An amalgamation of an excellent working environment, comprehensive policy framework, high growth opportunities and diversified market place, New Zealand is among the most lucrative destinations for establishing a business or investing in an existing one. The Government of New Zealand has designed special business immigration visa categories that allow foreign entrepreneurs and investors to come to the nation and contribute significantly to the country’s economy.
There are mainly three types of visas that are offered by Immigration New Zealand under the business visa category. These are-
Entrepreneur Work Visa
Employees of Relocating Businesses
Entrepreneur Work Visa
Entrepreneur Work Visa is meant for those who wish to run their own business in New Zealand. Applicants of this category can also apply for an Entrepreneur Residence Visa once they have successfully run their businesses for a minimum of two years (or 6 months in case they meet the extra conditions). On the other hand, individuals already on a Long Term Business Visa (LTBV) can apply for permanent residency in New Zealand under the Entrepreneur Residence Category.
The basic requirements for this category are as follows-
A minimum capital investment of NZ$ 200,000 (apart from the working capital)
A Score of 120 points or more on the points scale, with points awarded for factors about the likely success of the venture and its contribution to the economy of New Zealand
A clear business plan with satisfactory evidence demonstrating sure-shot success of the business venture in New Zealand
Clean recent history of bankruptcy, fraud and business failure
Character certificate and medical reports
A certificate (no more than two years old at the time of filing the application) from IELTS showcasing an overall band score of a minimum of 4 in the IELTS Academic and General Module, or furnish evidence of an English speaking background.
How the Entrepreneur Visa Works
An Entrepreneur Work Visa is a three-year work visa that includes two stages
The start-up stage
Under the Entrepreneur Work Visa, you will be given a 12-month work visa initially. This would enable you to buy and/ or establish your business in New Zealand.
The balance stage
Once you show the business migration branch that you have taken the appropriate steps to establish a business in New Zealand, you will receive approval for the remaining 24 months of your Entrepreneur Work Visa.
Examples of steps that can be shown to the business migration branch for this purpose include:
Transferring a capital for investment through the banking system
Actions that you have taken to establish your business
Documents that show the set up of your business
Documents for property purchase or taking a lease of the business' site
Invoices for equipment and supplies for your business
Agreements of employment, bank statements, utility company invoices, etc.
As mentioned, the eligibility for an Entrepreneur Work Visa to New Zealand, you have to score a minimum of 120 points.
To get a basic idea of where you stand on the points scale, click here.