PRESENTATION ON THE NEW ENTREPRENEUR WORK VISA CATEGORY NZAMI - - PowerPoint PPT Presentation

PRESENTATION ON THE NEW ENTREPRENEUR WORK VISA CATEGORY

NZAMI webinar presentation by Marcus Beveridge, Bradley So and Wiebe Herder

Topics

• Introduction
• Key Changes
• Practical Tips
• Case Study
• Comments and discussion
• Potential Issues
• Q&A

OVERVIEW

WHY CHANGE THE INSTRUCTION?

• Old
• Ambiguous
• Changes in Economic/Political environment
• Low quality application
• Work to Residence undermined
• Last resort to maintain lawful status

INTRODUCTION

• POINT SYSTEM
• 120 points but not an EOI
• Easier to assess before applying
• Priority for more points
• INVESTMENT CAPITAL AND DISCRETION
• $100,000.00 excluding working capital
• Limited Discretion – Manager

TEST TO WAIVE CAPITAL REQUIREMENT

• Business in Science/ICT/high value export; AND
• Demonstrate:
• High level of innovation OR Credible short term high growth

prospect

KEY CHANGES

• BENEFIT TO NEW ZEALAND
• Employment – at least 1 new full time position resident/citizen

Definition – new full time and ongoing jobs

• 30 hours
• Excluding contract or casual roles
• Two part timers = 1 full-time
• Export AND minimum turnover NZD $200,000
• Unique or new products or services NZ

“Unique” definition

• Only product/services provided in New Zealand; or
• Not available elsewhere in NZ or the region of NZ of the business

New Product or services definition

• Significant enhancement of existing business in NZ or the region of the proposed

business; or

• Promote NZ’s economic growth within the 3 year validity

KEY CHANGES

PRACTICAL TIPS

• Assess
• Identify
• Plan
• Execute
• Assessing a business plan requires a strategic

approach

• Set of questions and issues to help identify the

issue

• TYPE OF BUSINESS
• Existing Business
• Supporting Documents
• Benefit to NZ - Employment
• Creating a New Business
• CAPITAL REQUIREMENT
• Existing Business
• Share Acquisition
• Asset Acquisition
• LOCATION
• Forecast
• Market Research

PROJECT MANAGE BUSINESSS PLAN

CASE STUDY 1

SUMMARY OF FACTS

• Applicant approaches you to apply under the Long

Term Business Visa in November 2013

• The proposed business was to:
• Purchase 50% of an existing business that’s been
• perating for 5 years.
• The business is a kimchi manufacturing company

with a turn-over of $800,000.00 per annum and 2 full-time staff in addition to the owner

• The business is a Limited Liability Company with 1

Director and 1 Shareholder

• Accountant has valued 50% of the shares at NZD

$100,000.00

• The applicant owned a restaurant in Korea for 3

years

• The applicant could not submit the application before

20 December 2013. She will now need to apply under the new Entrepreneur Work Visa. QUESTION

• Can the applicant qualify under the new Entrepreneur

Category?

• What is our recommendation?