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