When it comes to selecting a country with the excellent working environment, high growth opportunities, comprehensive policy framework, and the diversified market place, New Zealand is one of the few countries that come to mind. This country is one of the emerging economies in today’s world so it could be one of the best destinations to invest in a business or to establish your own business. For this very purpose, Government of New Zealand offer a visa category for special business immigration to the foreign entrepreneurs and businessmen to come to New Zealand and contribute the growing economy of this country.
There basically are three types of Visa under the business visa category that are offered by the Immigration New Zealand, which are:
- Entrepreneur Work Visa
- Investor Visa
- Employees of Relocating Businesses
Entrepreneur Work Visa
This business visa is specifically for the applicants who are interested in running their own business in New Zealand. You can also apply for the Entrepreneur residence visa if you are able to run your business successfully for the period of two years, which could reduce to 6 months if you are able to meet some extra conditions.
The individuals who already got a long term business visa (LTBV) are eligible to apply for the permanent residency in the country under this category. There are some basic requirements which need to be fulfilled in this category such as:
- Apart from working capital, a minimum capital investment of 100,000 NZD.
- 120 points or more on the points scale, where points are awarded for various factors such as the chances of success and the contribution towards the economy of the country.
- A promising and clear business plan with enough evidence to demonstrate the success of a business venture in the country.
- Clean history; No bankruptcy, business failure or fraud in the previous record.
- Medical reports and Character certificates of the applicant.
- A certificate for English language proficiency such as IELTS (no more than two years old), or furnish evidence of English speaking background.
- Business owner for last 3 years or senior management experience of minimum 5 years.
How the Entrepreneur visa works
The entrepreneur visa in business visa category is 3 year work visa that comprises of two stages which are:
- Start-up Stage
- Balance Stage
1) The Startup Stage
Initially, for the entrepreneur work visa, you will be given a 12 month work visa to enable yourself to start, buy or establish your business in the country. The duration can be extended to three years if you satisfy the visa officer.
2) The Balance Stage
After you are able to successfully establish or start a business and satisfy the business migration branch by showing them all the appropriate measures and steps you have taken for the business then you will be able to receive the approval for the next 24 months of your entrepreneur work visa to complete the duration of this category.
Have a look at some of the examples of steps that you can take and show to the business migration branch for this purpose:
- A transfer receipt of the investment capital through banking system.
- The steps and measures you have taken to establish your business.
- The documentation of setting up your business in the country.
- Documents of taking a property on lease or purchasing a property for business’ site.
- Invoices and receipts for the supplies or equipment for your business.
- Bank Statements, utility company invoices, agreement of employment.
In order to be eligible for an entrepreneur business visa in New Zealand, you need to score more than 120 points on the points scale.
Business Immigration Program
The positive business climate with many compelling and distinct advantages are offered by New Zealand to those Multi-national or global firms who are in search for the business locations to expand their business in the country. To facilitate such organizations and firms, New Zealand has created a compelling and attractive business investment climate which is supported by a strong and fair legal system, low tax regime, and free trades with countries such as Australia. In New Zealand, there are three categories to start and establish a business in the country which are Investors, Entrepreneurs and Employee of relocating business.
Immigration Programs
The applicants who apply for the business immigration program are granted long term permit or visa for business which can be converted to permanent residency after meeting all the requirements of the business evaluation criteria. For long term business visa and permit for New Zealand, the applicant must prove that he is proficient in English language otherwise it is mandatory for the applicant to pass the IELTS examination and obtain at least 5 bands for further process.
Employees of Relocating Business
Long Term Business Visa
- IELTS examination is required for the English language proficiency and the applicant should obtain 5 bands to proceed further with the application.
- The applicant must have owned a business or managed a business in home country for at least last 3 years.
- A promising and realistic business plan to demonstrate and establish a successful business in New Zealand and the relevant experience and evidence for the success of your business are also required.
- In the start, the visa is granted for 9 months to start and take necessary steps such as the transfer of mentioned capital investment in the project report and satisfying the New Zealand immigration department by showing some progress.
- The applicant cannot change the plan submitted for long term business visa and permit without the approval of the immigration department.
- Once the funds for capital investment are transferred and steps are taken for establishing the business, the extension of the visa for two more years is granted to successfully establish the business in the country. The duration can be extended further for three years after the first term of three years.
- The applicant can apply for the permanent residency after the completion of two years.
Investor Visa
The investor visa is granted to the applicants who are willing and interested to invest a minimum capital of NZ$ 1 Million in the business in New Zealand but they are not interested to run and establish their own business in the country. This category also operated on the points system where points are awarded for different factors such as business experience, age, and investment funds. The passing marks are 120 points for this category.
If the applicant has established, purchased or made a substantial investment and own at least 25% of that business and is lawfully active in managing and operating the business for at least two years, he/she is successfully considered to have established a successful business in New Zealand.