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Entrepeneur Visa Business Plan advice

Entrepeneur Visa Business Plan advice

Old Jul 2nd 2019, 1:17 pm
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Default Entrepeneur Visa Business Plan advice

We are looking to emmigrate to South Island to farm in the next few years bringing significantly in excess of NZ$1M to buy a farm. The application process for an Entrepeneur Visa requires that we submit a "detailed business plan" at the time of our application.

Does anyone have experience of this route? How detailed is detailed? It will be hard to be too specific (given that we must follow the plan for 3 years) until we have secured the land as that will influence what type of farming we do. Which land we can buy will be subject to OIO approval. We are trying to get our heads around the order in which things will have to be done (Visa, Buying land, OIO approval, arriving in NZ etc, etc.)

Any help would be appreciated.

Ian.
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Old Jul 3rd 2019, 7:01 am
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Default Re: Entrepeneur Visa Business Plan advice

Taken from the Immigration website:

You must provide a detailed business plan for the business you intend to operate in New Zealand.
BUSINESS PLAN REQUIREMENTS
Your business plan should be no more than 3 months old when you apply.
If you later want to make a minor change to your business plan, you’ll need to submit a request to us for our approval.
We won’t be able to approve your application, if the purpose of your business is to help people who aren’t New Zealanders enter New Zealand.

If you’re applying for an Entrepreneur Work visa, you’ll need to provide a detailed business plan that meets our requirements.

What your business plan must include:

Your business plan must include the following information about the business you will operate in New Zealand:
  • the industry
  • the location
  • evidence that supports any claims you made about your business in the points scale
  • evidence you have enough money to finance your business, and support any family who come to New Zealand with you
  • details about whether you’ll be setting up a new business or buying an existing one
  • evidence you have business experience relevant to the proposed business
  • details of any occupational registration you have, if it’s needed to run your business in New Zealand
  • financial forecasts
  • information about your business track record and character, including details of any past bankruptcy, business failure, fraud or financial wrongdoing
  • information about the business environment and market you’ll be working in, as you understand it
  • information explaining how your business will meet at least one of the business characteristics identified in the Entrepreneur Work policy objective.
The objective of the Entrepreneur Work policy is to contribute to economic growth by enabling experienced business people to grow or establish high-growth and innovative businesses with export potential.

Purchasing an existing business

If you’re buying an existing business, you’ll also need to include:
  • evidence of the value and profitability of the business
  • comments on the business’ past performance and trends
  • independently audited accounts for the business 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 immediately before applying for your visa
  • information about the current employment levels of the business.
Our ‘Entrepreneur Work Visa Guide’ includes helpful suggestions about how to set out your business plan
download Entrepreneur Work Visa Guide (INZ 1221)PDF 284KB

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Old Jul 5th 2019, 10:33 am
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Default Re: Entrepeneur Visa Business Plan advice

Originally Posted by escapedtonz View Post
Taken from the Immigration website:

You must provide a detailed business plan for the business you intend to operate in New Zealand.
BUSINESS PLAN REQUIREMENTS
Your business plan should be no more than 3 months old when you apply.
If you later want to make a minor change to your business plan, you’ll need to submit a request to us for our approval.
We won’t be able to approve your application, if the purpose of your business is to help people who aren’t New Zealanders enter New Zealand.

If you’re applying for an Entrepreneur Work visa, you’ll need to provide a detailed business plan that meets our requirements.

What your business plan must include:

Your business plan must include the following information about the business you will operate in New Zealand:
  • the industry
  • the location
  • evidence that supports any claims you made about your business in the points scale
  • evidence you have enough money to finance your business, and support any family who come to New Zealand with you
  • details about whether you’ll be setting up a new business or buying an existing one
  • evidence you have business experience relevant to the proposed business
  • details of any occupational registration you have, if it’s needed to run your business in New Zealand
  • financial forecasts
  • information about your business track record and character, including details of any past bankruptcy, business failure, fraud or financial wrongdoing
  • information about the business environment and market you’ll be working in, as you understand it
  • information explaining how your business will meet at least one of the business characteristics identified in the Entrepreneur Work policy objective.
The objective of the Entrepreneur Work policy is to contribute to economic growth by enabling experienced business people to grow or establish high-growth and innovative businesses with export potential.

Purchasing an existing business

If you’re buying an existing business, you’ll also need to include:
  • evidence of the value and profitability of the business
  • comments on the business’ past performance and trends
  • independently audited accounts for the business 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 immediately before applying for your visa
  • information about the current employment levels of the business.
Our ‘Entrepreneur Work Visa Guide’ includes helpful suggestions about how to set out your business plan
download Entrepreneur Work Visa Guide (INZ 1221)PDF 284KB
Thanks, I had not seen that. It helps with some answers.

From that it would appear that we have to know where we will be farming before we apply for the Visa. That will be awkward as we can only buy land with OIO approval first, otherwise our business plan could say we will be farming in, say, South Otago but the OIO refuse to authorise our purchase of the farm there.

I will approach the London NZ Embassy for advice.
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