Investor and Entrepreneur Visas for New Zealand
Do you want to invest or start a business in New Zealand? Is the array of visa options confusing you? Let us explore the possibilities of New Zealand visas for professionals.
New Zealand has an attractive business landscape. The country has a stable economy as it smoothly recovers from any period of slowdown. You must be aware that New Zealand is a highly developed free-market economy. Know the visa options to benefit from the country’s business environment.
Types of NZ Investor Visas
There are three types of New Zealand visas that investors can find useful.
Investor 1 Visa
The Investor 1 Resident Visa of New Zealand can be obtained by investing a minimum of NZD 10 million in acceptable initiatives. The required investment period is three years. This type of New Zealand visa will be suitable if you are over 65 years old. There is no age limit for the applicants. The visa also allows you to bring your family to the country and stay there for up to three years.
Investor 2 Visa
The Investor 2 Resident Visa requires a minimum investment of NZD 3 million. The investment period for it is 4 years. However, an age limit applies to inverter 2 visas. This visa also gives you the opportunity to bring your family to New Zealand.
Investor Plus Visa
The Investor Plus Visa is granted on investing at least NZD 10 million for Balanced and NZD 5 million for Growth categories. You will have the choice between the two investment categories. The main advantage of this New Zealand golden visa is fast-tracked application and shorter processing time. You will be able to enjoy approval in principal 80% within a maximum of five years.
Types of NZ Entrepreneurship Visas
Entrepreneurship visas issued by New Zealand are of two types.
Entrepreneur Work Visa
The Entrepreneur Work Visa is for those who want to set up a business in New Zealand or invest in one. It is also applicable for working in your own business in the country. Applicants are required to invest at least NZD 100,000. The processing time for this type of visa is 80% within a period of 14 months. This type of New Zealand visa will grant you a stay of up to three years in the country.
Entrepreneur Residence Visa
The Entrepreneur Resident Visa is for those who are residing in the country as self-employed for a minimum of six months. This visa is also for the ones who have run a self-employed business in the nation for two years on another type of visa. The visa will allow you to continue running your business in the country. The visa will also let you work and study in New Zealand. Partner and dependent children can also be included in the visa application.
Eligibility criteria for the visas
The eligibility criteria for each type of investor and entrepreneurship visa differs.
For investor visas
Applying for the Investor 1 Visa is straightforward. You need to show that you are eligible by presenting evidence of lawful funds. You may also be required to spend at least 44 days in the country during the last two years of your investment period. You will also be eligible if you can spend a total of 88 days over the three-year investment period.
Make sure that you have a decent proficiency in English before applying for an Investor 2 Visa. You have to be below the age of 65 years to be eligible. The need to present evidence of lawful funding and a three-year recognised business experience also applies to the Investor 2 Visa. You may also be required to prove your intentions for staying in New Zealand. The stay requirement includes 146 days per year. You will also be eligible if you spend a total of 438 days over the four-year investment period. Investors are also required to show that their family members are able to speak English.
Reduced barrier to visa application is another reason you can get the Investor Plus Visa. An example of such a reduced barrier is that there is no requirement for English language proficiency. Satisfactory skill in the language is enough. You will be eligible upon spending 21 days over the three-year investment period in the case of the Growth category. The minimum stay requirement is 105 days over the five years for the Balanced category. This New Zealand golden visa may just be the best choice for investors.
For entrepreneurship visas
You must also be able to demonstrate speaking and understanding English. You will also need to present a profitable business plan to be eligible for entrepreneurship visas. Applicants must also be able to secure 120 points on the New Zealand Immigration points scale to apply for an Entrepreneur Work Visa.
It is possible that you are not able to set up a business in the country to be eligible for the Entrepreneur Resident Visa. In this case, you may also acquire a minimum of 25% of shareholding in a New Zealand business to be eligible. It is also possible that you are not able to meet the requirement of operating a business in the country for two years. You can still be eligible for an Entrepreneur Resident Visa if you are able to create a certain amount of jobs and export turnover.
Additional requirements
You will also need to demonstrate good health and character in order to be eligible for the investor visas. The requirement for good health and character is applicable to entrepreneurship visas as well. Applicants must also not have involvement in a bankrupt or failed business in the past five years to apply for Entrepreneur Work Visa. You should also not have your name linked with financial wrongdoing or corporate fraud.
Benefits of the visas
Living, working, and studying in New Zealand, with or without family, is a common benefit of investor and entrepreneurship visas.
For investor visas
Investor visas allow you an indefinite length of stay in New Zealand. The investor visas will also let you work and study in the nation. The applicants are also allowed to bring their family members. You may also be permitted to bring your household items and vehicles to New Zealand without a customs fee.
For entrepreneurship visas
The primary benefit of entrepreneurship visas is that they let you own a business in the country. The Entrepreneur Work Visa allows you to stay for up to three years in the country. You should apply for the Entrepreneur Resident Visa if you want an indefinite stay. Both types of entrepreneur visas will let you work and stay in the country. Go for the Entrepreneur Work Visa if you think an NZD 100,000 capital investment waiver will help you. Businesses in ICT or science sectors with high innovation and export potential may receive the waiver.
Visa application processes
The process of applying for New Zealand visas is simple if you have all the necessary documents and certificates.
Investor visas
Your application process should start with sending out an Expression of Interest (EOI) to Immigration New Zealand. You will be invited to present the necessary documents and evidence if your EOI is accepted. You will have to fill out standard forms and pay the fees. Make sure you have all the supporting documents ready. These documents can include medical clearance and a police certificate.
Entrepreneurship visas
The process of applying for entrepreneurship visas is the same as for investor visas. You only need to make sure that you are submitting documents specific to your eligibility criteria. Evidence specific to entrepreneur visas includes new profitable business plans and past company financial statements.
Challenges and considerations for applicants
Please do not overlook the common mistakes that visa applicants make.
Investor visas
Investors might find the high investment threshold challenging. Also, every investment has some level of involved risk. You may also find it difficult to meet business expectations and compliance requirements in a new country.
Entrepreneurship visas
Interested entrepreneurs may find navigating the process of business plan approval overwhelming. The financial feasibility and operational viability of a proposed business can also become a challenge.
Alternatives to the visas
Check out the alternative visa options if you do not qualify for the aforementioned ones.
Global Impact Visa
Are you someone capable of developing global impact ventures from New Zealand but not eligible for any visa category? You need to apply for the Global Impact Visa. It is an open work visa with a three-year validity. The visa will let you live and work in the country.
Work to Residence Visa
Are you working for an accredited employer in New Zealand? Or do you have a job offer? The Work to Residence visa will be appropriate for you. You can also apply for this type of New Zealand visa if you have worked in-demand role on a Tier 2 green List for 24 months. You must be 55 years old or younger to be eligible for a Work to Residence visa.
You must have already made the choice between investor and entrepreneurship visas by now. Investor visas will let you work and live in New Zealand. It also lets you study in the country. You will also be able to bring your family and vehicles to New Zealand under investor visas. Entrepreneurship visas also offer you the same opportunities. What you may find different with entrepreneurship visas is the ability to set up a business in the country or acquire shares. So do you have the capital investment or business plan ready to apply for these New Zealand visas? Go ahead and make the decision till opportunities exist.