Entrepreneur work visa

Entrepreneur work visa

Entrepreneur Work Visa is a category of temporary entry class visa with conditions that allow self employment in New Zealand.
Minimum Requirements for applicants willing to obtain this visa:
A minimum investment of NZ$100,000 is required
Applicant must meet or exceed 120 points on a scale (mentioned below) which awards points for the factor relating to the likely success of the proposed business and its value to New Zealand. Persons under this category have the opportunity to apply for residence under Entrepreneur Residence Visa Category
Prepare a Busniess plan which must meet certain requirements
Principal applicant must meet a minimum standard of English to ensure their English language ability is sufficient to assist them to successfully settle in NZ. An overall band score of at least 4 in the IELTS General or Academic module is required. English Language can also be met if the applicant can demonstrate they have an English speaking background or are a competent speaker of English.

Entrepreneur start-up stage is for 12 months during which a business is expected to be established and commenced. If holders do not meet specific requirements during first 12 months, visa expires at the end of Entrepreneur start-up stage. If holders meet requirements, visa will be valid for the balance of the 3 years period. Further visa may be granted beyond 3 years period but only for periods not exceeding 3 years and only where a Business Immigration Specialist is satisfied that there are valid reasons for the Principal Applicant needing a further Entrepreneur Work Visa to meet the requirements to apply for or be granted residence under the Entrepreneur Residence Visa Category .

The following table outlines the points that can be awarded for an Entrepreneur Work Visa application:

Points for business experience (can be awarded in only one category)

Relevant self-employment

10 years +

40

5 years +

30

3 years +

20

Other self-employment

10 years +

20

5 years +

15

3 years +

5

Relevant senior management experience

10 years +

10

5 years +

5

Points for benefit to New Zealand (can be awarded in up to two categories)

New full time employment creation

10+ new full time positions for New Zealand citizens or residents

80

5 or more new full time positions for New Zealand citizens or residents

50

3 or more new full time positions for New Zealand citizens or residents

30

2 new full time positions for New Zealand citizens or residents

20

1 new full time position for a New Zealand citizen or resident.

10

Points for approved export businesses (based on annual turnover)

$1,000,000 + turnover a year

80

$750,000 + turnover a year

60

$500,000 + turnover a year

40

$400,000 + turnover a year

30

$300,000 + turnover a year

20

$200,000 + turnover a year

10

Points for unique or new products or services to New Zealand

A credible business proposal that provides unique or new products/ services to New Zealand, or to a particular region.

30

Points for capital investment

$1,000,000 +

80

$750,000 +

60

$500,000 +

50

$400,000 +

30

$300,000 +

20

$200,000 +

10

under $200,000

0

Points for age of prospective applicant (at date of lodging application)

24 and under

15

25-29

20

30-39

20

40-49

20

50-59

10

60 and over

0

Bonus points

Business based outside Auckland as defined in BB6.1.35.

40