# Sole trader / Self employment



## Sjon

I just received my partnership based work visa. Since I'm thinking about setting up my own business as a Translator, but also as a Esoteric Healer and Massage Therapist, I've checked with Immigration New Zealand if this is allowed, and it is.  

I was just wondering if any of you has any experience in setting up a business as a Sole Trader? I already know that I can get started on my personal IRD number, but how do I get started? Do I need to register myself with the IRD and write a business plan, think of a company name, open up a separate business bank account, etc?

Thanks so much in advance!

Cheers,

Sjon


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## topcat83

Sjon said:


> I just received my partnership based work visa. Since I'm thinking about setting up my own business as a Translator, but also as a Esoteric Healer and Massage Therapist, I've checked with Immigration New Zealand if this is allowed, and it is.
> 
> I was just wondering if any of you has any experience in setting up a business as a Sole Trader? I already know that I can get started on my personal IRD number, but how do I get started? Do I need to register myself with the IRD and write a business plan, think of a company name, open up a separate business bank account, etc?
> 
> Thanks so much in advance!
> 
> Cheers,
> 
> Sjon


I'd do everything you've said - but for yourself, and not because it's a requirement. It just makes it much more likely that you'll succeed.

I'd open a separate bank account - simply because you'll be able to keep the business finances completely separate from your personal ones.

Consider registering for GST too - you can do this as a private individual - you'll need to charge GST on anything invoiced, but can also claim back any GST you pay out. Useful on a business start-up particularly, when your initial outgoings might be high.


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## Sjon

Thanks Top Cat!!:clap2:


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