New Zealand Attract Techies with Entrepreneur Visa
The government of New Zealand recently announced a new visa, the Global Impact Visa (GIVs) which is introduced as a 4-year pilot project; to begin later this year, according to Reuters in their April end report. This follows Australia’s recent announcement of its “entrepreneur visa” which was announced in December as part of the measures meant to boost innovation.
The Global Impact Visa was specifically designed to offset whatever loss the country has incurred in the Gross Domestic Income as a result of the worldwide low dairy prices which has resultantly caused a slash in the incomes of farmers in New Zealand which happens to be the world largest dairy exporter.
The Immigration Minister of New Zealand, Michael Woodhouse told Reuters that the sole aim of the GIVs is to “help expand the pool of smart capital by attracting individual entrepreneurs and investors to migrate to and live in New Zealand”
“Now we are staying true and delivering on this commitment and hope to attract highly talented, young, successful and well-connected business people and entrepreneurs who are just starting out their entrepreneurial career are have the capacity to start up their ventures in New Zealand”
“GIVs are expected to help actualize the growth needed in the business sector as well as help lift innovation in New Zealand. It is also expected to help expand the pool of smart capital by attracting individual entrepreneurs and investors to come live in New Zealand” He explained.
The Immigration Minister also pointed out that new jobs through new venture establishment and attraction of smart capital access to global networks are some of the benefits that will come with successful implementation of the GIVs.
According to another press release by the Kiwi Government, there will be a selection of the private sector partner for the visa programme using an open procurement process, who will help manage the attraction, selection process as well as integration of the migrant entrepreneurs into New Zealand. This open procurement process is to begin next month.
How the New Zealand Entrepreneurship Work Visa Works
This visa, which is a 3-year work visa, is structured in 2 stages:
- Start-Up Stage: Those whose applications are approved will be given an initial 12-month work visa which enables them to buy or establish a business in New Zealand.
- Balance Stage: The moment it has been proven that the applicant has taken steps to establish a business, the remaining 24 months of the visa will be granted.
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