Need a help
Contact us by phone or submit your inquire online. We will response as soon as possible.
Request Callback
Entrepreneur Resident Visa
The entrepreneur visas enable you to work in your own business in New Zealand. In terms of what the visas allow, this could mean either buying into a company or setting up a new business. In both instances, you’ll be eligible for permanent residence. Let’s start by looking at how this works.
THE ENTREPRENEUR VISA’S PATHWAY TO RESIDENCY
The pathway to New Zealand residency is a two part process. First the temporary entrepreneur work visa and then the entrepreneur residency visa.
THE ENTREPRENEUR WORK VISA – STEP ONE
The entrepreneur work visa is a 3 year work visa that is split into two stages:
- The start up stage. This is an initial 1 year period during which you have to set up or buy into a New Zealand business.
- The balance stage. A further 2 year period is granted if you can prove you have established your business.
WHAT YOU NEED TO APPLY FOR AN ENTREPRENEUR WORK VISA
Capital
The establishment of a business requires capital, therefore a minimum of NZ$ 100,000 is needed for this visa application. The NZ$100,000 does not include working capital.
The only exceptions are the IT and science sectors which demonstrate a high level of innovation and export opportunities. Immigration New Zealand thus allow for waiver applications of the NZ$ 100,000 if your business is in either of these sectors.
Business Plan
Immigration New Zealand need to be satisfied that your proposed business:
- Adds value to New Zealand, and
- Can succeed.
Therefore you must submit a comprehensive business plan with an application for this entrepreneur visa.
Good business character
As the application is for an entrepreneur visa, it follows that Immigration New Zealand will review any circumstances of business failure, fraud and bankruptcy.
Points
You must score at least 120 points in a points based assessment.
Other requirements
You and any family members accompanying you will need to meet the health, character and English language requirements.
Family
Applications for the entrepreneur work visa can include your partner as well as dependent children aged 19 and younger.
THE ENTREPRENEUR RESIDENT VISA – STEP TWO
The entrepreneur resident visa is open to applicants who have:
- Completed 6 months self-employment in New Zealand; or
- Have operated a business for two years on another visa that allows self-employment.
WHAT YOU NEED TO APPLY FOR AN ENTREPRENEUR RESIDENT VISA
Capital
The capital invested must be at least equal to that stated in your business plan.
If you have not completed 2 years self employment in New Zealand you will need to have invested at least NZ$ 500,000. Additionally, you will need to have created 3 jobs in New Zealand.
A prerequisite is that you have not claimed any welfare or assistance from the state in this period of your existing visa.
Business Plan
You must be able to demonstrate that your submitted business plan has achieved the benefits it outlined.
Business Character
- You must have a 25% shareholding in a profitable business; and
- The business was set up or purchased by you; and
- That it has been running for 6 months plus.
Economic Contribution
You must be able to provide evidence of the fact your business is contributing to New Zealand’s economic growth. This evidence should be shown in the following ways:
- The introduction or enhancement of new technology, management or technical skills.
- Introduction or enhancement of new products or services.
- The creation or expansion of export markets.
- The creation of at least 1 full-time job for a New Zealander. If you you have been in business for less than 2 years this is increased to 3 jobs.
- Provision of new skills, networks, management capability and/or capital, and as a result increasing an existing business’ financial performance.
Other requirements
You and any family members accompanying you will need to meet the health, character and English language requirements.
Family
Applications for the entrepreneur work visas can include your partner as well as dependent children aged 24 and younger.