anchen Posted March 13, 2007 Report Share Posted March 13, 2007 Hi does anyone know what the rules are regarding the buying of a franchise while you are a secondary sponsor on a 457? My sister in law is here on a 457 and her husband is currently looking to buy a franchise but he is not sure if he is allowed to. Quote Link to comment Share on other sites More sharing options...
Cindylou Posted March 14, 2007 Report Share Posted March 14, 2007 HiI don't have an answer for you (sorry) but, as I'm self employed, my advice would be to get a lawyer! Anyone looking to buy into a business would be foolhardy to do so without some solid legal advice and a lawyer should also be able to assist with this question.CheersCindylou Quote Link to comment Share on other sites More sharing options...
alanb Posted March 15, 2007 Report Share Posted March 15, 2007 A good place to start is the Foreign Investment Review Board as they handle "foreign investment" approvals. Being on a 457 visa you are a "foreigner" when it comes to buying certain assets in Australia, including purchasing a home to live in. How this affects your situation with a small business I dont know, but they will answer questions you email them.I would appreciate it if you would post your findings here so we can all learn something.Alan Quote Link to comment Share on other sites More sharing options...
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