New Zealand Launches Business Investor Visa to Attract Investors

In a significant move to bolster its economy, the New Zealand Government has introduced a new Business Investor Visa. Announced by Immigration Minister Erica Stanford, this initiative allows migrants to gain residency by investing in and managing existing New Zealand businesses. The introduction of this visa replaces the Entrepreneur Work Visa, which will be phased out.

Applications for the Business Investor Work Visa are set to open in November 2023. The new visa offers two investment pathways. The standard option requires a minimum investment of $1 million in an existing business, leading to residency after three years of active management. Alternatively, a fast-track option is available, providing residency within just 12 months for 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 stated. She emphasized that the visa has been designed with clearer guidelines, making it easier for both applicants and Immigration New Zealand to navigate the process while ensuring tangible economic benefits.

To qualify for the Business Investor Visa, applicants must invest in a business that has been operational for at least five years and has met specific financial criteria. The business must also employ a minimum of five full-time staff. An additional requirement is the creation of at least one new job for a New Zealander. Applicants must maintain the employment of five staff, ensure business solvency, and physically reside in New Zealand for at least 184 days annually.

Moreover, applicants must fulfill health and character assessments, demonstrate English language proficiency, and possess relevant business experience. Age restrictions apply, requiring applicants to be under 55 years old. They must also have $500,000 in liquid funds to support their family during the initial stages of residency.

Certain business sectors are excluded from eligibility for the visa, including adult entertainment, convenience stores, fast food outlets, franchises, gambling, home-based businesses, and tobacco-related industries. The costs associated with the visa include $12,380 for the work visa and $14,890 for the resident visa.

This announcement is part of the Government’s broader effort to update its business immigration policies. In February 2023, adjustments were made to the Active Investor Plus visa, which requires a minimum investment of $5 million for three years or $10 million over five years. The Government also decided to retire the Entrepreneur Category due to low application rates, high decline rates, and limited economic impact.

Stanford mentioned that the Government is actively developing a new pathway aimed at startup entrepreneurs with “scalable, innovative business ideas.” This initiative is designed to complement existing immigration frameworks and enhance overall economic growth.

“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,” Stanford concluded, underscoring the potential positive impact of the new visa on New Zealand’s economic landscape.