The Entrepreneur Residence Category is for applicants who have established and operated high growth and innovative businesses with export potential in New Zealand. There are two streams to this category:
Entrepreneur Residence (2 years) is for applicants who have successfully run their business in New Zealand for at least two years. Applicants do not have to be on an Entrepreneur Work Visa (or Long Term Business Visa (LTBV)) to be granted residence under the 2 year option.
Entrepreneur Residence (6 months) is for applicants who are currently on an Entrepreneur Work Visa or LTBV and who have already:
• Successfully run their business for at least six months, and
• Invested at least NZ $500,000 in the business, and
• Created at least three ongoing and permanent full time jobs for New Zealand citizens or residents in the business.
Successful applicants under the Entrepreneur Residence (6 months) stream will be granted residence with conditions requiring them to run their business for at least two years.
1. The principle applicants need to meet IELTS (A or G) 4 points or more, and Partners or dependent children of the principal applicant may pre-purchase ESOL tuition
2. Total Scores above 120 points
3. To be approved residence under the Entrepreneur Residence Category (2 years) you need to:
• have established or purchased, or made a substantial investment in a business operating in New Zealand
• have been self-employed in your business for two years, and
• demonstrate how the business is significantly benefiting New Zealand by promoting economic growth.
Your business must also comply with New Zealand employment and immigration law
4. The source of Venture capital is legal
5. Good health condition, no criminal record; and No record of bankrupt or business failure within 5 years.
6. Business/ Executive experience for more than 3 years, whether it is business or senior management. The turnover of the company is at least 1 million NZD per year. At meanwhile, employment of at least 5 full-time employees. The imcome has to match to local executive’s earnings.
7. Applicants need to manage operations based on the business plan and need to live in New Zealand for a long time.
For more information or need a free assessment, please contact New Millennium Group Ltd.