After obtaining the residence visa and meeting further requirements the applicant can obtain permanent residence which has no further requirements or stay obligations (permanent residence in New Zealand is for life).
There is no age limit but age is considered when determining points under the points test. The principal applicant must have the equivalent of IELTS 4+ or study conducted in English. There are no requirements for English for the spouse or children for the initial work visa stage. There are no specific education requirements. There are no specific requirements but the applicant should have sufficient relevant experience for the business in New Zealand.
The applicant must have at least NZD$100,000 available to invest in the business. This amount can be reduced for ICT, Science, Innovative or High Growth business ideas
Stage 1 : Work visa
This is a 3 year visa that allows 12 months to establish the start-up and another 2 years to operate the business. To obtain the work visa the applicant must meet a minimum of 120 points under a points test. The points test considers factors including include age, business or management experience, employment creation, export business turnover, unique products or services, capital investment and business location outside of Auckland.
A detailed business plan is required. We can arrange a consultant to prepare or you can prepare this personally. If you prepare this personally we will provide templates to complete with the required information. The plan must cover:
- Details of business proposal
- Level of involvement and role in the business
- Ownership structure of the businesses
- SWOT analysis
- Market research and knowledge of business environmental
- Relevant advice from trade associations
- Professional advice received
- Professional qualifications or registration
- Marketing strategy
- Business goals and targets within 3 years
- Staffing plan
- Time-line for major milestones: establishing business, obtaining approvals, finding premises, purchasing equipment, staffing, establishing networks and starting operations
- Capital investments
- Projected cash flow forecasts
The applicant must also be able to show evidence of sufficient funds to finance the business and support self and family, sufficient relevant business experience, market research, sound business record (no recent bankruptcy or failure), and ensuring any relevant licensing or registration is obtained, and any export licenses/rights required are obtained.
Stage 2 : Residence visa
This is a residence visa that is available after the applicant has been self employed in the business in New Zealand for at least 2 years, and has met the targets agreed in the business plan. The applicant can apply for this residence visa after being self employed for 6 months if the business has employed at least 3 full time staff and the applicant has invested at least NZD$500,000 capital.Contact us to discuss, review eligibility or just have a chat to understand more about the visas.