Day: July 26, 2022

Education
Entrepreneur Work Visa New Zealand

This visa is for people who want to work in their own business in New Zealand. To apply, you’ll need to provide a detailed business plan, have at least NZ $100,000 to invest in your business and be able to claim 120 points on new zealand points scale. If you’re granted this visa, you can buy or set up a business without living here permanently, or as a first step towards New Zealand residence.

With this visa you can

  • Come to New Zealand to buy or set up your own business.
  • Work in your own business in New Zealand for up to 3 years in total.
  • Include your partner, and dependent children aged 19 and under, in your visa application.

Things to note

  • You can stay 12 months in the start-up stage of your visa, then another 24 months once you’ve shown us that you’ve set-up your business
  • If your business is in the science or ICT sectors, shows a high level of innovation or export potential, we may consider waiving the NZD $100,000 capital investment requirement.
  • We won’t be able to grant you an Entrepreneur Work Visa if you’ve been made bankrupt or been involved in a business failure in the last 5 years.
  • If you’ve been involved in any kind of business fraud or financial wrongdoing, we won’t be able to grant you a visa.

Investment capital

Applicants must have a minimum of NZ $100,000 available to invest in their business. These funds must be solely owned by the applicant and/or their partner or spouse. Applicants cannot use borrowed or loaned funds to meet this requirement.

The investment capital requirement can be waived at the discretion of New Zealand’s Bushiness Migration Branch. Only business in computing, science, and some high-value export industries can be considered for a waiver.

Business plan

Applicants must provide a relevant and up to date business plan, which must be specifically tailored to the business they want to establish or buy. The business plan must demonstrate that:

  • They have the required investment capital and maintenance funds for the applicant and any family members joining them in New Zealand
  • The applicant has sufficient and appropriate business experience
  • Sufficient market and business research has been done
  • The plan’s financial forecasts are realistic
  • The applicant has any relevant professional registration required for their business in New Zealand
  • The applicant has not been declared bankrupt, or been involved in a business failure such as insolvency, in the last 5 years
  • The applicant has no record of business-related fraud or impropriety
  • The business is likely to be a high growth enterprise that will benefit New Zealand by providing jobs, growth, and/or export opportunities

Additionally, business plans relating to the purchase of an existing business must:

  • Include the purchase price of the existing business, and evidence of the business’s past performance and financial potential, such as financial records or an independent financial evaluation
  • Information the business’s current employees, such as employment agreements, and wage and tax records

Start-Up and Balance stages

The Entrepreneur Work visa is initially issued for a Start-Up stage of 12 months, which allows applicants to buy or establish their business. Once applicants have taken the necessary steps towards buying or establishing their business they can move on to the Balance stage of their visa, which grants another 24 months – adding up to a total of 3 years.

In order to move from the Start-Up stage to the Balance stage applicants must demonstrate that they have taken the necessary steps towards buying or establishing their business, such as:

  • Transferring their business-related capital to New Zealand
  • Providing documents relating to the business’s establishment, purchase, and running, such as:
    • A certificate of Incorporation
    • Purchase or rental documents for the business site
    • Invoices for business materials and equipment
    • Employment agreements and pay slips

Residence

After a set period Entrepreneur Work visa holders can apply for permanent residence under the Entrepreneur Residence scheme. This option becomes available after either 6 months or 2 years:

  • 2 years: Applicants who have successfully established or purchased their business in New Zealand and have been employed by the business for a minimum of 2 years may then apply residence.
  • 6 months: Applicants who invest at least NZ $500,000 in their business and employ a minimum of 3 native New Zealanders on a full time basis can apply for residence after just 6 months.

 

 

 

 

Emigrantz Global Consultancy registered and partnered with ICCRC (ICCRC – R407847) has more than a decade’s experience in the immigration industry. We have been fulfilling the needs of Permanent residency, student visa, business visa and work permit aspirants for Canada along with other countries.

We are just a call / email away to help you in making your dreams come true.

Contact us on: +966-547598555 / 966-569521000 / 966-541219841

Email : info@emigrantz.com / contact@emigrantz.com

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