Home – New Forums New here? Share your story Advice for Forming a new Partnership and Possible Visa Issues

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  • #997387
    soap17
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    Hi Everybody,

    I’m a British citizen in Australia on a 417 working holiday visa. Two friends who are both Australian citizens are planning to buy a small restaurant . They’ve invited me to join the venture, provide some of the funding and take a share of the profits. They’re capable of funding the purchase on the own and have asked me in due to my skills as a chef and experience working together in the past.

    Our intention is to form a partnership between the three of us to pool our money and buy the business. My problem is whether I am legally allowed to enter into this sort of agreement and whether my visa status would have a negative impact on licence applications, lease agreements etc.

    I’m aware that my current visa is unsuitable to own an operate a business and I intend to start the application process for a more permanent working visa. Also would it be possible for the newly formed company will fund and sponsor the application?

    #1211819
    Paul – FS Concierge
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    Hi and welcome to Flying Solo [USER=101364]@soap17[/USER] – it is great to have you.

    Failing an answer from an expert here, you may have to seek the advice of an immigration agent or contact the Immigration Dept directly.

    I hope you get the answers you are looking for.

    Cheers

    #1211820
    Ross Forrester
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    As a partner in a partnership you will own and operate a business.

    You should get clear advice as to the limitations of your visa. You could have a partnership of companies and you could consider blind trusts where the ownership is held by a resident on trust for you. The advice will have to consider your risk level and trust in your joint venture partners.

    If this is not a significant deal I suggest a simple life and wait until the visa restrictions are lifted.

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