As an Entrepreneur, you must be wondering if New Zealand is an ideal place to launch a new venture. Well, New Zealand is a great place for start-ups. It offers a very favourable atmosphere to help you bring your ideas to life. The country has all the essential elements needed to deliver the value of new enterprises to the marketplace and society such as personal freedom, and free and open markets.
Immigration New Zealand (INZ) offers you the choice of both Entrepreneur Work and Resident Visas.
Entrepreneur Work Visa
If you want to test the waters before moving to New Zealand permanently, an Entrepreneur Work Visa is a great way for you to check out the entrepreneurial scene in the country.
You can start a new business or buy an existing one once your New Zealand Entrepreneur Work Visa is approved. Based on specific conditions, you may even apply for residence under the Entrepreneur Residence Category after 6 months or 2 years.
How do you qualify for Entrepreneur Work Visa?
INZ has placed the following requirements for a New Zealand Entrepreneur Work Visa; you must:
- Provide a detailed business plan
- Invest NZ$ 100,000 or more in your business – note that this requirement can be relaxed for businesses with exceptional potential for growth or innovation. The waiver also applies to businesses catering to fields associated with science or ICT (Information and Communications Technology).
- Score more than 120 points in INZ's points system
- Not be associated with a failed business or bankruptcies in the past 5 years
- Not be involved in any kind of financial/business misconduct or fraud
How long can you stay in New Zealand on Entrepreneur Work Visa?
The Entrepreneur Work Visa allows you to:
- Live in New Zealand for 12 months during your business's start-up phase – in some cases, you can be granted an extension to work on this stage.
- Live in New Zealand for an additional 24 months once you prove that your business has been well set up.
What can you do with Entrepreneur Work Visa?
With an Entrepreneur Work Visa, you can:
- Start your own business or buy one
- Work in your business for 3 years
- Include your partner and children aged less than 19 years in your visa application
- Study for 3 months within 12 months
- Travel to and from New Zealand multiple times
What are the conditions of Entrepreneur Work Visa?
INZ places the following conditions on Entrepreneur Work Visa; you cannot:
- Work for any other employer. You have to be self-employed in your business and location, as mentioned in your work visa. Self-employed means you have to manage the operations of your business legally and actively.
- Avail or seek any kind of welfare assistance during the time you spend in New Zealand. The same applies to anyone whose visas are dependent on your Entrepreneur Work Visa.
If INZ feels you are not fulfilling the initial or post-start-up terms of your Entrepreneur Work Visa, they may cancel your application. You do not want to waste this opportunity and end up losing your investment. Have our Auckland based team of immigration experts by your side on your Entrepreneur Work Visa journey. Start by booking a consultation now.
Entrepreneur Resident Visa
There are two ways to qualify for the Entrepreneur Resident Visa:
- Stay self-employed for 2 years while operating your business: An additional requirement is that New Zealand should have gained from your business substantially.
- Fast track: You can avail a speedier path to become eligible for the Entrepreneur Resident Visa. You will have to be self-employed with your business for 6 months and must have employed at least 3 New Zealand citizens or residents. Additionally, your minimum investment in the business must be NZ$ 500,000.
The Entrepreneur Resident visa allows you to:
- Live, work and study in New Zealand for any amount of time
- Include your partner and dependent children aged less than 24 years in your residency application
- Operate your New Zealand business
What are the conditions of Entrepreneur Resident Visa?
Besides the English skills, good health and character, and other usual requirements placed by the INZ, there are some additional conditions to be aware of for your Entrepreneur Resident Visa when your business is less than 2 years old. You must:
- Continue to work in your business for the next 2 years
- Keep your funds vested in your business for 2 more years
- Employ New Zealand citizens or residents in your business for at least 2 additional years
With all these conditions and more, it is easy to make mistakes and get in trouble with your Entrepreneur Resident Visa. Professional Visa Solutions has experienced immigration consultants who have a deep understanding of the Entrepreneur Resident Visa application process. Book a consultation time slot for the best advice.
What cost and time is involved in getting a New Zealand Entrepreneur Visa?
Immigration New Zealand typically processes Work and Resident Entrepreneur Visas in 16 months. However, complicating factors like Character Issues, Medical Issues or Special Directions may need more time.
We are a team of licensed immigration experts dedicated to helping our clients with their New Zealand visas at the fastest pace and best prices.
You can count on our expertise and detailed study of your case to succeed with your New Zealand Entrepreneur Visa application. Book a consultation now.