As per a recent World Bank Doing Business study, New Zealand (NZ) is the easiest country to start or do business in throughout the world. Reliable information indicates that a person can log in to government websites and start the process of business incorporation in a matter of hours. It is a straightforward process although it is always prudent to do things through an experienced agent or consultant.
If you are wondering whether NZ has restrictions for starting or doing business for both locals and foreigners, the answer is yes. They do have a few restrictions and requirements as we are going to discuss shortly.
Apart from starting a business in this country, investors from all over the world have numerous opportunities. You can be an angel investor, buy properties, or venture into any other area.
Top Businesses to Start in NZ
Both locals and foreigners have numerous business opportunities to explore in NZ. It could be a small startup or branch of a business. Still, the country makes it easy for foreign entrepreneurs who want to relocate their businesses. Here are some of the many opportunities that you have.
- IT – The world is turning everything into a digital option. IT is a critical department in every business and organization in NZ. This means that starting an IT solution firm will do well. Hence, you can offer services such as software and hardware installation and management, web creation and hosting, digital marketing, and anything else related to IT. Chances are high that you will have many customers knocking on your door every day.
- Business management consultant – Since NZ has been scooping up awards for the best place to start a business, many investors both local and foreign are starting businesses. Many businesses need business management experts to help them in polishing up their skills for success. If you have the expertise and resources, you can start a business management consultancy firm and succeed easily.
- Pharmaceutical and healthcare services – There are many opportunities in this area, but one thing is for sure, the pharmaceutical business, whether you want to manufacture medicine, supplements, and healthcare products or distribute them, is a prime opportunity. You can also start a healthcare or wellness center and succeed well.
- Education – This is another prime area for starting a business in NZ. There is a need for high-quality education in the private sector. Although the government schools are world-standard, the private schools offer extras to the pupils and parents are willing to take this up, especially in urban areas.
- Transport and logistics – This business opportunity has always thrived in NZ. Those who are in it are doing well and you too can jump on the bandwagon. For this, you will need trucks, vans, and the relevant software to start the business.
- Fashion and beauty products retail – Just like any other part of the world, people from NZ appreciate designer fashion and beauty products. Starting a retail shop that stocks these products is easy. Target busy centers and shopping malls that are upcoming all over the major towns to start your business.
The list of opportunities is long, but these are the major areas to check if you are interested in starting a business in this country. You can also consider events and catering services, health and fitness businesses, hospitality, real estate, and many others.
Investment Opportunities in NZ
Most investments require large capital options unlike starting a small business like what we have seen above. New Zealand is now encouraging foreign investors to consider investing in this country, so they have made the process as easy as possible. There are major areas of investment and they come with numerous perks. Check out these options:
- Buying a property – New Zealand’s infrastructure is growing at a fast rate. Both residential and commercial properties are coming up everywhere. Foreign investors who want to invest in this sector now have an easier time since the government has also simplified the process. This option also comes with the investor visa benefit just like other investment options. If you want to find out more, see this page and read what the experts advise the investors. After buying a property, you can either live in it or rent it out. The option is yours.
- Being an angel investor – This opportunity gives both local and foreign investors an opportunity to support upcoming business startups. You are typically presented with a great business proposal and you will give money as capital. The idea is to give investors a higher return while the small business owners get an opportunity to start their business even if they do not have enough capital. As an angel investor, you can support as many businesses as your money can allow. Although it is a risk, this program reduces such a risk by coaching entrepreneurs on how to succeed in business.
- Buying shares and bonds – As a foreign investor, you have the option of buying shares in thriving organizations and businesses. There is also an option of buying government bonds or through any other program. There are guidelines for doing this and it is better to dig deep into research before proceeding. If you do not have experience in shares and bonds, there are many experts in NZ who are willing to guide you. Start by checking the publicly listed shares in NZ to get a heads-up on where to start.
Common Visas for Doing Business and Investing in NZ
Business visa – This is a common visa for entrepreneurs who want to do business here for a short time. Since it is only valid for three months, the state would like applicants to show that they will only stay here for the said time while doing genuine business. One has to leave the country after three months although there is an option of renewing the visa if your business is taking longer. This visa can be used as a start for those who want to know how NZ is when it comes to starting a business. Then other long-term visas can be sought later.
Entrepreneur visa – Foreigners who want to start a long-term business in NZ have this option waiting for them. Whether you want to buy an existing business or start your own, this visa allows you to relocate to this wonderful state and start your venture. When all is set, many entrepreneurs are allowed by the law to apply for an entrepreneur residence visa. As most of us know, becoming a resident in New Zealand has many benefits since one is treated as a citizen. This is a big opportunity to grow a business or even start other businesses.
Investor visa – When you show interest in investing in NZ, this is the type of visa you will get. For those who want to invest 3 million NZ dollars, they get the Investor 2 visa that is valid for four years. Many investors prefer this option, which acts as a window to know how an investment in this country works. There is also an option of investing 10 million NZ dollars which gives you the Investor Plus visa, and this can be valid for more than three years. Investor visa requires you to have more robust information to lower the risks. Fortunately, government websites have more than enough information to guide your research. You may also need an expert to walk you through this.
Benefits of Doing Business or Investing in NZ
One of the biggest benefits to enjoy when doing business here is a stable economy. Although the country is small, it has a thriving economy, which is why many investors from different parts of the world have been eyeing the country. Government support for business startups and investments has played a big part in stabilizing the economy. The political environment in the country is also very friendly.
The ease of doing business in NZ is now recognized globally. As mentioned in the beginning, the state has now received recognition by the World Bank as one of the places regarding the ease of doing business in the world. She has now joined other nations such as the US, Singapore, and Hong Kong.
For those who are planning to start a business or invest in NZ, the legal requirements are not only a few but they are straightforward to apply. Such a business-friendly environment further makes the environment very conducive for entrepreneurs and investors. The process will even be simpler when you use a reliable agent with the right expertise since they will assess your qualifications and give the right guidance.
Starting a business or investing in NZ is a big opportunity for foreigners. Eventually, getting a resident visa will make you feel like a citizen and you will enjoy numerous benefits. But most importantly is that the country increases the chances of succeeding in your business to the extent of competing with other global businesses. After reading the insights above, you now have all that you need to get things rolling. Good luck!
By Jane Wilson