New Zealand Launches Business Investor Visa to Attract Global Talent

New Zealand’s Immigration Minister, Erica Stanford, announced today the introduction of a new Business Investor Visa aimed at attracting international investors to contribute to the nation’s economy. This initiative replaces the Entrepreneur Work Visa, which will be retired as part of a broader reform of the country’s immigration policies.

Applications for the Business Investor Visa will open in November. The visa offers two distinct investment pathways. The standard option requires a minimum investment of $1 million in an existing New Zealand business, which can lead to residency after a period of three years. For those seeking a quicker route, a fast-track pathway is available, allowing residency within just 12 months for an investment of $2 million.

“This new visa will bring overseas investment to maintain and create jobs, grow incomes, and breathe new life into existing businesses across the country,” said Stanford. She emphasized that the updated visa framework has been designed to be more comprehensible for applicants and more efficient for Immigration New Zealand to process.

To qualify for the Business Investor Visa, applicants must meet several criteria. They need to invest in a business that has been operational for at least five years, employ a minimum of five full-time staff, and create at least one new job for a New Zealander. Other requirements include maintaining a solvent business, spending at least 184 days in New Zealand, and meeting health, character, and English language proficiency standards. Applicants must also be under the age of 55 and demonstrate financial capacity by showing that they have $500,000 available to support their family.

Certain types of businesses are excluded from eligibility for this visa, including adult entertainment, convenience stores, discount and value stores, drop-shipping, fast food outlets, franchises, gambling operations, home-based businesses, immigration advisory services, and tobacco or nicotine ventures. The application fee for the work visa is $12,380, while the resident visa costs $14,890.

This announcement is part of the Government’s broader efforts to refresh its business immigration settings. Earlier this year, the Government revised the Active Investor Plus visa, which now requires a minimum investment of $5 million for a three-year period or $10 million over five years. The Entrepreneur Category has also been retired due to low application numbers, high decline rates, and limited economic impact.

Stanford noted that a new pathway is in development for startup entrepreneurs with “scalable, innovative business ideas.” This new route is intended to complement existing immigration settings and provide a comprehensive support structure for business growth in New Zealand.

“Our Government is focused on smart, flexible, and nuanced immigration solutions to help stimulate the New Zealand economy,” Stanford stated. She added that these changes are expected to bring “brighter days ahead for all Kiwis,” highlighting the potential for increased economic activity and job creation through targeted foreign investment.