Australian and New Zealand residence visas in 2024
| Summary of important information | Australia 457 | Australia 188 | New Zealand |
|---|---|---|---|
| Is Client required to establish a local business? | Yes, before approval | Yes, after visa approval | Yes, after visa approval |
| Estimated total timelines to secure the visa? | 14 months | 12 months | 8 months |
| Minimum investment required to secure visa? | No official threshold | No official threshold | NZ$100,000 |
| Recommended investment required to secure visa | AU$200,000 | AU$200,000 | NZ$200,000 |
| Main engagement challenge? | Become a sponsor company - Be a lawful operating business, employ locals, achieve training benchmark |
Secure Government or registered investor funding of AU$200,000 | Provide authorities with supporting documents for realistic business setup project |
| Visa considerations | |||
| Recommended type of visa? | 457 (temporary work) | 188 (entrepreneur stream) | Entrepreneur work Visa |
| Visa type? | Skilled | Entrepreneur | Entrepreneur |
| Initial duration? | 4 years | 4 years 3 months | 12 months |
| Renewable? | Yes | No | Yes (up to 2 years) |
| Minimum total timelines to secure the visa? | 12 months | 9 months | 3 months |
| Business setup requirements | |||
| Local company formation required after visa approval? | Required before visa approval | Yes | Yes |
| Estimated costs for company incorporation? | AU$15,827 | AU$15,827 | US$17,235 |
| Local corporate bank account required? | Yes | Yes | Yes |
| Main visa approval requirements? | |||
| Local residential address in country? | Yes | Yes | Yes |
| Minimum investment? | No official threshold | No official threshold | NZ$100,000 |
| Higher capital investment directly affect visa approval? | Yes | Yes | Yes |
| Must the amount be paid-up to a local account before visa submission? | No | No | No |
| Can the amount be withdrawn and sent back to Client’s foreign account post visa approval? | No | No | No |
| Can the amount be used for expenses of the business? | Yes | Yes | Yes |
| Is Client required to hire locally for visa eligibility? | Yes | Yes | Yes |
| Is Client required to go through a health screening test? | Yes | Yes | Yes |
| Is Client required to get police certificate in all his countries of residency? | Yes | Yes | Yes |
| Government sponsorship required for visa eligibility? | No | Yes | No |
| Is visa eligibility dependent on funds awarded by Government or venture capital fund? | No | Yes, minimum of AU$200,000 | No |
| Is a feasibility study required for visa approval? | No | Yes | Yes |
| Main visa renewal requirements? | |||
| Initial visa validity? | 4 years | 4 years 3 months | 1 year |
| Maximum stay in the country on the visa? | 4 years | 4 years 3 months | 3 years |
| Company must be incorporated for renewal? | Yes | Visa is non-renewable | Yes |
| If company not incorporated will visa be cancelled? | Yes | Yes | Yes |
