New Zealand Business Visa
New Zealand is an island country situated in the Southwestern Pacific Ocean in the Southern Hemisphere. It consists of a North Island, South Island, and several smaller islands. Its closest neighbor is Australia, which is over 1500 kilometers away.
New Zealand ranks as the fifth-largest island nation globally and is renowned for its breathtaking natural beauty and diverse landscapes.
In the 1980s, New Zealand underwent significant economic reforms, resulting in a liberalized free trade economy. The national economy is dominated by the service sector, followed by the industrial sector and agriculture. International tourism has seen substantial growth in recent years and plays a crucial role in the country's economy.
New Zealand is known for its stable governance and is considered a developed country that provides its residents with a high quality of life, access to health facilities, free education, and economic freedom. It is a popular destination for students, especially from Asian countries, due to its numerous universities and diverse education programs.
New Zealand Business Immigration Program:
The New Zealand Business Immigration Program encompasses three main categories:
- Entrepreneur Work Visa Program
- Investor Investor Visa Program
- Global Impact Work Visa Program
Entrepreneur Work Visa Program:
This program targets experienced businesspersons interested in self-employment, including owning and managing their businesses in New Zealand. Passive investment or involvement is not permitted. Applicants can apply for an Entrepreneur Work Visa, enabling them to buy or establish a business in New Zealand. There are two options for obtaining New Zealand residency after receiving an Entrepreneur work visa: the fast track and slow track.
Fast Track:
Applicants can apply for residence under the Entrepreneur Residence Category after six months.
Slow Track:
Applicants can apply for residence after two years.
The Entrepreneur work visa is granted for three years and is divided into two stages:
- Start-up Stage: Initially, applicants receive a 12-month work visa to establish or buy a business in New Zealand.
- Balance Stage: After demonstrating that they've taken necessary steps to establish their business, applicants are granted a visa for the remaining 24 months.
To qualify for this program, applicants must:
Make a minimum capital investment of NZ$100,000 (excluding working capital). Demonstrate a minimum capital investment for businesses in science, ICT, or high-value export-oriented sectors with innovation or growth prospects. Obtain 120 points or more, based on factors related to business success and value to New Zealand. Have a detailed, up-to-date business plan relevant to the New Zealand economy. Have no recent history of bankruptcy, business failure, or fraud. Be in good health and of good character. Meet English language requirements (typically an IELTS score of 4 band or English-speaking background).
Applicants must show active, full-time involvement in managing and operating their business in New Zealand.
Successful applicants under the Entrepreneur Residence Category can live in New Zealand permanently by establishing a high-growth, innovative business with export potential.
Obtaining Residency in New Zealand:
After establishing a business in New Zealand, applicants can qualify for permanent residence in two ways:
- Entrepreneur Residence Category (2 years): Self-employment for at least two years in a beneficial business.
- Entrepreneur Residence Category (6 months): Faster residency option with a minimum investment of NZ$500,000 and creating three new full-time jobs for New Zealand citizens or residents. Spouses and dependent children can apply for work and student visas when accompanying the Entrepreneur Work Visa holder to New Zealand and must meet English language requirements.
Investor Visa Programs:
Investor Visa programs in New Zealand allow applicants to invest funds to obtain direct residency. There are two categories:
- Investor Category 1 (Investor Plus Visa): Requires a minimum investment of NZ$10 million for three years.
- Investor 2 Category (Investor Visa): Requires a minimum investment of NZ$3 million over four years.
Requirements for Investor Category 1:
Invest a minimum of NZ$10 million for three years. Ownership of investment funds by the applicant or jointly with their spouse and/or dependent children. Funds must be free of mortgage or other liabilities. Funds must be legally earned or obtained. Reside for 44 days in New Zealand during each of the last two years of the three-year investment period or 88 days over the full period. No specific language or age requirements.
Requirements for Investor 2 Category:
Invest a minimum of NZ$3 million over four years. Ownership of investment funds by the applicant or jointly with their spouse and/or dependent children. Funds must be free of mortgage or other liabilities. Funds must be legally earned or obtained. Reside for 146 days in New Zealand during each of the last three years of the four-year investment period or 438 days over the full period. Applicants must have at least three years of business experience. English language requirements apply. Family members must also meet English language requirements. The applicant's age should not exceed 65 years.
Investors in the Investor 2 Category who invest at least 50% of their funds outside of bonds and philanthropic investments can qualify for a NZ$500,000 reduction in the required investment amount. Acceptable investments in New Zealand include those with the potential for a commercial return, investment in New Zealand currency, contributions to New Zealand's economy, and not for personal use.
Investors interested in the Investor Visa program can invest in public or private equity firms, bonds issued by the NZ Government or approved entities, new residential property developments, and philanthropic investments. Once approved, applicants have 12 months to transfer their investment funds into an acceptable New Zealand investment. They must provide documents to support the legal origin of the nominated funds.
Global Impact Work Visa Program (Start-Up Visa):
The Global Impact Visa Program aims to attract innovative entrepreneurs, investors, and start-up teams capable of fostering innovation-based ventures in New Zealand. It is a partnership between Immigration New Zealand and a private sector partner, with a limited number of visas available.
Applicants are selected for a 36-month incubation program. Successful completion allows them to apply for a New Zealand immigrant visa. Requirements include an IELTS score of 6.5 or equivalent language proficiency, maintenance funds of NZ$36,000 for 12 months, and meeting health and character requirements. On successfully completing the program, applicants can apply for a Resident Visa in New Zealand.