New Zealand Startup Visa: Eligibility, Points & How to Apply

The New Zealand startup visa, officially known as the Entrepreneur Work Visa, offers a golden opportunity for aspiring business owners to establish or purchase a business in New Zealand. Designed to attract global talent, this visa provides a pathway for entrepreneurs to contribute to the local economy while enjoying a high quality of life. 

In this guide, we’ll cover everything you need to know about the visa, from eligibility requirements to application tips, helping you turn your business dreams into reality.

What is the New Zealand Entrepreneur Work Visa?

The New Zealand Entrepreneur Work Visa, often referred to as the New Zealand Startup Visa, allows startup founders and entrepreneurs to establish or purchase a business in New Zealand. This visa is perfect for those aiming to build a thriving business in a stable and innovation-friendly environment.

Purpose of the Visa

The Entrepreneur Work Visa is specifically designed for individuals who want to:

• Set up a new business in New Zealand.
• Purchase an existing business in New Zealand.
• Actively work within their own business to contribute to the country’s economy.

🗝️Key Features of the Visa

1. Length of Stay:
   • Up to 3 years in total.
   • Divided into two stages:
     • Startup stage: 12 months to establish your business.
     • Balance stage: 24 months after proving your business setup progress.
2. Costs:
   • Starting from NZD $12,380, covering the application process and associated fees.
3. Processing Time:
   • 80% of applications are processed within 10 months, ensuring you have sufficient time to plan your relocation and business setup.
4. Inclusion of Family Members:

Your application can include your partner and dependent children aged 19 and under, making it easier for families to relocate together.

📌 Must Read: What is a Startup Visa? 👈

Eligibility Criteria for the New Zealand Startup Visa

To qualify for the New Zealand Entrepreneur Work Visa, you need to meet specific criteria. These requirements are designed to ensure that your business can positively impact New Zealand’s economy while allowing you to succeed as an entrepreneur.

1. Capital Investment

• Minimum Requirement: You must have at least NZD $100,000 in available funds to invest in your business.
• Waiver Option:
  • The capital investment requirement may be waived if your business operates in a high-value export industry (e.g., science or ICT) or shows significant innovation and growth potential.
  • Businesses qualifying for a waiver typically aim to create jobs or contribute substantial export revenue.

2. Points System

To apply, you need to score at least 120 points on the Entrepreneur Work Visa points scale. Points are awarded based on the following factors:

• Age: Younger applicants generally earn more points.
• Capital Investment: Higher investments result in more points.
• Business Experience: Points increase with your years of relevant business experience.
• Business Location: Setting up a business outside Auckland can earn additional points.
• Benefits to New Zealand: Creating jobs, boosting exports, or introducing unique innovations adds to your score.

3. Fit and Proper Person Requirements

Applicants must demonstrate a sound business and legal record by meeting the following conditions:

• No history of bankruptcy or business failures in the past 5 years.
• No involvement in fraud, financial wrongdoing, or other dishonest business practices.
• Compliance with all immigration, employment, and taxation laws in previous business dealings.

Why it matters❓

New Zealand prioritizes ethical entrepreneurs who can contribute to the economy without financial or legal complications.

4. English Language Proficiency

Applicants must have the ability to communicate effectively in English, proven by one of the following:

• Acceptable results from an English language test, such as IELTS or TOEFL.
• Evidence of an English-speaking background, such as education or previous residency in an English-speaking country.
• Proof of being a competent English user for professional or academic reasons.

Tip: Test results must be no older than 2 years at the time of application.

5. Health and Character Requirements

To ensure public safety and health, you’ll need:

• A medical examination and chest x-ray to confirm good health.
• Police certificates from:
  • Your country of citizenship.
  • Any other country where you’ve lived for at least 5 years since turning 17.

Important Note: Police certificates must be less than 6 months old at the time of application.

Why These Criteria Matter❓

The eligibility requirements ensure that applicants bring value to New Zealand’s economy through investment, job creation, and innovative business ideas. By meeting these criteria, you position yourself as a strong candidate for the New Zealand startup visa, paving the way for a thriving entrepreneurial journey.

Review the points calculator and evaluate how your business aligns with these factors before applying. This preparation can significantly improve your chances of success.

📌 Must Read: Ireland Startup Visa: Full Guide for Entrepreneurs 👈

Business Plan Requirements for the New Zealand Startup Visa

A strong and detailed business plan is a cornerstone of your New Zealand Entrepreneur Work Visa application. Your business plan not only reflects your goals but also shows how your venture will contribute to New Zealand’s economy.

Why a Business Plan Matters❓

Immigration New Zealand uses your business plan to assess the potential success of your business. A well-prepared plan:

• Demonstrates your understanding of the New Zealand market.
• Highlights your ability to achieve business goals.
• Provides a roadmap for your business’s economic and social contributions to New Zealand.

📌 Must Read: What is a business plan & why do we need it? 👈

🗝️Key Elements to Include

1. Business Goals and Strategies
   • Clearly outline your short-term and long-term objectives.
   • Detail your strategies to achieve these goals, including marketing, sales, and operational plans.
2. Financial Projections and Capital Investment Details
   • Provide realistic financial forecasts, including expected revenue, profits, and expenses.
   • Include details about your capital investment (minimum NZD $100,000, unless a waiver applies).
   • Break down how the funds will be allocated within your business.
3. Benefits to New Zealand
   • Explain how your business will create jobs for New Zealanders or contribute to the local workforce.
   • Highlight any plans to introduce innovative products or services.
   • Emphasize how your business will drive exports or enhance economic growth.

✅Tips for Success

• Ensure your business plan is up-to-date (no older than 3 months at the time of application).
• Focus on how your business aligns with New Zealand’s economic priorities.
• Avoid vague statements; use data and research to back up your claims.

Application Process for the New Zealand Startup Visa

Applying for the New Zealand Entrepreneur Work Visa is straightforward if you prepare well and follow the necessary steps. Here’s a simple breakdown of the process:

👣Step 1: Prepare Your Documents

Gather all the required paperwork to ensure a complete and strong application. Key documents include:

• Passport: A valid passport or certificate of identity.
• Medical Examination: Proof of good health via medical tests and a chest x-ray.
• Police Certificates: From your country of citizenship and any country where you’ve lived for at least 5 years since turning 17.
• Proof of Funds: Evidence of a minimum NZD $100,000 investment or a waiver request for eligible businesses.
• Business Plan: A detailed, up-to-date plan showcasing your business goals and benefits to New Zealand.

👣Step 2: Submit Your Application Online

• Log into New Zealand Immigration’s official portal to complete and submit your application.
• Upload all necessary documents and ensure your information is accurate and consistent.

👣Step 3: Wait for Processing

• Processing Time: 80% of applications are processed within 10 months.
• Immigration officers may request additional documents or evaluations to verify your claims, such as proof of funds or clarifications about your business plan.

✅Tips for a Successful Application

• Seek Expert Advice: If unsure, consult an immigration advisor or startup visa Consultant for guidance.
• Be Thorough: Double-check that your application is complete, as missing documents can cause delays.
• Stay Organized: Keep copies of all submitted documents for your records.
• Demonstrate Alignment: Highlight how your business aligns with New Zealand’s economic and innovation goals.

📌 Must Read: Financial Projections Tips for Entrepreneurs and Startups 👈

Key Conditions After Approval of the New Zealand Startup Visa

Congratulations on getting your New Zealand startup visa! But the journey doesn’t end here. To maintain your visa and set up a successful business in New Zealand, you’ll need to meet some key conditions.

1. Start-Up Phase Requirements

During the first 12 months, you must focus on establishing your business. Immigration New Zealand will require:

• Evidence of Capital Investment: Proof that you’ve invested the funds outlined in your business plan. Acceptable evidence includes bank statements, telegraphic transfers, or other financial records.
• Business Progress: Show tangible progress, such as:
  • Registering your business.
  • Leasing or purchasing a business site.
  • Hiring employees or acquiring the necessary equipment.
  • Filing tax records or providing GST documentation.

Tip: If you’re facing delays, you may request an extension, but you must demonstrate that progress is still achievable within a reasonable timeframe.

2. Compliance with Laws and Regulations

• Follow all New Zealand employment, taxation, and immigration laws while running your business.
• Ensure your business activities align with the details in your approved application.

3. Travel and Work Restrictions

• Work Only in the Approved Business: You are only permitted to work for the business specified in your visa application. Any changes require approval from Immigration New Zealand.
• Notify Address Changes: Keep authorities updated on your address and contact details for 5 years after your visa approval. This is essential for evaluations or further communication.

Why These Conditions Matter❓

These conditions are in place to ensure your business contributes positively to New Zealand’s economy while allowing you to stay compliant. Meeting these requirements not only helps you succeed but also opens the door to applying for permanent residency in the future.

📌 Must Read: How to Write a CV or Resume as a Startup Founder 👈

Transition to Residency with the New Zealand Startup Visa

One of the significant benefits of the New Zealand startup visa is the potential pathway to permanent residency through the Entrepreneur Residence Visa. Here’s how you can make this transition:

How to Apply for Permanent Residency

Once you’ve successfully run your business under the Entrepreneur Work Visa, you can apply for the Entrepreneur Residence Visa.

1. Eligibility Requirements:
   • Business Success: You must have run your business for at least 2 years or meet the criteria for an early residence option if you’ve operated for 6 months and made exceptional contributions (e.g., high export earnings or job creation).
   • Visa Compliance: You must meet all the conditions of your current work visa, including the investment and progress requirements.
   • Business Benefits: Your business must demonstrate economic benefits to New Zealand, such as innovation, job creation, or contributing to exports.
2. Application Process:
   • Prepare evidence of your business’s performance, including financial records, tax filings, and proof of meeting the approved business plan.
   • Apply online or through the appropriate immigration channels.
   • Wait for a decision, with processing times varying based on application complexity.

📌 Must Read: Business Models: B2B vs. B2C vs. C2C + Real-World Examples 👈

Tips for Success with the New Zealand Startup Visa

To maximize your chances of securing a visa and making the most of your entrepreneurial journey in New Zealand, keep these tips in mind:

1. Highlight Innovation and Export Potential

• Focus on science, ICT, or other high-value sectors to qualify for investment waivers.
• Show how your business introduces unique or innovative products and services to New Zealand.
• Demonstrate your plan to generate export revenue, as this aligns with New Zealand’s economic priorities.

2. Choose a Business Location Outside Auckland

• Setting up your business in regions outside Auckland can earn you extra points on the visa application.
• Regional areas often offer lower costs and untapped market opportunities, which can benefit your business.

3. Align with New Zealand’s Economic Priorities

• Ensure your business addresses local needs or gaps in the market to maximize impact.
• Create jobs for local New Zealanders to emphasize your business’s contribution to the community.

📌 Must Read: Top 9 Countries for Startup Visas: A Guide for Entrepreneurs 👈

Role of Launchroad in The Seccess of Your Startup Visa

LaunchRoad is your trusted partner for starting a business abroad. We guide you in choosing the right country, understanding visa requirements, and getting your startup off the ground. As an experienced startup visa consultant, we offer expert startup visa consultation to help you navigate the complexities of international expansion. Our team provides the support, mentorship, and resources you need to succeed in the global market.

Helpful resources:

• www.immigration.govt.nz

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