The New Zealand Entrepreneur Visa allows an experienced businessperson to move to New Zealand and be a self-employed in his or her own business. The New Zealand Entrepreneur visa is best suited for those migrants who wish to buy or establish a business in New Zealand. In many a case, people start with an Entrepreneur Work visa and on completion of six months or two years, they apply for the Entrepreneur Residence visa.
The New Zealand Entrepreneur visa primarily offers you two types of visas such as:
- Entrepreneur Work visa
- Entrepreneur Residence visa
Basic Eligibility Criteria for New Zealand Entrepreneur Visa
For any of the above-mentioned types of New Zealand Entrepreneur visa, you have to meet the following requirements.
Identity: The New Zealand Entrepreneur visa asks for a proof of identity like two acceptable photographs and an original passport. You can submit a certified copy of the passport or a certificate of identity, which is a certificate provided by the government of any nation, allowing you to travel. It must however be used only for travel purposes and it confirms your identity but not your nationality.
Where you submit a certified copy of the passport, you may be asked to submit the original passport by the immigration authority to complete the process.
Health: The New Zealand Entrepreneur visa requires you to be in good health to come to New Zealand to grand a medical waiver. The immigration authorities will consider you if you have a satisfactory standard of health and you:
- Will not cause any danger to the residents’ health in New Zealand.
- Will not cost much money to the New Zealand health or special education services offered by the government.
- You are able to work or study for which the visa is granted to you.
To prove that you are in good health, the New Zealand Entrepreneur visa requires you to comply with the health requirements by having a chest x-ray and medical examination.
Character: For the issue of the New Zealand Entrepreneur visa, you need to be of good character. Where you are 17 or over you need to submit a police certificate from:
- Your native country
- Any other country where you have stayed 12 months or more in the last 10 years, though you stayed at different visits and all put together make 12 months.
You may have to provide a police certificate or similar as a proof of good character, based on the type of the visa you apply for. You must have the police certificates less than six months old sent along with the application. In case your initial police certificate becomes a year old from its date of issue and before a decision on your application is made, you may be asked to submit further police certificates.
Your character is considered to be good if you do not have any serious character issues such as:
- You are found guilty of an offence and condemned to an imprisonment for a term of 5 years or more.
- You are found guilty of an offence in the last 10 years and condemned to an imprisonment for a term of 12 months or longer.
- You are forbidden from entering New Zealand.
- You have ever been deported, removed or barred from any country.
The police certificates submitted in proof of the character must be in English; if not, an English translation must be attached to it which must include the record of non-conviction.
Fit and Proper Person: The New Zealand Entrepreneur visa requires you to ratify in the application form that you satisfy the requirements of fit and proper person. For you to fulfill the fit and proper person eligibility the businesses you have influence over must have conformed to all laws related to immigration, employment and taxation. Moreover, you must:
- Not have ever been investigated by the Serious Fraud Office or New Zealand police for any crime resulting from business dealings
- Not have been convicted for a crime involving dishonesty
- Not have ever been involved in business deception or financial impropriety.
English Language Skills: You must prove that you can speak English by submitting:
- An acceptable English language test report
- A proof that you have an English-speaking background
- A proof that you are a competent user of English for other reasons.
Standard English language test results required are:
- International English Language Testing System (IELTS) – General or Academic Module with an overall score of 4.0 or more
- Test of English as a Foreign Language Internet-based Test (TOEFL iBT) with an overall score of 31 or more
- Pearson Test of English Academic (PTE Academic) an overall score of 29 or more
- Cambridge English: First (FCE) or Cambridge English: First (FCE) for Schools with an overall score of 142 or more
- Occupational English Test (OET) Grade D or higher in all four skills such as Listening, Reading, Writing and Speaking. A score of Grade D or higher in all four skills is required.
The English language test marks you obtained must be less than 2 years old.
Bring Family: The New Zealand Entrepreneur visa entitles you to bring your family and for the purpose, both your partner and dependent children must satisfy the visa requirements. As for the evidence, you have to submit:
- A marriage certificate and birth certificates showing the relationship
- Documents that satisfy the health, character, identity and English language requirements of the partner and dependent children
Get to Know the Types of New Zealand Entrepreneur Visa
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Entrepreneur Work Visa
The Entrepreneur Work Visa allows you to work in your own business in New Zealand. You need to submit a detailed business plan, invest a minimum of NZ $100,000 in your business and be capable of claiming 120 points on the immigration point scale to apply for the visa. With the Entrepreneur Work Visa, you can either purchase or set up a business without residing here permanently, or you can consider this visa as a first step towards New Zealand Residence Visa. This category of the New Zealand Entrepreneur Visa permits you to stay in New Zealand up to 12 months in the beginning stage of your visa and further 24 months if you prove that you have set up your business in the country.
Where your business shows great export potential or high level of innovation being in ICT or science sectors, you stand to benefit by having a waiving of the capital investment of NZ $100,000 requirement. In case your business failed or you became bankrupt in the last 5 years, then you are not eligible for the Entrepreneur Work visa You are not eligible for this New Zealand Entrepreneur Visa if you are involved in any kind of business fraud or financial wrongdoing.
Benefits of Entrepreneur Work Visa
With this visa you can:
- Visit New Zealand to buy or set up your own business
- Become eligible to work in your own business in New Zealand for 3 years in total.
- Include your partner and dependent children who are aged 19 and under
Additional Eligibility Requirements for Entrepreneur Work Visa
Apart from the basic requirements, the following are the additional requirements for the Entrepreneur Work visa and they are:
Minimum Capital Investment: You need to show the immigration authorities that you are able to make a capital investment minimum of NZ $100,000. You need to submit the following evidence to prove it:
- The assets and/or funds as capital investment that is outlined in the business plan
- You possess sufficient money to support your family (accompanying you) and yourself, other than the money you need as the capital investment
- You have to submit enough proof that the funds and/or assets you will use for your capital investment are:
- Owned by you or your partner
- Acquired or earned lawfully
The evidence for the funds and/or assets owned by you to invest may include:
- Bank statements
- Title deeds
- Property valuations
- Share certificates
- Business ownership documents
- Asset valuations.
Where you acquired the assets or earned funds lawfully, the proof of evidence may include:
- Tax returns or certificates
- Pay slips
- Business financial statements
- Business shareholdings
- Dividends
- Receipts for property sales
- Bank certificates
- Share trading profits
- Evidence of gifted money
- Probate and other evidence of inherited money
Request for a Minimum Capital Waiver: The immigration authorities may waive the minimum capital investment condition if your business is in science, ICT, or any other high-value export sector and it shows high level of innovation or high growth prospects in the short term. For the purpose:
- You cannot borrow or loan funds and/or assets
- The gifted funds are acceptable if they are gifted unconditionally and earned or attained lawfully
To consider your business as a high-value export business, it must necessarily be aimed to:
- Create 5 or more jobs for New Zealanders
- Generate turnover of NZ $500,000 in annual exports
You need to provide the following evidence to have your business considered as a high level of innovation.
- New methods to produce more goods or services without any extra production cost
- The business will be successful because of the innovation.
Entrepreneur Points: This New Zealand Entrepreneur Visa requires you to attain a minimum of 120 points on the points scale. The following are some of the eligibilities considered for points:
- Age
- Capital investment
- Business experience
- Benefits your business brings to New Zealand
- Location of your business
Business Plan: The New Zealand Entrepreneur work visa requires you to provide a complete and detailed business plan of the business you propose to start and run in New Zealand. However, your business plan should be just or less than three months old.
Occupational Registration: This category of the New Zealand Entrepreneur Visa requires you to have occupational registration for some occupations. As evidence, you have to provide a certified copy of the registration.
Business Start-up: Where you are issued an Entrepreneur Work visa, you have to start up the business within the first 12 months of the grant of the visa. In the end of the start-up stage of twelve months you must show that you have:
- Made the investment that is mentioned in the business plan
- Taken sensible steps to establish or invest in the business explained in the business plan.
You need to provide evidence that you have invested capital by showing:
- Telegraphic transfers
- Bank statements
- Other documents which shows that the fund was transferred to New Zealand through the banking system.
You need to also show evidence that you have taken steps to invest or set-up by providing the following documents:
- A certificate of incorporation
- Audited accounts
- GST records
- Other tax records
- Documents showing you’ve purchased or leased the business site
- Invoices for business equipment and supplies
Other proofs such as employment agreements, bank statements, power bills for your business, sales agreements, and contracts to provide products or services may also suffice to show that you are in business.
Where you need to have an extension of the start-up period, you can get it if you provide evidence that you can set up a business in a specified time,
Evaluation: You must be willing to take part in an evaluation of the Entrepreneur Work visa category
You need to provide a signed declaration in the ‘Entrepreneur Work Visa Application’ showing your agreement for the evaluation of the Entrepreneur Work Visa Category if the application is approved. You should also agree to inform the immigration authorities of any changes in the contact details for 5 years to help get in touch with you about evaluation.
2.Entrepreneur Residence Visa
The Entrepreneur Resident visa category of the New Zealand Entrepreneur visa is designed for those who have been in New Zealand and self employed for a minimum of six months or those who have run a business for two years on another visa that permits self-employment. The Entrepreneur Resident visa allows you to stay for an indefinite time in New Zealand.
Benefits of Entrepreneur Resident visa
The visa helps you continue running your business in New Zealand. Your partner and dependent children of age 24 and under can join you. The Entrepreneur Resident visa also allows you work and study in the country.
Additional Eligibility Requirements for Entrepreneur Resident visa
You have to meet the following additional requirements for having this type of the New Zealand Entrepreneur visa.
Hold a Work Visa: You must be currently holding an Entrepreneur Work Visa in case you have been self-employed in New Zealand for less than two years. The immigration office will check the records for the evidence of the same. Where you have been operating your own business in New Zealand for a minimum period of two years and your visa satisfies all the essential criteria of the Entrepreneur Work visa and permits self-employment, you can apply for another visa
Run a Business in NZ: This New Zealand Entrepreneur visa also requires you to have started or bought a minimum of 25 percent of shares in a business in New Zealand and have been operating it for not less than 6 months. You need to provide the following evidence like:
- A certificate of incorporation
- GST Records
- Audited financial statements
- Other records showing taxes and wages and salary paid
- Employment agreements
- Export documents
- Invoices showing purchase of equipment or goods
- Any other evidence showing the running of the business
Business Goal: You must submit enough proof showing you have attained your goals according to the business plan outlined.
Profitable Business: You must prove that you have a profitable business or you run the business that is potential enough to give you profits within 12 months and you make sufficient money to get a yearly salary that is equal to the full-time minimum wage in New Zealand.
Economic Growth: Your business helps in contributing to the economic growth of New Zealand. You need to provide any of the evidence like:
- Presenting management or technical skills or new technology
- Improving management or technical skills or existing technology
- Introducing new or enhancing existing products or services
- Building new markets or expanding existing markets for exports
- Offering job opportunities of minimum one full-time job or three full-time jobs for a New Zealander in your business, which is less than 2 years old.
- Contributing new management capability, skills, networks and/or capital to increase the financial performance of the existing business.
Capital Investment: Your business must have enough capital investments as defined in your business plan. In case you have been operating a business which is less than two years old, then your capital investment must be at least NZ $500,000.
For the purpose, your capital investment will not include reserve funds or term deposits that come under speculative investments, your own car, home or boat, your private residential property and salary and wages paid to your family members.
Employment and Immigration Law: This New Zealand Entrepreneur visa requires you to have your business conform to New Zealand employment and immigration law. For the purpose, you will be asked to give proof that your business:
- offers minimum wages or that of contracted industry standard
- follows holiday and other leave requirements
- offers a safe workplace
- Hires people permitted to work in New Zealand
The immigration authorities cannot approve your business if your business is included in the non-compliment list and is maintained by Labour Inspectorate.
No Welfare Assistance: This category of the New Zealand Entrepreneur visa requires you to have not obtained any welfare benefits or assistance since the time you are issued a work visa.
Business less than 2 years old: Where your business is less than two years old, you are required to meet extra requirements. The immigration authorities may waive the minimum capital investment condition if your business is in science, ICT, or any other high-value export sector and it shows high level of innovation or high growth prospects in the short term.
Your business must necessarily be aimed to provide the following if it is considered as a high-value export business:
- Create 5 or more jobs for New Zealanders
- Generate turnover of NZ $500,000 in annual exports
In order to prove that your business is of a high level of innovation, you need to provide the following evidence.
- New methods to produce more goods or services without any extra production cost
- The business will be successful because of the innovation.
Other Business Visas
Investor Visas: They are of two types: Investor visa and Investor Plus visa. If you can invest a minimum of NZ$3 million in bonds, stock or other investments for a minimum of 4 years, you can apply for an Investor visa. The Investor Plus visa requires you to have at least NZ $10 million invested for a minimum of three years.
Global Impact Visa: This visa is for those who are a high-impact entrepreneur or investor who want to make scalable and positive global impact.
Processing Time for New Zealand Entrepreneur Visa
The processing time of the New Zealand Entrepreneur Visa depends on the type of the visa you apply as a paper submission:
The New Zealand Entrepreneur visa is processed within 6 months and most of the applications lodged are completed within this time period. The Entrepreneur Work visa, on the other hand, is processed within 10 months.
Cost for New Zealand Entrepreneur Visa
The application fee for the New Zealand Entrepreneur Visa differs depending on the visa you apply.
As for the New Zealand Entrepreneur visa, the cost for processing the application is NZD $3,920, while that for the Entrepreneur Work visa, it is NZD $3,378. The fee is inclusive of the immigration levy payable.
Other Costs
You may also have to pay costs related to health examinations and police certificate which may differ from country to country.
Our Professional Services Fee
It depends on the type of the visa and the work involved from our end.
Get the Help of Licensed Immigration Experts
To have the New Zealand Entrepreneur visa granted, it is advisable and essential to find the service of an immigration and visa consultant, which is licensed by the Immigration Advisers Authority (IAA) to immigrate to New Zealand from India.
We, at Immigration Help, have specialist expertise in dealing with temporary visa and permanent residency in New Zealand. Being a professional in the field, we assure you that we meet the competency standards laid by the New Zealand government. We can help you with the following:
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- Assess your situation and advise you whether you can appeal a declined visa.
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