Mulya Finance Review: Receiving International Payments for Indian Businesses
Review of Mulya Finance for Indian businesses - a solution for accepting payments from foreign clientele. Our guide to how it works and alternatives.
New Zealand is attractive for business entrepreneurs because of its pristine climate, business-friendly environment, and quality of life. New Zealand offers two types of entrepreneur visas to establish and run a business in New Zealand. One is the New Zealand Entrepreneur Work Visa, valid for three years; the other is the New Zealand Entrepreneur Resident Visa, which allows for an indefinite stay in the country. Read on to learn more about New Zealand startup visas for global entrepreneurs and the application process.
Table of contents |
---|
New Zealand offers business-friendly immigration opportunities through its New Zealand Entrepreneur Work Visa. This visa allows global entrepreneurs to establish business entities in New Zealand. However, you must have at least $100,000 NZD to invest in the business and be able to claim 120 points on their points scale.
This visa allows you to stay for up to 12 months in the startup stage and a further 24 months by providing evidence of having set up your business. There is an option to waive the capital investment requirement if the business is in the science or ICT sectors and shows high export potential and innovation.
This visa allows a total stay of three years in New Zealand. One option for a long-term stay is that you can apply for the Entrepreneur Resident Visa, which allows an indefinite stay in New Zealand. The New Zealand Entrepreneur visa will enable you to immigrate along with your family.1
The New Zealand Startup Visa offers multiple benefits to applicants who apply for this visa compared to other visa types.2
The New Zealand Startup visa has two stages. The first stage is applying for the Entrepreneur Work Visa. After that, you can apply for the Entrepreneur Resident Visa.
The important requirements for the New Zealand Enterprise Work Visa are as follows:4
The second stage is applying for the New Zealand Enterprise Resident Visa. Here are the essential requirements for applying for the New Zealand Enterprise Resident Visa.5
You can apply for the New Zealand Entrepreneur visas from your country. The visa application and processing fees are as follows.6, 7
Type of fee | Cost |
---|---|
Entrepreneur Work Visa | $3,920 NZD |
Entrepreneur Resident Visa | $6,860 NZD |
You can apply for the New Zealand Enterprise Work Visa from home at the official website of New Zealand Immigration Services. Here is a summary of the steps in the application process:8
Around 80% of Entrepreneur Work visas are granted within 12 months. The visa is initially granted for one year. As the expiration date approaches, the immigration authorities will contact you to provide the details of the capital investment and evidence of doing business. Once satisfied, they may extend the visa by two more years. You must always satisfy the visa conditions to remain and work in New Zealand.
Here is the Entrepreneur Resident Visa application process. You can apply at the official website from New Zealand or your country of residence:9
The New Zealand Entrepreneur Resident Visa processing times are not currently available.
Getting a visa is just the first step. But before getting on a plane, here are some other factors to consider before and after moving to New Zealand:
You will likely want to open a personal and business bank account in New Zealand. A personal bank account will allow you to deposit your earnings and make local payments, like rent. Learn more in our complete guide about how to open a bank account in New Zealand.
A business bank account can help you track your business transactions and expenses. Developing a relationship with a bank can also help with financing and loan options. Popular banks in New Zealand are ANZ, Westpac, ASB and BNZ.
If your business operates globally, be sure to look at international transaction fees at banks. Banks set their own exchange rate, which can often hide an extra fee. Plus, with high transaction costs, a transfer can cost more than you think.
Want a cheap, fast and simple way to send money abroad? Check out Wise.
Send money to local bank accounts overseas with Wise. Wise uses smart tech to make transfers secure and fast: the money can arrive within a matter of minutes on popular transfer routes.
With a low transfer fee and the mid-market exchange rate on every transaction, you will always know how much your transfer will cost upfront. That means no extra mark ups on the exchange rate.
Sign up for Wise and see how much you can save on your next international transfer.
When you need to book your next holiday, send money home and purchase that new item online, but in different currencies, Wise is here to make life just a bit easier. The Wise multi currency account lets you hold multiple currencies in one account. You can also spend and send money to local bank accounts and make purchases from overseas retailers. The account offers a linked debit card to make payments even easier by tapping or swiping when you’re travelling.
Sign up for the Wise multi currency account and see how much simpler living globally can be.
Wise account for New Zealand Residents 🚀
Startups in New Zealand can sign up for the Wise Business account. It is everything you love about Wise, but now for your business. You can send money to local bank accounts for suppliers, freelancers or staff in over 70 countries. This includes batch payments of up to 1,000 people.
Wise Business integrates with your business by connecting with your existing accounting software like Quickbooks so you can keep track of all your transactions. With an account, you can also offer clients bank details in multiple currencies so they can pay in the best currency for them.
Go global and save money and time with the Wise Business account.
This article provides a general overview of how to get a startup visa for New Zealand and is not intended to be personalized advice. Consult with finance, immigration and business professionals to chart out your own unique path for you and your business.
Sources used for this article:
Sources verified on 10 January 2024.
Cover photo by fauxels.
*Please see terms of use and product availability for your region or visit Wise fees and pricing for the most up to date pricing and fee information.
This publication is provided for general information purposes and does not constitute legal, tax or other professional advice from Wise Payments Limited or its subsidiaries and its affiliates, and it is not intended as a substitute for obtaining advice from a financial advisor or any other professional.
We make no representations, warranties or guarantees, whether expressed or implied, that the content in the publication is accurate, complete or up to date.
Review of Mulya Finance for Indian businesses - a solution for accepting payments from foreign clientele. Our guide to how it works and alternatives.
Overview of Skydo
Overview of startup visa application process with guide to the most popular countries for startup entrepreneurs. Learn how to apply with our country-wise guide.
Dreaming of a Swiss startup venture? Explore alternative paths despite the lack of a dedicated visa. We go over the visa options in Switzerland for founders.
Explore Lithuania Startup Visa with our guide to thriving in Vilnius' vibrant tech hub.
Explore the thriving Danish startup ecosystem with founder's guide to eligibility, application process, and expert tips.