New Zealand Welcomes Entrepreneurs Under Work Visa Category

New Zealand Welcomes Entrepreneurs Under Work Visa

Any experienced business person can now apply for a work visa under the Entrepreneur Work Visa category in New Zealand. The advantages of applying in this category are:

  • Entrepreneur Work Visa will enable one to move, buy or establish their own business in New Zealand for three years
  • The process to apply for residence becomes relatively smooth under the Entrepreneur Residence Category

How does this visa work?

This special category visa (entrepreneur work visa) works in two stages:

  • Start-up stage: Once the visa is approved, a business man will be awarded a 12 month work visa wherein he/she can buy or establish their business in the country.
  • Balance stage: For the remaining 24 months of visa tenure, the businessman will be granted visa, provided he/she furnishes information on the steps taken to establish the business in the country. These steps could be:

o   Transferring investment capital through banks

o   Documents showing setting up of business

o   Property or lease documents for the site

o   Invoices for equipments/supplies needed for the business

o   Employment agreements, bank statements, utility company invoices

Major requirements in order to get approval for an Entrepreneur Work Visa are:

o   A minimum capital investment of NZ$100,000(excluding working capital) has to be made

o   Exceed or meet 120 points for factors relating to the success of the proposed business in New Zealand

o   Have not been involved in bankruptcy or business failure within 5 years of applying for the visa

o   Have not been involved in any kind of fraud or financial irregularities

o   Meet health, language and social requirements for residence in the country.

Source: Immigration New Zealand

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