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Open a business in New Zealand as a foreigner

Updated on Tuesday 10th August 2021

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Open a business in New Zealand as a foreigner.jpgStarting a business in New Zealand as a foreigner is a rewarding experience in a business-friendly location that allowed for multiple options and growth opportunities.
 
Investors who are considering doing investing the NZ have several routes, including buying a business or commercial property, buying shares in an existing local company or starting a new business, the investment route covered in this article.
 
One of the first steps foreign nationals need to take care of is determine the type of visa they will be using to remain in the country as an entrepreneur, followed by choosing the business structure and starting the actual incorporation process. Read below to find out more about the options and the steps for starting a business in New Zealand as a foreigner.
 

What are the visa options for foreign nationals who start a NZ business?

 
There are a number of types of visas that allow foreign nationals to enter the country to start a business, run their company or choose to live in the country. The following categories are suited for starting a business in New Zealand as a foreigner:
 
  • - Business visitor visa: allows the holder to visit the country for business purposes benefit from a length of stay for up to 3 months;
  • - Entrepreneur work visa: for foreign business professionals who wish to buy or open a company; the applicant must score a minimum of 120 points on the points scale and needs to make a capital investment of at least 100,000 NZ$; family members can accompany the holder of this visa; our team can give you more details;
  • - Entrepreneur resident visa: suitable for foreign nationals who are already in the country under a visa that allows self-employment and wish to remain permanently to continue to run their business here;
  • - Global impact work visa: applicable to innovative entrepreneurs or investors who have been selected by the Edmund Hillary Fellowship and also have 36,000 NZ$ maintenance funds;
  • - Global impact permanent residence visa: for owners of the Global impact visa (held for at least 30 months) who wish to remain in the country as permanent residents; the same maintenance fund applies, along with other criteria;
  • - Other options: entrepreneurs who are willing to invest a minimum of 3 million NZ$ in stocks, bonds, or other investments (as opposed to incorporating a new company) can apply for the investor visa.
 
Our team of New Zealand company formation experts can help you with more information about each type of visa. Reach out to us before starting the application process to find out more and apply for the one that suits your needs.
 

What are the steps for company formation in New Zealand?

 
Starting a business in New Zealand as a foreigner is subject to the same steps as those applicable to residents. Our team highlight some of the most important ones below:
 
  1. Choose the business structure: these are the sole trader, the partnership of the limited liability company;
  2. Choose the company name: the name needs to be unique; a preliminary search is performed in order to ensure that the chosen name is not already registered and protected;
  3. Register the business: prepare the incorporation documents and complete registration with the Companies Office with the help of our agents who specialize in company formation in New Zealand;
  4. Others: open a bank account, obtain any needed special permits and licenses and make any other, final registrations, as per the business field in which the company will activate.
 

What are the main industries and areas that present opportunities for investors?

 
New Zealand can be an excellent location to open a company. Starting a business in New Zealand as a foreigner is not only easy and allows for full foreign ownership, the country also offers stability and security to investors.
 
Some of the main business sectors include food and beverage, tech and innovation, tourism, renewable energy and transportation. Business opportunities depend on the chosen region or city and investors can benefit from finding out more about the regional advantages before setting up the business.
 
New Zealand constantly scores well in international ease of doing business reports, it is one of the top counties in the world in terms of business friendliness and has a good taxation regime, with no payroll tax or social security tax.
 
For more information, advice and expert assistance on starting a business in New Zealand as a foreigner, please do not hesitate to connect with us. Our team is able to answer any questions and we can help you each step of the way as you arrive in the country and start the rewarding journey of running your own business in New Zealand.

 

Meet us in Wellington


Call us now at +44 203 287 0408  to set up an appointment with our business consultants in Wellington, New Zealand. Alternatively you can incorporate your company without traveling to New Zealand.

As a BridgeWest client, you will benefit from the joint expertize of local lawyers and international consultants. Together we will be able to offer you the specialized help you require for your business start-up in New Zealand.

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