Entrepreneurship in New Zealand

The required qualifications and documents for entrepreneurship in New Zealand

Investing in New Zealand or other host countries can be done in different parts such as; buying bonds and securities, buying properties, registering a company and being an entrepreneur. It should be noted that buying a property in New Zealand will not lead the investor or his/her family to get a residence permit. However, entrepreneurship in New Zealand through registering a company can lead to getting a temporary one-year residence permit which can be renewed for two years and after three years of residence if the applicant meets all of the conditions and earns the required points, he/she can get a permanent residence permit.

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Topics reviewed in this article:

• Checking the standards and the indicators which will affect investment in New Zealand
• Types of Entrepreneurship in New Zealand
• How to start a business in New Zealand?
• Getting a residence permit in New Zealand through registering a company

Checking the standards and the indicators which will affect investment in New Zealand

All of the necessary standards and indicators must be carefully checked and analyzed in order to make an investment secure. In addition to checking these indicators, the general conditions of the destination country must be carefully checked, whether politically, economically or socially. We will analyze some of the main indicators in this article.

• Corruption control

The range of this index is from negative (minimum) to positive two and a half (maximum). The trend of the corruption control and the performance of the government of New Zealand has always been positive and upward.

• Unemployment rate in Finland

The unemployment rate in New Zealand was the lowest possible last year and it reached 4.01.

• The risk of property confiscation

The range of this index is from one (lowest) to seven (highest risk). New Zealand has the lowest possible risk.

• Inflation rate in Finland

Inflation below 3% is actually the ideal figure for this important economic indicator, which in New Zealand it is below 3%.

• Gross domestic product (GDP)

The rate and statistics of GDP and its upward trend in a country are directly related to economic growth and development in the host country (host country is the country you invest in). New Zealand’s GDP rate has been on the rise, reaching more than 38,000 in 2018.

Types of Entrepreneurship in New Zealand

Entrepreneurship in New Zealand is based on a scoring system. If the investor can earn the necessary points it will be possible for him/her to first get a one-year residence permit and then a two-year residence permit. At the end of these three years, it will be possible for him/her to apply for a permanent residence permit. The least and the minimum amount of money to invest through entrepreneurship in New Zealand is one hundred thousand New Zealand dollars. In addition to these two conditions, getting/earning 120 points, presenting a high quality business plan, work experience which is relevant to the business plan and having an acceptable level of English language (being fluent).

How to start a business in New Zealand?

There are some steps that you can take to start a business, and secure the investment and entrepreneurship in New Zealand;

• Make sure that your idea is feasible and doable, and in order to do so you need to have a strong business plan that fills up the gap in this country’s economy, politics, culture and society.
• Choose an appropriate brand name
• Select the appropriate business structure
• Going through government process and getting an approval from the relevant government organizations
• Get the New Zealand Business Number (NZBN)
• Company registration
• Registering the trademarks

Getting a residence permit in New Zealand through registering a company

As a matter of fact, registering a company is the direct path to entrepreneurship in New Zealand. Company registration can be done in two ways. In the first way of entrepreneurship in New Zealand, the applicant must invest at least three million New Zealand dollars. In addition to this, he / she must be able to provide work experience which is relevant to the business plan (at least three years), and also being under the age of sixty-five and having the minimum level of language (IELTS 4) are among the mandatory requirements. In this method, if the applicant can get a license to register the company and set it up; the reunification of his/her spouse and children under the age of eighteen will be possible. It should be noted that in this case, the person must be present in this country for a sufficient amount of time (at least one hundred and fifty days each year). The second way requires the applicant to provide a capital over 10 million New Zealand dollars to the government of this country. This amount must be in circulation in the investor company within three years in this country.