Results 1 to 9 of 9

Thread: Entrepreneur Work Visa Category - is it successful?

  1. #1
    Join Date
    Aug 2014
    Location
    Palmerston North
    Posts
    4

    Question Entrepreneur Work Visa Category - is it successful?

    I've tried searching the forums to see results of the Entrepreneur Work Visa Category of how its working and if there are people wishing to use it to get into New Zealand but I've not found anything useful.

    I'm also interested if there are UK websites that have businesses for sale aimed at folk that want to come to NZ under the Entrepreneur Work Visa Category.

    Of course there is a reason why I ask!

    I have a motel and we get lots of Brits in that would love to live in NZ but don't have the necessary skills or points or other reasons etc - I'm thinking this is a way in, but is it???
    I'd like to tell them there is a way but I've got to get my facts right. If they sold up, they only need $100,000 to get started. The 120 points looks straight-forward enough.

    Secondly, and don't think I'm here to sell my motel, but when I'm ready to, wouldn't it be a good option for a anyone to buy a going concern, to live in sunny Hawke's Bay, have home and income and then eventually convert to residency. Sounds good but where is the outlet for those stuck the other side of the world wishing there was a way in?

    I hope my first post doesn't upset the rules - there is so much opportunity here that the word needs spreading

  2. #2
    Join Date
    Sep 2010
    Location
    Colorado ->Richmond
    Posts
    159

    Default

    We have applied for the LTBV (now entrepreneur work visa) and received our visa after a long wait (year). We are in the process of getting our business started (brewery and restaurant) having signed a lease with our builder and are working on getting our consents. We hope to start construction in January and open in Sep/Oct 2015. I'll post more as it develops.

    Cheers,
    Mic

  3. #3
    Join Date
    Mar 2014
    Location
    new zealand
    Posts
    26

    Default

    Would not recommend going this path

  4. #4
    Join Date
    Aug 2014
    Location
    Palmerston North
    Posts
    4

    Default

    Quote Originally Posted by farmer View Post
    Would not recommend going this path
    I don't need to but was after recommendations and observations to pass onto others. Why don't you recommend it and is there an alternate suggestion?

  5. #5
    Join Date
    Dec 2015
    Location
    US
    Posts
    3

    Default

    Hi. Curious if you can give me an update. We are looking to go this route and there does not seem to be much history on the forums. Thanks Birgit

  6. #6
    Join Date
    May 2016
    Location
    New Zealand
    Posts
    12

    Default

    Hi Everyone,

    I understand the original post was already 3 years ago. But wondering if you guys could provide any update on EWV?

    Cheers

  7. #7
    Join Date
    Sep 2010
    Location
    Colorado ->Richmond
    Posts
    159

    Default

    Hello,

    We've had great success with the long term business visa and now Entrepreneur residency!! That said, we approached the program with great trepidation as it doesn't take many google searches to turn up dozens of nightmare stories of failure along this route, there used to be another forum that had a lot of very sad personal stories, and in this forum there are many that struggled. You can also read all of the appeals court decisions and find a lot of very sad situations that didn't work out. Of course, very few of those that succeed will come back to a forum like this and share (I feel like I owe it to come back as this has been such a great community).

    You need to read the requirements for this program as critical as possible. Do not expect any leniency if you don't meet the requirements or the goals in your initial business plan exactly. If you fail to achieve your requirements there is no safety net other than leaving!

    Here is what you need to do to be successful:
    1. Write a business plan with the level of detail you would include as if going after investors. You need to include every aspect that your business will require. We did a brewery and restaurant and thus we had our logo designed, menus made, beers that we were brewing named, rosters/schedules made with number of employees, employee contracts, suppliers with pricing, we found three suitable locations and described how each location would affect our business with the different associated costs, utilities, marketing plan with cost for different methods, start up equipment list (gets to be used towards your investment), start up inventory (does not get used towards your investment). Our business plan was hundreds of pages long!
    2. For your application you will need to 'condense' the information from your business plan into their application. This is important as we learned when applying for residency as they kept referring back to the statements we put on the application. My recommendation is that in your business plan you will have various scenarios such as in one location you may need 5 full time permanent employees and in another 7; put the smallest number on your application as you will be held strictly to that number as a minimum. (Don't overstate your goals as you might not be able to achieve them).
    3. Before you begin moving money (after getting your initial business /entrepreneur visa) make your life simpler by doing the following: Create your company in NZ and get an IRD number for it. Open an account in your home country in your name first and partner second (joint account) and only use this money for the funds that you will transfer into New Zealand for your business. Open a personal bank and a business bank account and have them linked. Set up an account with a foreign transfer company such as OFX.com or XE.com. Only move money intended for you business from your home country account you set up to your personal bank account and then into your business account using this method. Keep every bit of paper associated with these money transfers including the source of it in your home country. Every dollar will be highly scrutinized. For your personal living money set up another account unrelated to these first accounts so that there is no confusion or co-mingling of funds. We did not do this to the level that I'm stating here but had we, we would have saved ourselves a lot of hassle.
    4. Find an association that represents your industry or a local employment consultation company that only represents employers. The employee contracts are complicated and failure to comply comes with severe penalties in NZ! Your contracts will be super scrutinized and any error on these can subject you to fines OR failure to gain residency!!!
    5.Reach out to the community and describe what you are doing. Launch your webpage/facebook page and keep them updated. Your success depends on community acceptance. There is a pretty strong anti-immigrant feeling right now in NZ but we have had nothing but support because the community realizes we made a substantial investment, we created a lot of jobs, we donate back into the community, and we aren't trying to change NZ but rather working hard to add to the community. Attend community functions, make local friends, introduce yourself to your neighbours, stop talking about how things were wherever you came from but rather focus on what you love here.
    6. Document every thing you do. Start a journal or send yourself a daily/weekly email report. Be organized; you won't know what you will have to document/prove to immigration.
    7. Stay healthy! You will be working very hard starting up a new business in a new country, in a new community, speaking a new language or the same but with lots of little differences, living in housing that is different while very far from friends and family! You will be stressed and it is not worth it to accomplish everything but then be denied residency because you failed to take care of your health!
    8. Have fun! Even if you get denied you will be able to appeal, ask for extensions, and essentially turn your experience into a long period of your life; might as well enjoy it even if you don't succeed! Many appeals decisions were won because the applicant became such an important part of the fabric of the community that the supported the applicant to the point where the local MP decided to grant them residency. If these people weren't having fun and being happy they would never have gained the support that finally saved their residency chances.

    Hope this helps!

  8. #8
    Join Date
    Sep 2010
    Location
    Colorado ->Richmond
    Posts
    159

    Default

    Oh, and one other thing! Before deciding to do a business in NZ, take some time and tour the country. It really is amazing how diverse NZ is. You can have two communities (say Blenheim and Renwick or Nelson and Richmond) that are a stones throw from each other yet culturally very different! Get a feel for the vibe of the community. NZ has a ridiculous amount of business potential that it can make your head spin in terms of all the amazing successful businesses that could be done here but haven't been done. If I had to do it again I would have started earlier with less trepidation. Either way it has been a fun ride!

  9. #9
    Join Date
    May 2009
    Location
    Blenheim
    Posts
    1,620

    Default

    Love your enthusiastic reply ;-)!
    We still haven't made it to your place, need to make an effort when we come back in three weeks.

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •