New Zealand Entrepreneur Visa – The A To Z

Planning to migrate to New Zealand and start a business? You will need a New Zealand Entrepreneur Visa or a start up visa.

New Zealand is home to thousands of successful start-ups. It is particularly beneficial for technology-based start-ups. The country has no dearth of talent, the government supports entrepreneurs with tax incentives and society has a progressive outlook towards it.

This attitude extends to entrepreneurs from outside New Zealand who want to set up businesses in the country. To encourage entrepreneurs, New Zealand is one of the few countries to have a start up visa program.

Read: Types Of New Zealand Visa

New Zealand Entrepreneur Visa Or Start-up Visa

The New Zealand Entrepreneur Visa allows an individual and his/ her partner and dependent children under the age of 19 years to live in New Zealand for 12 months in the start-up stage.

It may be granted for an additional 24 months once the business has been set up. The key criteria for this extension are:

• The Entrepreneur Work Visa must be valid at the time of application
• The individual must prove the transfer of investment capital to New Zealand
• The individual must prove that satisfactory steps have been taken to establish and invest in the proposed business.

Thus, it permits an overall stay of 3 years.

Later, the individual can apply for a residence permit under the Entrepreneur Residence Category.

Read: What Is The Cost Of Living In New Zealand?

New Zealand Entrepreneur Visa Requirements

• The individual must score at least 120 points on the New Zealand visa ranking scale
• The individual must have a clear business plan no more than 3 months old
• The individual must be willing to make a minimum capital investment of NZ$100,000 excluding the working capital.

Evidence required:

• Bank statement
  • Tax returns
  • Pay slip
  • Bank certificates
  • Share trading profits
  • Title deeds
  • Property valuation
  • Share certificates
  • Asset valuations
  • Business ownership documents
  • Evidence of inherited money
• He/ she must clear the English language test within two years prior to applying

Test	Minimum score
International English Language Testing System (IELTS) – General or Academic Module	4.0
Test of English as a Foreign Language Internet-based Test (TOEFL iBT)	31
Pearson Test of English Academic (PTE Academic)	29
Cambridge English B2 First (FCE)	142
B2 First for Schools (FCE for Schools)	142
Occupational English Test (OET)	Grade D

• He/ she must meet the health and character requirements
• Visas will not be granted to anyone who has been involved in a failed business venture, financial wrongdoing or bankruptcy in the last 5 years.

Exemption For The Minimum Investment Requirements

• The business idea must be categorized under the ICT/ science/ high-value export sector
  • The business must create 5+ full-time jobs
  • The business must have a forecasted annual turnover of at least NZ $500,000
• The business must have a high level of innovation
  • The business should be likely to succeed because of innovative ideas
  • It should prove a way to increase production without boosting production costs
• The business idea must show significant short-term growth prospects

Business Plan For New Zealand Start Up Visa

The proposed business plan must cover the following points

• It must list details of the proposed business venture
  • type of business
  • industry
  • position in the market
  • targeted customers,
  • suppliers and distributors
  • required assets
• It must include copies of any documents needed to show that this business can operate in New Zealand
• It must specify the individual’s intended involvement/role in the proposed business
• It must provide an outline of the proposed ownership structure
  • Sole trader/ Partnership/ Limited liability company/ Subsidiary of overseas company/ Other
• It must include a SWOT (Strengths, Weaknesses, Opportunities, Threats) analysis of the proposed idea
• It must prove knowledge of the New Zealand business environment and demand for the business
• It must show any contact made or advice sought from relevant New Zealand trade associations
• It must be supported by a summary of professional advice regarding establishment of the business
• It must list educational and professional qualifications or registrations required and obtained to run this business in New Zealand
• It must contain details of any other registration/ consent required under the Investment Act
• It must include details of proposed marketing strategy of the business
  • market size
  • estimated market share
  • market positioning
  • competitor analysis
  • distribution and pricing strategy
• It must outline business expectations in the first three years
• It must describe an operational plan and timeline estimation of time required for
  • establishing the company
  • obtaining approvals
  • finding premises
  • purchasing equipment
  • recruiting staff
  • establishing a distribution network
• It must show a detailed financial information and forecast

New Zealand Start Up Visa Point Scale

Points can be calculated as follows for a New Zealand Entrepreneur Visa. An individual must get at least 120 points to be eligible for this visa.

1. Minimum Capital Investment

Investment (NZD)	Points
$100,000 – $199,000	0
$200,000 – $299,000	10
$300,000 – $399,000	20
$400,000 – $499,000	30
$500,000 – $749,000	50
$750,000 – $999,000	60
$1 million +	80

2. Business Experience

Years Of Experience	Points
3-4 years	20
5-9 years	30
10+ years	40

Years Of Experience	Points
3-4 years	5
5-9 years	15
10+ years	20

3. How the business will benefit New Zealand?

Number Of Full-Time Jobs Created	Points
1	10
2	20
3-4	30
5-9	50
10+	80

Annual Export Turnover Forecasted	Points
$200,000 – $299,000	10
$300,000 – $399,000	20
$400,000 – $499,000	30
$500,000 – $749,000	50
$750,000 – $999,000	60
$1 million +	80

4. Age of the applicant

Age	Points
<24	15
25-29	20
30-49	20
50-59	10

5. Location

Businesses that will be based outside Auckland will get 40 points.

Applying For A New Zealand Entrepreneur Visa

The New Zealand Entrepreneur Visa application form can be downloaded here.

The completed form along with supporting documents may be sent to a receiving centre. The application for the individual as well as his/ her partner and dependents can be submitted together.

• Immigration New Zealand, PO Box 76895, Manukau City, Auckland 2241, New Zealand

An application fee inclusive of a non-refundable immigration levy must be paid. This amounts to NZD 3,365. Most applications are processed within 25 months. There is nothing to be done in the meantime.

Also Read

• How to Migrate to New Zealand as a Student, Professional and Entrepreneur
• How to Apply for a New Zealand Skilled Migrant Visa?
• How to Apply for New Zealand Investor Visa