A new Business Investor Visa will allow migrants to gain residency by investing in and running existing New Zealand businesses, Immigration Minister Erica Stanford announced today.
The Government has announced the closure of the Entrepreneur Work Visa and the launch of a new Business Investor Visa, designed to attract experienced investors to grow New Zealand’s economy through active business operations.
Applications for Business Investor Work Visa will open in November, with two investment options available. The standard pathway requires a $1 million investment in an existing business, leading to residency after three years of work. A fast-track pathway offers residency in 12 months with a $2 million investment.
“This new visa will bring overseas investment to maintain and create jobs, grow incomes, and breathe new life into existing businesses across the country,” Stanford said.
“It has clearer settings that are easier for applicants to understand and for Immigration New Zealand to process, and it’s designed to deliver real economic benefits.”
To qualify, applicants must invest in a business that has been operating for at least five years, met financial thresholds, and employed at least five full-time staff.
They must create at least one new job for a New Zealander, maintain five staff, meet investment thresholds, ensure the business remains solvent, and spend at least 184 days in the country.
Applicants must also meet health, character, English language, and business experience requirements, be under 55 years old, and show they have $500,000 to support their family.
Certain businesses are excluded, including adult entertainment, convenience stores, discount/value stores, drop-shipping, fast food outlets, franchises, gambling, home-based businesses, immigration advisory services, and tobacco/nicotine. The work visa will cost $12,380 and the resident visa $14,890.
The announcement forms part of the Government’s wider refresh of business immigration settings. In February, it adjusted the Active Investor Plus visa, which requires a minimum investment of $5 million for three years, or $10 million over five years.
At the same time, the Government has retired the Entrepreneur Category, citing low application numbers, high decline rates, and weak economic impacts.
Stanford confirmed a new pathway is being developed for startup entrepreneurs with “scalable, innovative business ideas, designed to complement existing settings and complete the suite.”
“Our Government is focused on smart, flexible and nuanced immigration solutions to help stimulate the New Zealand economy. These changes will help bring brighter days ahead for all Kiwis,” she said.