New Zealand Introduces Business Investor Visa to Attract Investment

The New Zealand Government has announced the launch of a new Business Investor Visa, aimed at attracting foreign investors to support and manage existing businesses in the country. Immigration Minister Erica Stanford revealed this initiative today, marking the end of the previous Entrepreneur Work Visa. The new visa is designed to enhance economic growth by encouraging experienced investors to actively engage in business operations.

Applications for the Business Investor Visa will open in November 2023. There are two investment pathways available: the standard option requires a $1 million investment in an established business, leading to residency after three years. Alternatively, a fast-track option allows for residency within 12 months, requiring 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 settings are designed to be more comprehensible for applicants and easier for Immigration New Zealand to process, ultimately delivering 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, meets specific financial thresholds, and employs a minimum of five full-time staff members. Furthermore, they must create at least one new job for a New Zealander, maintain the employment of five staff, ensure the business remains solvent, and spend at least 184 days in New Zealand.

In addition to the investment requirements, applicants must also meet health, character, English language proficiency, and business experience criteria. They must be under 55 years old and demonstrate they have at least $500,000 available to support their family. Certain business sectors are excluded from eligibility, including adult entertainment, convenience stores, fast food outlets, and gambling-related businesses.

The cost of the work visa is $12,380, while the resident visa is priced at $14,890. This announcement is part of a broader reevaluation of New Zealand’s business immigration policies. Earlier this year, the government adjusted the Active Investor Plus visa, which mandates a minimum investment of $5 million for three years or $10 million over five years.

The Entrepreneur Category has also been retired due to low application numbers and high rejection rates, which hindered its economic impact. Stanford confirmed that a new pathway is being developed for startup entrepreneurs with scalable and innovative business ideas, intended to complement existing visa options and complete the suite of immigration settings.

“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 stated. The introduction of the Business Investor Visa is a strategic move to foster investment and economic development in New Zealand, positioning the country as an attractive destination for global entrepreneurs.