Mr's quick answer
When you move between Australia and New Zealand, your credit file, business registrations and tax history mostly stay in the old country, so a lender in your new country sees a short local track record. Owners rebuild quickly by setting up the right local entity and bank account, registering for tax, keeping clean records from day one and bringing documents with them. Property left in the old country is usually lent against on that side.
Key points
- Credit files are kept separately in each country, so your history doesn't automatically follow you.
- Business numbers don't transfer: an ABN or NZBN belongs to its own country.
- Your new country's lenders want local bank statements and tax records, so start building them on day one.
- Property left behind in the old country is usually lent against on that side.
- Bring documents: old financials, tax returns, loan statements and references.
- Credit history
- Stays in its own country
- Business numbers
- ABN (AU) / NZBN (NZ) — not transferable
- Build first
- Local bank account, tax registration, records
- Property left behind
- Usually lent against in its own country
People cross the Tasman all the time: for family, for lifestyle, for a partner, for a job, or just because the surf looked better. Business owners are no different. The move itself is the fun part. The tricky part comes a few months later, when you approach a lender in your new country and discover that, on paper, you’ve only just arrived. Mr’s guide to getting funding-ready again.
What stays behind when you move?
More than most owners expect.
| Thing | Does it move with you? |
|---|---|
| Your credit file | No. Each country’s bureaus keep their own records |
| ABN or NZBN | No. Each number belongs to its own country |
| Company registration | No. A company is registered in one country (it can register in the other as an overseas or foreign company) |
| Tax history | No. The ATO and IRD keep separate records |
| Bank statements | Your old accounts stay in the old country |
| Property | Stays where it is, and usually supports borrowing in that country |
| Your skills and experience | Yes, and lenders do care about them |
Australia’s main bureaus are Equifax and Experian; New Zealand’s are Centrix, Equifax and Experian. Even where a bureau name is shared, the files are built under each country’s laws from local creditors. Our credit reports side by side has the detail.
How do you rebuild a track record fast?
Lenders in your new country want to see local evidence. Start building it on day one:
- Pick and set up your local entity. Sole trader, company or partnership. If it’s a company, sort out directors and registrations properly from the start.
- Open a local business bank account and run every dollar of the business through it. This becomes your most important document.
- Register for tax. ABN and possibly GST in Australia; IRD number, NZBN and possibly GST in New Zealand.
- Lodge everything on time. Your first BAS or GST return is the first page of your new tax history.
- Keep your old-country documents. Previous financials, tax returns, loan statements and a reference from your old accountant all help tell the story.
- Use credit lightly but well. A business card or small facility paid perfectly builds local history.
Most lenders want a period of local bank statements before offering unsecured funding (usually between $5,000 and $500,000). Start the clock early.
Just arrived and need funding to get going? It can be possible, especially with property security. An enquiry won’t put a mark on your credit file. Pick your country and start your enquiry.
What about property you left behind?
If you still own property in your old country, it can be a powerful funding tool. Property-secured lending, between $20,000 and $5,000,000, is usually arranged in the country where the property sits, because that’s where the mortgage or caveat is registered. So:
- Moved to New Zealand, still own a home in Australia? A property-secured business loan would usually start on the Australian side, even if the business is now in New Zealand.
- Moved to Australia, still own a home in New Zealand? Usually the New Zealand side.
Be upfront that the business is now in the other country. Lenders handle these situations regularly; what they need is the full picture. Our where to apply page covers more combinations.
What about tax when you move?
Moving can change your tax residency, and with it which country taxes your income. The two countries have a double tax agreement, signed in 2009 and in force since 19 March 2010, which helps stop the same income being taxed twice. But residency rules are detailed and personal. Get advice from someone who works in both systems, ideally before the move. Our trans-Tasman tax basics page explains the questions to ask.
Can you keep your old business running?
Plenty of owners do, at least for a while. A few things to think about:
- Directors: an Australian proprietary company must keep at least one Australian-resident director. A New Zealand company needs a director who lives in New Zealand, or in Australia while directing an Australian company.
- Management: where key decisions are made can matter for tax.
- Banking: keep the old business’s accounts clean and separate from your new life.
- Funding: the old business borrows in its own country, on its own records.
What should you pack (on paper)?
Before you leave, gather: two or three years of business tax returns and financial statements, recent statements for every loan and card, a credit report from your current country, a letter from your accountant summarising your business history, and copies of any property titles you’re keeping. Scanned and filed, they make your first conversation with a lender in your new country far easier.
Illustrative example
Illustrative only. A Perth physiotherapist moves to Christchurch and opens a clinic through a new New Zealand company. Her Australian credit file is spotless but invisible to New Zealand bureaus. She opens a New Zealand business account immediately, registers for GST and keeps her Australian tax returns and loan statements on file. For the fit-out, she looks at property-secured funding on the Australian side against her Perth apartment. A year later, with Kiwi bank statements and GST returns, her clinic looks at a local equipment facility.
Ready to start again, properly?
A move resets your paperwork, not your ability to run a good business. When you’re ready to talk funding, in your new country or your old one, the first step is low-pressure: no credit check for an enquiry, no sharing your details around the market, and a real person who reads the whole story. Tell them on the form when you moved and where your property and records are, and the match will be right. Pick your country to start.
Frequently asked questions
Will my Australian credit history help me borrow in New Zealand?
Not automatically. New Zealand lenders check New Zealand bureaus (Centrix, Equifax and Experian), which won't usually hold your Australian history. You can still help yourself by providing statements from Australian loans and cards and explaining your track record.
Can I keep running my Australian business after moving to New Zealand?
Many owners do, but it changes things: where the business is managed, which tax rules apply to you personally, and possibly the company's director arrangements. Get advice in both countries before or soon after the move, because residency and tax questions can be complex.
How long before I can borrow in my new country?
It depends on the lender and the loan. Unsecured funding usually needs a period of local bank statements and trading history. Property-secured funding can be possible sooner if you own property in the new country, because the security does more of the work.
Should I sell my property in the old country?
That's a personal and tax decision. For funding purposes, keep in mind that property in your old country can still support borrowing there, often through that country's lenders. It can be a useful option while your new-country track record builds.