BB4.5 Requirements at the end of the Entrepreneur Start-Up stage (24/03/2014)

1. Towards the end of the Entrepreneur Start-Up stage, the holder must provide evidence sufficient to satisfy a business immigration specialist that:
   1. the investment capital for the proposed business, as stated in the business plan, has been transferred directly from the holder’s bank account(s) through the banking system to New Zealand; and
   2. reasonable steps have been taken to establish or invest in the business as set out in the business plan.

BB4.5.1 Evidence of reasonable steps taken to establish and operate a business

1. Evidence of transferring investment capital to New Zealand through the banking system may include but is not limited to:
   1. telegraphic transfer forms
   2. other documents, evidence and information the business immigration specialist considers may demonstrate the transfer of investment capital to New Zealand through the banking system.
2. Evidence of reasonable steps taken to establish and operate a business may include but is not limited to:
   1. documents evidencing the constitution of the business (e.g. certificate of incorporation)
   2. audited accounts
   3. GST records
   4. other tax records
   5. property purchase or lease documents relating to the business' site
   6. invoices for business equipment and supplies
   7. other documents, evidence and information a business immigration specialist considers may demonstrate reasonable steps taken to establish or invest in a business (e.g. employment agreements, bank statements, utility company invoices, sales agreements, contracts to provide products or services).

BB4.5.5 Further Entrepreneur Start-Ups

1. A business immigration specialist may extend the Entrepreneur Start-Up stage, in cases where they are not satisfied that the requirements of BB4.5(a) have been met, but are satisfied that the holder may be able to meet these requirements within a specified time, to allow the holder to take further steps to establish and operate their business.
2. Towards the end of the Entrepreneur Start-Up stage, the holder must provide evidence to satisfy a business immigration specialist that they meet the requirements at BB4.5(a) to be granted an Entrepreneur Balance at the expiry of that second period.
3. Further Entrepreneur Start-Ups will not extend the maximum length of the Entrepreneur Work Visa, which will still be for a period of up to 3 years (that is, the maximum duration remains up to 3 years from the date the Entrepreneur Work Visa was granted).

Effective 24/03/2014