi Paul

 

Had a peek at your website, you never know I might be interested, needs to be cheap though!!!:biggrin:

 

Regards

 

Jon

 

Hi Jon,

 

cheap......lol.......Yeah the website is quite good, i have just had it re-done, it was looking a bit dated. Now we get quite a few hits and enquiries from it. But if you did happen to be interested, it fulfils all the criteria and i would probably sell it for the amount i bought it for, plus the stock, i also have two utes, one with the work tools and materials in and one to drive around in. So it would be what they call "walk in walk out", you get the whole set-up.

You'd be surprised at what i bought it for, it was a steal. So it could be a bargain. I wanna get back on the golf course...lol. For 2 years you just seem to be in limbo not knowing if you're gonna get the Permanent Visa so once we get it...i'm outta here...lol.

[163ALLOUT]

Hi Paul

 

It does appeal to me to have a change of direction, being doing the same thing for 25 years and a change might be good, when we get out to Oz in July/August next year and if you haven't sold it by then we can have a chat about it. Like you I'll need to do something and the sooner you start the sooner you can apply for a permanent visa.

I'd like to come over sooner but I have my business to dispose of in the UK which given the economy means almost giving it away, not good here!

How have you found things for business over there, reading the news it looks pretty good but what's it like in reality?

How have you & your family settled in over there, no thoughts of returning to blighty then?

Trying to work out who your footy team is from your picture?

When we came over last year we went to watch the Brissie Lions, had great fun but they play in claret and blue which isn't good for Birmingham City fan!!!

 

Keep in touch mate

Regards

Jon

[163ALLOUT]

Just seen that you have a photo gallery,

Liverpool!!! Roy Hodgeson!!!

Oh well I can see why your glad to be over there now lol

[paulhug]

Hi Paul

 

It does appeal to me to have a change of direction, being doing the same thing for 25 years and a change might be good, when we get out to Oz in July/August next year and if you haven't sold it by then we can have a chat about it. Like you I'll need to do something and the sooner you start the sooner you can apply for a permanent visa.

I'd like to come over sooner but I have my business to dispose of in the UK which given the economy means almost giving it away, not good here!

How have you found things for business over there, reading the news it looks pretty good but what's it like in reality?

How have you & your family settled in over there, no thoughts of returning to blighty then?

Trying to work out who your footy team is from your picture?

When we came over last year we went to watch the Brissie Lions, had great fun but they play in claret and blue which isn't good for Birmingham City fan!!!

 

Keep in touch mate

Regards

Jon

 

Hi Jon,

 

we have settled really well, the first 6 months is a bit of a whirlwind, there is a lot to get sorted. And looking for a business as well, time just flew by. Then i found this business and bought it as we were moving into the house we had built, and my parents came to visit at the same time, it was mad.

In reality business is not as good as everyone is saying, there are a lot of small business' that are shutting down. 2 motor trimmers just closed on our industrial estate about a month ago. Established business' i think will be fine.That was the reason i bought my business, it had had a turnover the 2 previous years of about 400k, so i thought, even if the economy does downturn, we still have a good chance of hitting the turnover we need. But people seem to be hanging on to there dollars and not going mad. Saying that, xmas is coming so.....who knows.

Yeah, Liverpool is my team mate, thats the only thing i miss living here, going to the match.

I gave a mate my season ticket, so if we go back (which we have no intention of doing) i get it back. I get up at silly oclock every week to watch us on Austar, we get all league, cup and euro matches, so cant complain. AS for Hodgson, he was never a choice for me, still isnt, get Rijkaard in i say!!!!

I tried to support Brissy Roar, then North Qld Fury when Fowler signed, but its just not the same. I'll stick to LFC.

Great result for Birmingham against Chelski, never watched it tho' i was getting a couple of hours sleep before having to get up for our game at 3.30am

 

Paul

[163ALLOUT]

Hi Paul

 

Good 3-0 win for your boys, pleased with that result, not too fond of West Hams new owners!

I shall be doing some unsociable hours myself with the Ashes starting on Thursday, we have to beat them, something for the Poms to gloat about for a change, theres not much else to cheer about here. Snow is on the way, it's bloody freezing and everyones skint, oh happy days!! Can't wait for July now so we can escape. Exchange rate is dire though, you timed that one well!!

 

Regards

 

Jon

[paulhug]

Hi Paul

 

Good 3-0 win for your boys, pleased with that result, not too fond of West Hams new owners!

I shall be doing some unsociable hours myself with the Ashes starting on Thursday, we have to beat them, something for the Poms to gloat about for a change, theres not much else to cheer about here. Snow is on the way, it's bloody freezing and everyones skint, oh happy days!! Can't wait for July now so we can escape. Exchange rate is dire though, you timed that one well!!

 

Regards

 

Jon

 

It was a good result, but once again it was a 45 minute performance!!!.

We timed the move better than some people, i think we averaged about $2.20 for the quid. I coulda kicked myself one week tho', i needed to bring some more over to finish the house, the £ was falling so before it went under $2 i changed £150k. 2 weeks later it briefly went up to $2.70....woulda had another $85k!!!!

July will come around quick enough just make sure you don't leave anything to the last minute.

I got me and our Tommy tickets for the Ashes at the Gabba on thursday. $38 for the 2 of us and free train travel!!!!. We'll be sitting under the big screen, we'll give you a wave. Think i'll put either me england or liverpool shirt on.

 

Paul

[163ALLOUT]

Hi Paul

 

2.20 to the £!!! It's about 1.62 now, what a nightmare. Not sure when to change my money, do you hold off hoping it gets better or with all the crap happening in Europe it could get even worse. It's a serious loss on the old funds we are aiming to bring.

 

Your going to the Gabba, I'm soooooo jealous. Yes give me a wave, I'll be sitting at home in Blighty with the central heating blasting away. Oh well next time I'll be there as well.

The Aussies are running scared. I'll think we will win the series 2-1

 

Enjoy your day

 

Jon

[paulhug]

Hi Paul

 

2.20 to the £!!! It's about 1.62 now, what a nightmare. Not sure when to change my money, do you hold off hoping it gets better or with all the crap happening in Europe it could get even worse. It's a serious loss on the old funds we are aiming to bring.

 

Your going to the Gabba, I'm soooooo jealous. Yes give me a wave, I'll be sitting at home in Blighty with the central heating blasting away. Oh well next time I'll be there as well.

The Aussies are running scared. I'll think we will win the series 2-1

 

Enjoy your day

 

Jon

 

Decided to go on the train to the Gabba, its free travel, easier than tryin to drive thru' brissy.

The pound has had a bad day so lets hope ours is a better one.