IMMIGRATION TO NEW ZEALAND ENTREPRENEUR WORK VISA CATEGORY This is a temporary entry category which provides for those wishing to establish a business in New Zealand. Your eligibility is assessed on a points system which allows the grant of Work Visas with the prospect of applying for Residence if your business operates successfully and fulfills the projections contained in a detailed Business Plan. YOUR VISAS Your Entrepreneur Work Visa will initially be granted for a period up to 12 months ( Entrepreneur Start-Up ). This will allow you (and your family) to travel to and from New Zealand for the purpose of establishing a business. A Work Visa may also be granted to your spouse, and Visitor and/or Student visas to your dependent children. Such visas will be subject to any restrictions applying to the principal visa. Once the business has been established this may be extended for the remaining 24 months of a 3 year total term. The visa may be extended once only, for an additional three years. However, this will require a new Business Plan, and Immigration will look closely at the reasons why the business you set up originally did not allow you to apply for Residence the first time around. A successful Entrepreneur Work Visa holder (and their family) may apply for Residence under the Entrepreneur category after 2 years. The standard requirements apply to health and character when applying for any visa. When you are ready to apply for Residence, you as the principal applicant must meet the minimum standard of English (IELTS 4.0). Anyone else in your family aged 16 years or over who does not meet the minimum standard of English may pre purchase English language tuition to a value determined by the level obtained in the IELTS test. THE ENTREPRENEUR WORK VISA HAS THE FOLLOWING REQUIREMENTS: You cannot apply unless you can show that: 1. You can invest at least NZ$100,000 capital in the business which you want to set up; and 2. You score at least 120 in the points system set out below. Points can be claimed as set out in the following table: [taken from the published Immigration New Zealand Points Scale]
2 Business Experience (can be awarded in only 1 of the 3 categories) Relevant self employment Benefit to New Zealand (can be awarded in up to 2 categories) New full time employment creation 10 years + 40 5 years + 30 3 years + 20 Other self employment 10 years + 20 5 years + 15 10+ new full time positions for New Zealand citizens or residents 5 or more new full time positions for New Zealand citizens or residents 3 or more new full time positions for New Zealand citizens or residents 2 new full time positions for New Zealand citizens or residents 80 50 30 20 3 years + 5 Relevant senior management experience 10 years + 10 5 years + 5 1 new full time position for a New Zealand citizen or resident. Points for approved export businesses (based on annual turnover) 10 $1,000,000 + turnover a year 80 $750,000 + turnover a year 60 Points for your Age 24 and under 15 25-29 20 30-39 20 40-49 20 50-59 10 60 and over 0 $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 Bonus points (can be awarded in only 1 category) Points for capital investment (excluding Working capital) Regional bonus points Business based outside Auckland as defined in BB6.1.35. Market research and/or local agency support Has obtained local council or Economic Development Agency formal support or chamber of commerce support (new businesses only); or Has obtained formal support from New Zealand Trade and Enterprise, or MBIE 20 20 $1,000,000 + 80 $750,000 + 60 $500,000 + 50 $400,000 + 30 $300,000 + 20 $200,000 + 10 under $200,000 0
3 POINTS TO NOTE 1. Working Capital : Immigration defines this as funds or assets which are tied to assets used in the on-going maintenance or day-to-day running of a business. For example, money in a business bank account to pay for rent and salaries is working capital. Working capital CANNOT count toward the capital which you claim points for in the application. 2. Benefit to New Zealand: The points awarded under this heading clearly indicates that New Zealand wishes to attract businesses which: Create employment for New Zealanders; Generate export earnings; Provides an innovative product or service to the New Zealand market. THE BUSINESS PLAN: Because of the complexity and volume of material required to provide an acceptable business plan, we utilise the services of an experienced company specialising in the preparation of business plans for presentation to Government agencies. Fees for the Business Plan are currently NZ$3,000.00 but our specialist may reserve the right to charge a different fee depending on the complexity of the case. The Business Plan will be assessed on the credibility of information provided, your knowledge of the proposed business and the New Zealand business environment. If we decide that, because of specific aspects of the financials for your proposed business, a chartered accountant should be appointed, any such accountancy fees would be additional. TIMING: An important component of your Business Plan is research into your market and the New Zealand business environment. This research will take some time as it will to obtain the required information and documentation on which your accountant can develop your Business Plan. Once all material is made available to us, your Business Plan has been prepared and your application lodged with Immigration New Zealand, their processing time could be in excess of six months. SERVICES PROVIDED: As your professional immigration adviser, our role is to ensure that all criteria are met and that all documentation provided in support of your application is checked in detail to be certain that it is in the form required by Immigration New Zealand (INZ) and that it assists your application and does not create confusion or difficulties. We keep in contact with INZ to ensure that each application is processed promptly and in a manner that is fair and in accord with natural justice. Our work includes: Advice on the process, the documentation required, business type, business structure, market considerations, possible complications, anticipated timing Liaison with industry participants and specialist advisers if appropriate Assistance with the preparation of the Business Plan
4 Advice on preparation of your Entrepreneur Visa application Checking all documentation prior to lodgment Specific submissions to address the merits of your particular business case Lodgment of your application and liaison with Immigration New Zealand. ADDITIONAL SERVICES AVAILABLE AS REQUIRED: 1. Register company 2. Open bank accounts 3. Arrange for funds transfer to NZ through NZForex 4. Introduction to accountants, commercial lawyers and other professional services 5. Introduction to NZ Franchise Association. Free copy of Franchise Magazine to those who visit our offices 6. Advise on feasibility of types of businesses, which business types we consider are unlikely to be successful in an Entrepreneur Visa application 7. Advise on places to operate business and places to live 8. Advise on schools 9. Provide other immigration advice and business advice as requested For Residence application 1. Review operation of business prior to commencing Residence process 2. Advise on any areas where the business does or does not meet Policy criteria 3. Advise on preparation of Residence application 4. Prepare and submit Residence application FEES: Fees and charges in NZ Dollars; (1 NZ$ approx. = 0.8 US$ or 0.6 Euro). Our fees and Business Plan fees are quoted exclusive of Goods and Services Tax (GST). GST of 15.0% must be added to these fees when the applicant is in New Zealand. Your accountant should be able to advise if our fees and the GST may be claimed as a business expense. New Zealand Immigration Service fees of approx. $3200.00 depending on exchange rate. Business Plan preparation $3000.00 (outsourced to our specialist). Our professional fee is $17,500.00 which is made up of: $13,000.00 for main Entrepreneur Start-Up application for 12 month Work Visa $4500.00 for remaining 24 month Work Visa Payment of fees plus disbursements (such as Business Plan fees) is as follows: $500.00 non-refundable administration fee payable with your instructions to proceed.
5 $4500.00 fee with signed Terms of Engagement Business Plan deposit of $2587.50. $4000.00 once you approve the completed Business Plan Balance of Business Plan fee $862.50 $4000.00 prior to lodging the Entrepreneur Start-Up application. Government visa fee of $3200.00 $4500.00 plus final disbursements [if any] payable when you provide evidence to obtain the remaining 24 month Work Visa The above fees are for a single visa applicant. Work, Visitor and Student Visa fees for dependent family members (if required) are additional at approx. $750 per person plus government visa fees. This fees quotation remains firm for three months and will be confirmed in our Terms of Engagement. NEXT STEPS: We recognise that immigration is a challenging and expensive process and therefore, we will not lodge an application that we consider will not be successful. Please also note that the final payment of our fee is only payable if your initial application for LTBV has been successful. Thank you for your interest. So that we may proceed from here, please complete and return the confirmation page below. When we receive it, we will prepare our comprehensive Terms of Engagement and Terms and Conditions for the service we provide to you. We trust that the above is sufficient for your response. We look forward to receiving your early reply and to assisting you in your desire to establish your business in New Zealand. Yours sincerely Simon Laurent PRINCIPAL Bill Milnes SENIOR CONSULTANT LAURENT LAW BARRISTERS & SOLICITORS
6 To: LAURENTLAW BARRISTERS & SOLICITORS 1 st Floor, Target Building 93 Dominion Rd Mt Eden Auckland 1024 NEW ZEALAND I confirm that I wish you to represent me in my application for a Long-Term Business Visa under the Business Immigration programme. The people who will be included in the application will be Family Name Given Names Age Please send me your Terms of Engagement. I understand that upon signing it I will be invoiced for your initial administration fee of NZ$500.00 (or NZ$575.00 including GST if I am in New Zealand) and you will provide further instructions after this fee is paid. Signed: Date: / / 20 Full name Tel:.. Address: Fax:.. email:..