What are the Key Benefits for applicants under the Entrepreneur Policies?
If you want to run your own business in New Zealand you will have to apply for a business visa, an Entrepreneur Visa.
There are a number of advantages for applicants who choose to apply for an Entrepreneur Work Visa in comparison to other visa types:
- You can either buy an existing business or set one up from scratch
- You can choose a business that matches your entrepreneurial background
- Your business can be located anywhere in New Zealand
- You will not have to find a job and overcome the Catch22 hurdle
- Relatively low minimum investment of NZ$100.00 required
- Minimum investment can be waived
- Your partner will obtain an open Work Visa that entitles him/her to work for any business in New Zealand
- Your partner can also be self-employed
- Primary and secondary school children will be classified as domestic students, so that high international student fees can be avoided
- No age limit
- Relatively low English language requirements.
The process: Your way to the residence in New Zealand will be in two steps, from a three-year work visa to your residence visa.
Step One: The Entrepreneur Work Visa
To apply for an Entrepreneur Work Visa you will have to
- establish a business or buy a business that suits your expectations and experience
- write a business plan which will satisfy Immigration New Zealand
- prepare and lodge your Entrepreneur Work Visa application according to New Zealand immigration law requirements.
Step Two: The Entrepreneur Residence Visa
After you have run your business successfully for at least two years, you can apply for an Entrepreneur Residence Visa.
There is a fast track option: You can apply after six months, provided you have invested at least NZ $ 500,000 in your business and created at least three full-time jobs for New Zealanders (investment and employment must be maintained for two years).
In short, these are the key requirements for step one, the Entrepreneur Work Visa:
- A minimum capital investment of NZ$100,000 (unless this requirement is waived)
- You must meet a minimum of 120 points for factors relating to the likely success of your proposed business and its value to New Zealand
- You must have a business plan specific to your proposed business
- You must not have been involved in bankruptcy or business failure, business fraud or financial impropriety
- You must meet health, character and English language requirements.