New Zealand Introducing New Entrepreneur Work Visa

By Editorial 19 December, 2013

New Zealand has announced plans for a new Entrepreneur Work Visa from March 2014, introducing a new points system and a minimum capital investment figure of NZD100,000 (USD82,600).

The country is hoping to attract migrant businesses that are innovative, and that will involve new technology, create jobs, support effective domestic competition, and have good growth prospects. Ideal candidates would also create new exportable products and services not already present in the New Zealand market.

Points will therefore be awarded based on job creation, export potential, and business experience, and extra points will be given for expanding or starting businesses outside of the Auckland region. Some business models, such as a web-based IT-start up, may be able to gain an exemption from the capital investment figure if it can be shown that such an amount is not required.

Immigration New Zealand is currently developing an online eligibility calculator to enable prospective applicants to assess their likelihood of making a successful application.

Immigration Minister Michael Woodhouse said that the changes were "an ambitious new policy" designed "to attract talented, entrepreneurial migrants who can invest in our communities, grow profitable businesses, and create jobs for New Zealanders around the country."

The new visa overhauls the current Long-Term Business Visa (LTBV) system, which will be phased out at the end of this week. Woodhouse explained that the LTBV had not been significantly changed since 1999, and had attracted a large number of low-quality applications.

Tags: Business | New Zealand | Expats | Investment | Visas And Passports | Invest | Investment |


News Archive