Here’s Everything You Need to Know About Entrepreneur Visa in 2022

Since the government of New Zealand has announced the good news of offering a four-year pilot project, there has been a huge pool of beginners and professionals, looking forward to applying under the same category. This exclusively follows the announcement of the Australian government of entrepreneur visas as a part of innovative measures to boost innovation.

Whereas, the global impact visa has been brought forward to offset the loss of the nation’s gross domestic product income from the global dairy trends, which have eventually slashed the income of farmers in New Zealand, the largest dairy exporter in the world.

Basically, with the New Zealand Entrepreneur visa, it is believed that millions of applications will be received and will ultimately help the government to expand the pool of smart capital. The one and only reason would be that brilliant entrepreneurs and investors will get a chance to work and settle further in NZ. Isn’t that amazing?

Sharing more details, this visa program will be chosen through an open procurement process. The motive will be to attain New Zealand permanent residency and manage the engaging, selection, and integration of talented entrepreneurs. So, let’s take a quick look at how this visa for entrepreneurs actually works.

Customarily, the three-year work is classified into two stages. The first stage is the startup stage and the second is the balance stage. For the startup stage, if your application receives approval, you will be entitled to a 12-month work visa that will allow you to establish or buy a business in New Zealand. For the Balance stage, if you have proven the steps/initiatives to set up your business, you are acknowledged for the remaining 24 months of your visa.

REQUIREMENTS FOR THE NEW ZEALAND ENTREPRENEUR VISA: ➢ A clear-cut plan of action for your business

➢ A minimum capital investment of NZ $100,000 (not including the working capital) ➢ Clear recent history of business failure, bankruptcy, and fraud

➢ 120 points or more, for the possible success of your business, and its contribution to the NZ economy

➢ Meeting all the standard character, health, and English language requirements.

NOW HOW DOES THE ENTREPRENEUR VISA HELPS WITH THE RESIDENCY?

There are two simple ways of qualifying for permanent residency in New Zealand under this visa category.

● For 6 months - This way fast tracks the process of residency, if you have earlier invested NZ $500,000 in a business, and have created not less than three full-time positions for the citizens or residents of New Zealand.

● For 24 months - this particular way demands the applicant to have established or purchased a business successfully in New Zealand. Or else, the applicant has been self-employed in the business for at least two years, while benefiting the economy.

It is important to note that you have to meet the character, health, and English language requirements in both options. Your spouse and dependent children will also be granted work visas and student visas if they are accompanying you.

If you too are a self-employed professional or a seasoned businessman, then the Entrepreneur visa can be a great launchpad to kickstart your journey and dream of settling in New Zealand.

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