This Visa category is for the hands-on businessmen, who want to establish and run their own venture, or purchase an existing business in New Zealand!
An Entrepreneur Work Visa is a three-year visa that has two stages in the application process:
1. Initiation Stage:
In this stage, a full-fledged and detailed business plan document is submitted to Immigration New Zealand. Once approved, a 12-month work visa is granted, enabling you to buy or establish your business in New Zealand.
2. Second Stage:
In this stage, you are required to commence your business activity in accordance with your submitted proposal, or to garner proof in support of the sufficient ground-work you have completed. You have to show Immigration New Zealand that you have taken reasonable steps to establish and operate the planned business and the money required to establish the business has been transferred to NZ. Once the Business Migration branch is satisfied with your efforts, a further extension of 27 months is granted on your visa. This gives you the time to stay and run your business in New Zealand.
Further Information: Entrepreneur Residence Category
For those with a greater business savvy and those who are poised to take their business further through innovation and growth, NZ Immigration recognizes your outstanding contribution with an early gateway to a Permanent Residency.
Now, if you have invested less than NZ$500,000 (and obviously more than the threshold of NZ$100,000), you are qualified to apply for Permanent Residence after 2 years.
And, if you have invested an amount greater than NZ$500,000 and have an allowance for 3 full-time positions within your business, you are qualified to apply for Permanent Residence after just 6 months.
The Entrepreneur Category Visa Requirements Checklist
In order to be considered and apply successfully for an Entrepreneur Work Visa the following criteria are applicable:
- Financial capability to make a minimum capital investment of NZ$100,000.
- Meet or exceed 120 points on the Points-based system for capacity building factors such as age, investment into NZ, previous business experience etc.
- Develop and hold a business plan specific to your proposed business.
- No involvement in bankruptcy or business failure within the last 5 years preceding the date of application.
- No involvement in business fraud or financial impropriety.
- Meet the outlined health and character requirements for residence.
- Meet the English language skills requirements.
Although the above are high-level requirements, there may be exceptions applicable to your specific situation. We at Innovius are experts at providing fast, accurate and professional consulting services.
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