New Zealand (NZ) has become a thriving hub for entrepreneurs, offering a supportive environment and an attractive destination with its natural beauty, high living standards, and welcoming approach to immigrants. Entrepreneurs can establish themselves in NZ through the Entrepreneur Work Visa, leading to the Entrepreneur Resident Visa, offering a pathway to contribute to the economy and gain residency.
Entrepreneur Work Visa (EWV)
The EWV is the starting point for business owners or managers who wish to set up or buy a business in NZ. This visa allows successful applicants to buy or establish a business, offering a potential pathway to residency. The visa is valid for up to three years and is divided into two stages: a 12-month Start-up stage and a 24-month Balance stage.
- Initial Entry (Start-up Stage): The first 12 months are designed to allow the applicant time to establish their business in NZ. During this period, the visa holder is expected to take tangible steps such as registering the company, securing premises, and hiring employees.
- Balance Stage: After completing the Start-up Stage, the visa holder may continue operating their business for an additional 24 months. To progress to this stage, applicants must show sufficient progress in establishing their business and demonstrate its viability.
- Pathway to Residency: The EWV is often seen as a stepping stone to the Entrepreneur Resident Visa, which offers residency for those who have successfully established a business.
Basic Requirements for EWV
To be eligible for an EWV, applicants must meet several key requirements:
- Minimum Capital Investment: Applicants must have a minimum capital investment of NZD $100,000 in their business. However, in exceptional cases, Immigration New Zealand (INZ) may waive this requirement for businesses that offer unique benefits to the country.
- Business Plan: A detailed business plan is a crucial part of the application process. This plan, dated within three months of the application, should outline the nature of the business, its structure, market opportunities, and expected financial outcomes. It must also show how the business will benefit NZ through job creation, innovation, or export opportunities.
- Business Experience: Applicants must demonstrate relevant business experience or a proven track record in a related field, such as prior business ownership, management, or industry-specific expertise.
- Health, Character, and Language Requirements: All applicants must meet INZ’s health and character requirements. Also, English proficiency is required, usually demonstrated by a score of at least 4 in the IELTS General or Academic module.
- Points System: Like many NZ visa categories, the EWV operates on a points-based system. Applicants need a minimum of 120 points, with points awarded based on factors such as investment amount, job creation, business location (bonus points for businesses outside Auckland), and the applicant’s experience.
Application Process
The EWV application involves several steps:
- Submit an Expression of Interest (EOI): Applicants begin by submitting an EOI, outlining their business proposal and points calculation.
- EOI Assessment: If the EOI meets the 120-point threshold, it will undergo further assessment, and the applicant may be invited to submit a full visa application.
- Submit Full Application: The full application includes detailed supporting documents such as the business plan, financial records, proof of investment funds, and evidence of business experience. INZ will also assess the business’s potential contribution to NZ’s economy.
- Approval: If approved, the applicant receives the EWV, enabling them to enter NZ and start their business.
Entrepreneur Resident Visa (ERV)
After establishing and running a successful business under the EWV, visa holders may become eligible for the ERV, which grants residency to individuals who have proven their ability to contribute to NZ’s economy.
Requirements:
- Business Success: Applicants must have successfully run a business in NZ for at least two years under the EWV. A fast-track option allows those who demonstrate exceptional business success to apply after just six months if they have invested at least NZD $500,000 and created at least three full-time jobs for NZ citizens or residents.
- Character, Health, and Language: Applicants must meet the residency class requirements for character, health, and English proficiency.
Temporary visa holders who have conditions which allow for self-employment may not be aware that they also may be eligible for residency under the ERV category. If you have been holding a visa other than an EWV which allow self-employment (for example, an open partner work visa), you can apply for an ERV provided that you can demonstrate you meet the requirements for both an EWV and ERV.
Application Process
- Submit Residency Application: Applicants must provide evidence of having successfully operated their business for the required period, including financial statements, tax records, employment contracts, and proof of meeting job creation or investment criteria.
- INZ Assessment: INZ will evaluate the business’s viability and its contribution to the economy. If approved, the applicant and their family are granted permanent residency.
Benefits of the Entrepreneur Visas
Among the many advantages of this visa category, we highlight the key benefits that attract applicants and their families seeking both business success and a high quality of life in New Zealand:
- Pathway to Residency: These visas offer a structured route to permanent residency, enabling entrepreneurs and their families to settle in NZ.
- Supportive Business Environment: NZ’s ease of doing business, transparent regulations, and dynamic economy foster innovation and entrepreneurship.
- Quality of Life: NZ offers stunning natural landscapes, safe cities, excellent healthcare, and high-quality education, making it an appealing destination for relocation.
- Access to Global Markets: Located in the Asia-Pacific region, NZ provides easy access to major markets such as Australia, China, and Southeast Asia.
Common Pitfalls of the Entrepreneur Visas
We also list common pitfalls that can undermine an otherwise strong application, potentially leading to delays, rejections, or difficulties during the visa process:
- Unrealistic or Poorly Developed Business Plan: Business plans that lack detail, market research, or clear and realistic financial projections may lead to rejection.
- Insufficient Capital Investment: Failure to meet the minimum investment requirement of NZD $100,000 can result in an unsuccessful application.
- Inadequate Business Experience: Lack of relevant business experience or industry knowledge can weaken INZ’s confidence in your ability to run a successful business.
Message to Applicants
For entrepreneurs looking to expand their horizons and build a life in one of the world’s most picturesque and business-friendly countries, the entrepreneur visas are ideal pathways. However, the decline rate is relatively high – meeting the 120-point threshold may, on the face of it, seem relatively easy, but it is a complex application requiring sound legal advice. It is also important to have an experienced team who can advise whether it is the right pathway for you (as there may be alternative easier pathways to residence you have not considered).
With the right business plan, investment, and commitment, entrepreneurs can turn their vision into reality while contributing to NZ’s growing economy. Our team is happy to assist you throughout this journey.
Please note that this article not a substitute for legal advice and you should contact your lawyer about your specific situation. Please contact us by email immigration@parryfield.com or by phone 03 348 8480, if you have any questions.
请注意，本文不构成法律建议，您应就您的具体情况联系您的律师。如有任何疑问，请通过邮箱 immigration@parryfield.com 或电话 03 348 8480 联系我们。
