Requirements for a permanent resident visa// 4. Business in New Zealand

[emi257]

Dear Group Members,

Can someone share some details about the criteria # 4 to get PRV.

Below are the details from Official Immigration Website:

You have obtained residence under any category and have successfully established or purchased a business in New Zealand at least 12 months ago that is trading successfully and benefiting New Zealand in some way. You must either:
have established or purchased the business operating in New Zealand, or
own a minimum 25 percent shareholding in an existing business in New Zealand.
With your application you will have to provide a set of your latest business accounts certified by a New Zealand chartered accountant and a statement from them confirming that in their view your business is a ‘going concern’.

I have following Queries,

1. There is nothing mentioned about the stay, how many days does one requires if we lie in this category.
2. Nothing mentioned about how much the investment should be. What would be the value of 25 percent in a shareholding business.
3. Nothing mentioned what kind of business one can started or operate. Is there any list of businesses.

Also please let me know if someone have ever used this channel to get the PR.

thanks,

[JandM]

You need to start from here http://www.immigration.govt.nz/migrant/stream/invest/, to see about the kind of visa you might get FIRST, to help you on your way to Residence.

[emi257]

You need to start from here http://www.immigration.govt.nz/migrant/stream/invest/, to see about the kind of visa you might get FIRST, to help you on your way to Residence.

Hi JandM,

I already have a 2 year resident Visa and i want to go for permanent visa. What i understand from the link is that this information is for people who dont know have a visa at first.

[JandM]

Sorry I misunderstood.

Have a look here http://www.enz.org/forum/showthread.php?t=40660 at RV2.5.15.

1. There is no requirement for a specific number of days spent in the country under this category.
2. It doesn't matter what the monetary value of the existing business you bought into is, as long as you demonstrably bought the right to control 1/4 of it.
3. The business can be ANYTHING, but it has to be a going concern, and benefiting New Zealand in some way (which is often taken as proved by its giving employment to two or more people, apart from yourself).

[ChrisMwn]

Sorry I misunderstood.

Have a look here http://www.enz.org/forum/showthread.php?t=40660 at RV2.5.15.

1. There is no requirement for a specific number of days spent in the country under this category.
2. It doesn't matter what the monetary value of the existing business you bought into is, as long as you demonstrably bought the right to control 1/4 of it.
3. The business can be ANYTHING, but it has to be a going concern, and benefiting New Zealand in some way (which is often taken as proved by its giving employment to two or more people, apart from yourself).

J and M is correct. The two key points here are ownership of 25% of the business AND the certificate from the Chartered Accountant to confirm that the business is a going concern.

[emi257]

Sorry I misunderstood.

Have a look here http://www.enz.org/forum/showthread.php?t=40660 at RV2.5.15.

1. There is no requirement for a specific number of days spent in the country under this category.
2. It doesn't matter what the monetary value of the existing business you bought into is, as long as you demonstrably bought the right to control 1/4 of it.
3. The business can be ANYTHING, but it has to be a going concern, and benefiting New Zealand in some way (which is often taken as proved by its giving employment to two or more people, apart from yourself).

Thanks alot JandM, i think you missed the link. The link is redirecting me to some other thread. Please can you post again,

Can you please elaborate more on "certificate from the Chartered Accountant to confirm that the business is a going concern."

Is there any official declaration for this point on there website which reflects into immigration laws. I need to know what is there the criteria from CA to know that the business is going. I mean beside employing two ore more people what are other criteria.

thanks,

[emi257]

J and M is correct. The two key points here are ownership of 25% of the business AND the certificate from the Chartered Accountant to confirm that the business is a going concern.

Hi ChrisMwn,

Can you please elaborate more on "certificate from the Chartered Accountant to confirm that the business is a going concern."

Is there any official declaration for this point on there website which reflects into immigration laws. I need to know what is the criteria from CA to know that the business is going. I mean beside employing two ore more people what are other criteria.

As an example if i purchase or own 25% share of a restaurant would that be sufficient , since it is going and we will have employees too more than two.

Another concern is for who much time should i keep this business running. Meaning, before applying for PRV for how much long the business should have run.

[ChrisMwn]

Instruction for PRV correctly copied below:
A principal applicant has demonstrated a commitment to New Zealand if they have been approved a resident visa under any category, and have successfully established a business in New Zealand that has been trading successfully and benefiting New Zealand in some way for at least 12 months immediately preceding the date the application for a permanent resident visa was made.
Principal applicants applying for a permanent resident visa under these instructions will be considered to have successfully established a business in New Zealand if:
they have established or purchased, a business operating in New Zealand; or
they have invested in a business in New Zealand by purchasing 25% or more of the shareholding of an established business.
For the purposes of these instructions evidence that a business is trading successfully and benefiting New Zealand in some way is production of a set of the latest accounts relating to that business certified by a New Zealand chartered accountant and which confirm that in their view the business is a going concern.

So simply owning 25 % of the shares of the business and the accounts for the 12 months preceding the application for the PRV prepared by the chartered accountant and a one line statement that the business is a going concern