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Entrepreneur Work Visa Residencies Plan of New Zealand (Oceania)
Entrepreneur Work Visa
You must be able to make a NZ$100,000 capital investment. The minimum investment amount required may be waived if your business is in science, ICT or another high-value export sector, or your business shows a high level of innovation or short-term growth prospects.
Your spouse and dependent children may be included in the application.
Once the visa application is approved, you will be required to start your business and make the capital investment within the first 12 months.
This visa is valid for 12 months in the start-up stage of your business, extendable another 24 months once you provide proof that you’ve set-up your business as detailed in the business plan.
After 3 years you may be eligible for an Entrepreneur Resident Visa, which is a Permanent Residence permit. This permit will allow you to live and work indefinitely in New Zealand. To be granted permanent residency you must have met the conditions of the Work visa, still be doing business in the country, have created jobs and demonstrated commitment to living in New Zealand.
After 5 years of residency (temporary or permanent), you may be eligible for citizenship. You may be required to show ties to the country, such as a permanent home, attend an interview and have knowledge of New Zealand’s history, culture and values.
Requirements
- Evidence that you have the funds and/or assets to make the capital investment outlined in your business plan and you have enough money to support yourself and any family who are coming to New Zealand with you, on top of your capital investment.
- Evidence that the funds and/or assets you intend to use for your capital investment are owned by you and earned lawfully.
- Be awarded at least 120 points on New Zealand’s Immigration point scale. Points are determined by age, capital investment, business experience, benefits of the business to New Zealand and the location of the business.
- Business Plan, detailing: the industry, the location, evidence of any claims made about points scale, evidence of enough funds to finance the business, detail whether starting a new business or purchasing a new one, financial forecasts, business track record, environment and market and information explaining how your business will meet at least one of the business characteristics identified in the Entrepreneur Work policy objective.
- If purchasing an existing business, evidence of the value and profitability of the business, past performance and trends, audited accounts for the last 2 years, any sale and purchase agreement, an independent valuation of the business or other evidence that supports its value, profit and loss statements for at least the last 2 years and information about the current employment levels of the business.
- Have a chest x-ray and a medical examination as proof of your good health.
- Good character, not pose a security risk and not threaten New Zealand’s international reputation.
- Fit and proper person: all businesses you have influence over must have complied with all immigration, employment and taxation laws. You must have never been investigated by the Serious Fraud Office or the New Zealand police for any offense resulting from business dealings, you must have no convictions for an offense involving dishonesty and have never been involved in business fraud or financial impropriety.
- Evidence of an acceptable English language test result or evidence you have an English-speaking background, or evidence you're a competent user of English for other reasons. Dependents must also fulfill this requirement.
- Do not apply for or accept welfare assistance while in New Zealand.
Restricted Nationalities
No nationality is officially restricted
dual citizenship
Dual citizenship is recognized in New Zealand. You are not required to renounce your previous nationality to become a citizen of New Zealand.
Documents Required
- Original and photocopy of passport
- Medical Certificate
- Original Police Clearance Certificate
- Evidence of language skills
- Original or Certified copy of Birth Certificate (if applicable)
- Original or Certified copy of Marriage Certificate (if applicable)
- Bank Statement
- Proof of assets
- Business Plan
- Two passport-size photos
- dual citizenship Yes
- Family members included Yes
- land ownership Yes
- Physical residence required No
- Personal visit required No
- Language skills required Yes
- Interview required No
- Investment Single NZ$100,000
- Investment Family 4 NZ$100,000
- Minimum annual income -
- Time to citizenship 60
- Time to permanent residency 36
- Visa-free countries 172
- Financing available No
New Zealand
New Zealand is a country of Oceania and a member of the Commonwealth. It is located in the southwest of the Pacific Ocean and formed by two large islands: the North Island and South Island, along with many other smaller islands, standing out among them Stewart Island and the Chatham Islands. The Kingdom of New Zealand also includes the self-governing autonomous states of the Cook Islands, Niue, and Tokelau. It has a population of over 4.5 million inhabitants. The capital is Wellington, but its most populated city is Auckland, both of which are located on the North Island. Its official languages are English, Māori and the sign language of New Zealand. Its official currency is the New Zealand Dollar, which is one of the ten largest global transaction currencies.
- National Flag of:New Zealand
- Currency:NZD
- Area Code:64
- Capital:Wellington
- Continent:Oceania
- Native Languages:English,
- Population:4,252,277
BENIFITS
With your new passport from New Zealand you'll be able to access 172 countries visa free
citizenship benefits Become a citizen of a Commonwealth country Visa-free or Visa on arrival to 172 countries including United States Schengen Area United Kingdom Get one of the most valuable passport worldwide Passport with optimal reputation Visa-free access to the United States The right to live and work in New Zealand at all times Access to educational and healthcare benefits permanent residency benefits The right to live and work in New Zealand without any time limit Be eventually eligible for citizenship Access to healthcare and education system temporary residency benefits Set up a profitable business Peaceful democratic and politically stable country Extremely safe modern and livable country High quality of life Be eligible for permanent residency in a short period of time Low crime rate country English speaking country Territorial tax systemFEES
| ITEM | AMOUNT |
|---|---|
| processing fees main applicant | NZ$3 |
| 378 | |
| total fees main applicant | NZ$3 |
| 378 |
TAXES
Individuals who have a permanent place of abode in New Zealand or spend at least 183 days in any 12-month period are considered tax residents.
Tax residents are taxed on their worldwide income, while non-residents are subject to tax on their NZ-source income. Tax exemptions may apply for certain income accrued in NZ by non-residents.
New residents may be granted a four-year tax exemption on income accrued abroad.
Personal income is taxed at progressive rates up to 33%.
There is no capital gains tax, however certain gains derived from the sale of real estate may be included in the personal income tax base. Gains on financial instruments may be treated as ordinary income and taxed on an accrual basis. Rental income is taxed at standard rates.
Dividends are treated as ordinary income, but a tax credit for underlying tax paid may be available. Income derived from certain collective investment vehicles is taxed at progressive rates of 10.5%, 17.5%, and 28%.
New Zealand has enacted extensive controlled foreign company rules. The rules apply when five or fewer New Zealand residents directly or indirectly control more than 50% of a foreign company, or when a single New Zealand resident directly or indirectly controls 40%. Passive income of a CFC is attributable.
Apart from the CFC rules, there is a Foreign Investment Fund regime. This regime applies if the investor does not have a sufficient interest in a foreign entity for it to be considered a CFC. Under this regime passive income derived from foreign investments and retained in foreign entities may be taxable if certain conditions are met.
Local authorities levy real property taxes on the official value of the property. There are no transfer, inheritance and net worth taxes.
Goods and services tax is levied at a 15% rate, although certain supplies are tax-exempt.
Regarding corporate taxation, resident entities are subject to an income tax of 28% on their worldwide income. If you want to learn more about New Zealand’s corporate taxation, legal framework and tax treaties, check out incorporations.io/new-zealand.
| TAX ITEM | DESCRIPTION |
|---|---|
| Property tax | Yes |
| Transfer tax | No |
| Inheritance tax | No |
| Net worth tax | No |
| CFC law | Yes |
| Tax residency days | 183 |
| Personal income tax rate | 33% |
| Capital Gains tax rate | 33% |
| Investment income tax rate | 33% |
| Territorial taxation | Yes |
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