New Zealand
Entrepreneur Work Visa – Many experienced business persons interested in being self-employed in their own businesses opt for entrepreneur visas.
The New Zealand Entrepreneur Work Visa
Many experienced business persons interested in being self-employed in their own businesses opt for entrepreneur visas.The Entrepreneur Work Visa is a three-year work visa which allows an individual to move to New Zealand and buy or establish a business. Subsequently, after either six months or two years, the individual can then apply for residence under the Entrepreneur Residence Category.The Entrepreneur Work Visa is structured in two stages:-
- Start-up stage:-Consequent upon the approval of your application, initially, you will be given a 12-month work visa which would enable you to buy or establish your business in New Zealand.
- Balance stage:-Having proven that requisite steps havebeen taken by you to establish your business, the remaining 24 months of your visa is granted to you.
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Eligibility Criteria
The following conditions ought to be mandatorily met in order to be eligible for the New Zealand Entrepreneur Work Visa:-
- A clear and comprehensible business plan.
- With points awarded for factors about the likely success of the business and its value to New Zealand, the applicant ought to have secured a minimum of 120 points.
- A minimum capital investment of NZ $ 100,000/- which does not include the working capital.
- The applicant should have a clean recent history of bankruptcy, business failure and fraud.
- Requirements of sound health, good character and knowledge of English language.
How can entrepreneurs qualify for residence in New Zealand?
Provided that one has established a high growth and innovative business with export potential in New Zealand, the Entrepreneur Residence Category has provisions for the applicant to live in New Zealand permanently. Under this policy, there are two ways of qualifying for residence:-
- Entrepreneur Residence Category (2 years) – The requirement here is to have successfully established or purchased a business in New Zealand and to have been self-employed in that business for at least two years. Also, the established business ought to have significantly benefited New Zealand.
- Entrepreneur Residence Category (6 months) – If one wants a faster track to residence in New Zealand, one must explore this option. It requires one to have invested at least NZ $ 500,000/- in one’s business and to have created a minimum of three new full-time jobs for New Zealand citizens or residents.
However, both the options require the applicant to meet health, character and English language requirements.
Also, if the holder of an Entrepreneur Work Visa to New Zealand has a partner or children who are dependent on him or her, they can be granted work and student visas respectively if they accompany the holder. Alternatively, The holder can include them in the Entrepreneur Residence Visa application.