Among the many ways to immigrate to New Zealand, the Entrepreneur Work Visa has always been highly favored. New Zealand entrepreneur immigration involves purchasing or establishing a business in New Zealand to make a contribution to the New Zealand economy, thereby obtaining New Zealand residency. Today, we will take a closer look at the steps and relevant details of New Zealand entrepreneur immigration.
I. Steps for New Zealand Entrepreneur Immigration
New Zealand entrepreneur immigration is a general term for a relatively complex system. Overall, it is divided into three stages: the "New Zealand Entrepreneur Work Visa, the New Zealand Entrepreneur Residence Visa, and the permanent resident visa." Each stage requires the applicant to meet corresponding conditions, complete the relevant entrepreneurial tasks, and create a certain number of jobs.
Step 1: Apply for a 12-month Entrepreneur Work Visa. This visa can be applied for from outside New Zealand. However, within 12 months of the visa being granted, the applicant must arrive in New Zealand as soon as possible. Based on the content of the submitted business plan, the applicant should begin implementation promptly to complete the business setup and commence business activities.
Step 2: Apply for a 24-month Entrepreneur Work Visa. Before the first 12-month Entrepreneur Work Visa expires, the applicant needs to apply for a 24-month Entrepreneur Work Visa. The prerequisite for this visa application is that the applicant has fulfilled the business plan submitted in the first step, has successfully created or purchased the required business, and has commenced business activities. After submitting all materials (evidence of business creation or purchase, etc.) to Immigration New Zealand, the applicant will be granted a 24-month entrepreneur visa to continue operations for 24 months.
Step 3: Apply for residency. Before the second 24-month Entrepreneur Work Visa expires, the applicant, having already begun living in New Zealand, may submit a residence application to obtain residency, provided they have met the investment, turnover, and capital requirements outlined in the business plan. Thereafter, the government will no longer specify whether the business must continue to be operated. By this point, all steps of the entrepreneur immigration process are essentially complete, and the applicant has obtained New Zealand resident status. If the business fails within three years, you may apply for a six-year extension.
In addition, it should be noted that the entrepreneur immigration program began implementing a points-based system in early 2014, which requires 120 points or more to be selected. During this process, if a spouse works through the Skilled Migrant Category and obtains residency, the entire family can also achieve their immigration goals.
II. Details to Note for Entrepreneur Immigration
New Zealand has many immigration policies, and the entrepreneur immigration program is the most cost-effective business immigration method among traditional immigration countries, which is why it has received attention and favor from many applicants. However, against the backdrop of reduced quotas and strict business audits, the rejection rate for New Zealand entrepreneur immigration continues to rise. At the same time, with the number of applicants increasing year by year, Immigration New Zealand's review of applicants' business plans is becoming increasingly stringent; even if requirements are met, they will select investors with the best economic and comprehensive capabilities. Therefore, applicants hoping to immigrate to New Zealand through the entrepreneur program should fully master the policies in all aspects. No detail should be ignored, as a single misstep could lead to the inability to obtain an immigration visa.
There are various types of New Zealand entrepreneur visas, including temporary visas and residence visas, with different durations of stay, which should be considered based on individual circumstances. Furthermore, we strongly remind everyone to pay close attention to the business plan; the terms should be comprehensive, as detailed as possible, and every clause should be carefully considered.