Entrepreneur Residence Visa Category

Requirements:

Businesses established in New Zealand must comply with all relevant employment and immigration law in force in New Zealand.

Principal applicants who lodge applications under any business immigration category, meet the minimum standard of English if:

• they provide a certificate from the International English Language Testing System(IELTS), which shows an overall band score of at least 4 in the IELTS General or Academic Module; or
• they provide evidence that they have an English-speaking background (which is accepted by a business immigration specialist as meeting the minimum standard of English).

Principal applicants and partners and/or dependent children included in the application must meet health and character requirements

Principal applicants in the Entrepreneur Residence Visa Category are required to demonstrate that:

• a) they have successfully established a business in New Zealand that realises the benefits outlined in their business plan, and have operated that business for at least two years; and:


• have been self-employed in that business for two years prior to the date the application under the Entrepreneur Residence Visa Category is made; and
• hold an Entrepreneur Work Visa, Long Term Business Visa or other visa which allows self-employment.
• If a principal applicant does not hold an Entrepreneur Work Visa or Long Term Business Visa, they must demonstrate that meet the requirements to have been approved for an Entrepreneur Work Visa
• b) they have successfully established a business in New Zealand that realises the benefits outlined in their business plan, and have operated that business for at least six months; and:


• have been self-employed in that business for two years prior to the date the application under the Entrepreneur Residence Visa Category is made; and
• have invested at least $NZ500,000 (excluding working capital) in their business; and
• have created at least three ongoing and sustainable full time jobs for New Zealand citizens or residents; and
• hold an Entrepreneur Work Visa or a Long Term Business Visa at the time the residence visa application is made.
• Applicants who have operated a business for six months must provide evidence:


• of how their investment funds have been invested in their business and how this has benefited the business or increased its value; and
• that any jobs created meet the definition of full time employment,as shown by employment contracts, wage and salary records, or evidence of business turnover.

• a. A business is considered to add significant benefit to New Zealand if it can demonstrate that it has promoted New Zealand’s economic growth by for example:


• introducing new, or enhancing existing, technology, management or technical skills; or
• introducing new, or enhancing existing, products or services; or
• creating new, or significantly expanding existing, export markets; or
• creating sustained and ongoing full time employment for one or more New Zealand citizens or residents; or
• the revitalisation of an existing New Zealand business that has led to significantly increased financial performance; or
• introducing productivity-enhancing spill over benefits or increased capacity utilisation (such as significant net new job creation); and
• b. The business is trading profitably on the date the application is lodged or a business immigration specialist is satisfied that it clearly has the potential to become profitable within the following 12 months.

• a. All documents submitted to prove that the principal applicant has business in New Zealand must be produced by a reliable independent agency.
• b. Evidence that the principal applicant has established a business in New Zealand may include, but is not limited to:


• a certificate of incorporation
• audited accounts
• GST records
• other tax records

Evidence that the principal applicant's business is benefiting New Zealand may include, but is not limited to:

• audited accounts;
• tax records;
• export/import documentation, such as letters of credit;
• employment records.

Applicants approved under the Entrepreneur Residence Visa Category are required to pay a migrant levy.

An application under the Entrepreneur Residence Visa Category will be declined if:

• the business on the basis of which the application is made was established while the principal applicant was the holder of a work visa granted under the Entrepreneur Work Visa or Long Term Business Visa Category; and
• the business is different from the business proposal (except for a business proposal subsequently modified with the consent of a business immigration specialist) in respect of which the applicant was granted a work visa.

Applications under the Entrepreneur Residence Visa Category will be declined if the principal applicant and any partner or dependent child/ren applied for and was granted welfare assistance under the Social Security Act 1964 while in New Zealand during the currency of their temporary visas.

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8 Eldon Street, Takapuna
Auckland, New Zealand
Phone: +64 9 475 5027
Fax: +64 9 475 5054
Email: info@parklegal.co.nz

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