New Zealand Business Visa
An amalgamation of 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:-
- Investor Visa
- 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 under this category are as follows:-
- A minimum capital investment of 100000 NZD (apart from the working capital)
- Score 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. However, IELTS is not compulsory.
- Minimum 05 years as Senior Management experience or business owner from last 03 years.
How the Entrepreneur Visa Works
An Entrepreneur Work Visa is a three year work visa that includes two stages
- Start-up stage
- Balance stage
The start-up Stage:
Under an 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. Work Visa can be extended upto 3 years by satisfying visa officer.
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 setting up of your business
- documents for property purchase or taking a lease for 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, you can click here.
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