Dazza
16-02-2011, 06:26 PM
Hey guys,
just been pondering about business ideas and i thought i might go out and create my own fund?
This is pretty much how warren buffett started, he just got together a few people, started a PARTNERSHIP , took 25% of all profits.
What are the implications of doing this in nzl?
Eg ill put my own lets just say 50k in the partnership, ill take onboard $10k lots up to a maximum of $200k per say.
It is done as a partnership, with myself calling the shots, rules would be simple - cannot take money out etc etc.
I know if i create a 'fund' as such - there are legal implications and tax implications etc etc.
If i create a business as such that is done as a partnership, would this essentially side step all the legal implications of a 'fund' or mutual fund.
Thoughts apprecaited thanks
just been pondering about business ideas and i thought i might go out and create my own fund?
This is pretty much how warren buffett started, he just got together a few people, started a PARTNERSHIP , took 25% of all profits.
What are the implications of doing this in nzl?
Eg ill put my own lets just say 50k in the partnership, ill take onboard $10k lots up to a maximum of $200k per say.
It is done as a partnership, with myself calling the shots, rules would be simple - cannot take money out etc etc.
I know if i create a 'fund' as such - there are legal implications and tax implications etc etc.
If i create a business as such that is done as a partnership, would this essentially side step all the legal implications of a 'fund' or mutual fund.
Thoughts apprecaited thanks