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