New Zealand Business Visas
Prospective immigrants who want to settle in New Zealand and have good amount of money to invest in business, can take up Business Visas.
Business Visas: Long-Term Visas which Ultimately allow Visa Holders to become Residents of New Zealand
Entrepreneurs or investors, who can work and sustain themselves in New Zealand, can opt for Business Visas. Generally, these visas are long term ones that cater from 2 to 4 years and more. It is also necessary to show that the business they will be conducting or investing, must be beneficial to the economy of New Zealand.
The visas are granted under various categories to set up or work in a business.After successfully developing the business, the visa holders can apply for Residence Visa for permanent residency in New Zealand.
The New Zealand government has been looking for investors and entrepreneurs with a sound business plan to develop the country’s regional areas. Three main Business categories are available:
- Long-term business category offers Long Term Business Visa (LTBV) – it is basically a work visa where the visa holder must have the experience of setting up a business and funds to maintain the business and himself or herself for 3 years. Once the visa holder successfully does this job, he or she can apply for permanent residency. It is a:
- Temporary work permit for self-employment
- Visa where visa holder must own or work as manager in a business
- Entrepreneur category offers Entrepreneur Visa – it is visa that helps visa holders to get permanent residency once they complete 3 full-time job opportunities in New Zealand, invested at least NZ$0.5 million and must have stayed in New Zealand under another visa for at least 2 years.
- Investor category offers Investor Visa – it is a visa that helps visa holders to get permanent residency without starting any business.
Active Investor Visa
There are 3 subclasses under this Active Investor Visa - Global Investor, Professional Investor, and General Investor. Global investors with a investing capacity of $20 million are given first preference. The Professional Investor with $10 million will be given the next preference and finally, the General Investors.
Visa holders for any of these visa categories must provide evidence that they have enough funds to set up a business or invest a considerable amount in the next few years in New Zealand. Initially, the visas are granted for some months. Later, the visas are extended depending on how much the visa holders have progressed in setting up their business.
While the aforesaid visas are pathway to permanent residency, there is another business visa which is temporary in nature. The Temporary Retirement Category visa allows foreigners above 65 years of age to invest NZ$75,000 and conduct business for 2 years.
Are you looking for an opportunity to get a business visa? Write to our visa help desk for more information.
Foreign Immigrants Settling as Permanent Businessmen have Good Chance to Promote their Business
Many international entrepreneurs set up business in New Zealand. Although there may be initial hassles, the immigrants can pursue their trade. They need to stay self-employed for at least 2 years before applying for a suitable visa to pursue their own business in the country.
Not all immigrants are skilled workers who wish to work as employees at various firms in New Zealand. Many entrepreneurs look for opportunities to set up their business in the country while some try to become a franchisee. The businessmen must address the visa formalities and apply for a particular visa that would help them to stay on in the country and pursue their business.
The prospective entrepreneur immigrants are also given suitable advice by appropriate authorities regarding New Zealand tax rules and business laws. Advices would also be given on how to start a business from scratch, whom to seek advice from, and how to get permanent residency in the country without much hassle.
Picking the Correct Business Choice
Some immigrants from European or developed nations create a business plan prior to their coming to New Zealand. They take advice from consultants of their own country. However, immigrants from Asian countries, tend to work first in a firm before setting up their shop. When ready, they look forward to retail or catering services to start their business. Learning the English language and communicating with the people in the same is an essential prerequisite of setting up business in New Zealand.
Make sure you seek advice from the correct resource, such as:
- Reports and articles of some universities – Massey University offers the Integration of Migrant Program that offers such tips.
- Tips from Office of Ethnic Affairs.
- Mentoring tips to set up business by council organization.
Migration and Visa Formalities
Foreign entrepreneurs, who want to settle in New Zealand with their full-fledged business, must be self-employed for two years and pursue their own business successfully in the country. To further consolidate their position in the country, they must apply for Work Visa under the Long Term Business Category.
The foreign settlers can try for permanent residency under the Entrepreneur Category. Initially a 9-month Work visa would be granted to the immigrants. They need to establish their business within this time and then, look forward to a 3-year Work Visa.
Entrepreneur Plus Category
Under the Entrepreneur Plus Category, the businessman can immediately apply for residency – if he or she does not require a minimum time to set up business in New Zealand. This fast-track pathway to permanent residency in the country would be eligible to the immigrant if he has:
- A long-term business visa.
- Already established business in the country.
- Invested a minimum of 0.5 NZDollars in business.
- Created at least 3 full-time jobs in his business.
Long-Term Business Visa
To get a Long-Term Business Visa, the immigrant must have:
- Useful experience in Business and be self-employed for 2 years.
- Adequate funds to make the business plan operational.
- Suitable business plan that complies with the rules of Immigration New Zealand.
- Adequate funds to stay in New Zealand.
- English language proficiency of at least Level 4 of IELTS.
- Excellent health and character.
Franchisee – A Novel Business Approach for Immigrants
Many immigrants who don’t have a strong business plan or don’t want to give their attention to formulating business strategies, choose franchisee as a means to boost their business endeavor. There are many reasons for doing so, such as:
- Getting adequate help from franchisor is simpler
- Performing is easy as the business is already an established one
- Acquiring financial assistance from banks is easy as business model is established
- Obtaining a Residence Visa is faster under the Business Visa Categories is hassle-free.
New Zealand government is quite keen to welcome the business community. Immigrants are given adequate help and advice to propel their business in the country and care must be taken to make use of these facilities to establish one’s business in the country.
New Zealand Immigration Authorities changes Long Term Business Visa to Entrepreneur Work Visa
From March 2014, there will be changes to the business migration policies. The Long Term Business Visa will be renamed as Entrepreneur Work Visa. There will also be a change in the point system. Extra points will be allotted to those who want to invest in New Zealand. At least $100,000 capital investment must be made.
Those who have already lodged their application will be able to get visa under the old policy. The immigration authority is also planning to change the Entrepreneur Plus Category to Entrepreneur Residence Visa. Those who have run the business for 6 months will be given a priority for residency.
If you are looking for a business visa so that you can work and stay in New Zealand, you can opt for the Entrepreneur Work Visa.
Check with our visa helpdesk for details.