Post
by attahaas » Thu Sep 11, 2014 5:20 am
Huehue, yes you can do that. As long as you invest the entire 200K in the 3 years, there is no restriction on how you break up the amount.
Another very important caution in your case. Since you are planning to buy another business, DON'T BUY the whole business per se! Instead buy that company's assets and inventory in the name of your own company. When you buy or takeover an existing business wholly, you also buy its liabilities and bad debts if any, which you don't want. So, be very careful with this.
Also, make sure you first transfer the amount into your business and then buy assets from that company thorough your business. And if the previous owner doesn't want to continue the business, ask him/her to dissolve the company. Later, you can employ their 2 employees into YOUR business. This way, you will qualify for creating 2 new full-time jobs, because there is a net increase in YOUR business. If you takeover/buy an existing business, you must employ 2 new persons because there should be a NET increase in employment, which might be very difficult for a pharmacy to do. It should look like you are setting up your own pharmacy, so you are creating 2 new jobs in YOUR pharmacy.
If you need to apply any licenses to run a pharmacy business, do so in then name of YOUR company. Make sure you are not associated with the other business on paper in any way!
Talk to an accountant and a lawyer (corporate law), they will give you professional advice regarding such transactions.
•12-Feb-2015: Applied online (Team), 200K, India
•13-Feb-2015: Submitted documents and biometrics
•25-Feb-2015: Received email saying that they need more time
•03-Mar-2015: Interviewed separately
•05-Mar-2105: Received docs and passport with visa stamped!