Business Investor Work Visa

At a Glance

Item	Details
Visa name	Business Investor Work Visa
Stay	Up to 4 years
Cost	From NZD $12,380
Applications	Open
Age eligibility	55 years or younger
Minimum investment	NZD $1 million
Reserve funds	NZD $500,000 required
Work rights	Run nominated business
Study	Up to 3 months yearly
Medicare	Not stated in the source
Travel facility	Multiple travel before expiry
Residence pathway	Possible after business operation
Citizenship	Not stated in the source
Family inclusion	Partner and dependent children
Family sponsorship	Not stated in the source
Visa record	Not stated in the source
Processing time	Not stated in the source

---

Purpose

This visa is for people who want to invest in and actively operate an established New Zealand business.

It has:

• an Establishment stage of up to 12 months; and
• an Operating stage for the remaining visa period.

Eligibility

You must:

• be 55 years or younger when applying;
• invest at least NZD $1 million in an acceptable established business;
• hold at least NZD $500,000 in separate reserve funds;
• have at least 3 years of acceptable business experience;
• nominate a business and complete due diligence;
• intend to be actively involved in running the business;
• intend to create at least 1 new full-time job for a New Zealand citizen or resident;
• meet English, health, character and fit-and-proper-person requirements; and
• have, or intend to obtain, any required professional registration.

Investment funds

Investment funds or assets must be:

• owned by you, or by you and included family members;
• lawfully earned or acquired; and
• generally not borrowed or secured by a loan or bond.

GST, business property value, fees and transaction costs do not count toward the investment amount.

If funds are already in New Zealand, provide evidence that they were lawfully earned there or lawfully transferred from the country where acquired.

Reserve funds

Reserve funds must be separate from your investment funds and available to support you and included family while running and growing the business.

Business Experience

You need at least 3 years of either:

• paid self-employment in a commercial business, charity or non-governmental organisation with at least 5 full-time employees or annual revenue of NZD $1 million; or
• paid senior-management experience in a commercial organisation with at least 5 staff under your direct management and annual turnover of NZD $5 million.

Evidence may include business registration, financial accounts, tax records, ownership documents, employment records, references and bank records.

Nominated Business Requirements

The business must:

• have traded for at least 5 years;
• be lawful and currently operating in New Zealand;
• comply with immigration, employment and business standards;
• cost at least NZD $1 million, excluding GST and property value;
• give you at least 25% ownership;
• employ at least 5 full-time-equivalent staff;
• not already be owned by you or a family member; and
• not have supported an approved listed business-investor or entrepreneur application within the last 10 years.

You must provide:

• a completed Business Proposal form (INZ 1393);
• a qualified statutory accountant’s business valuation;
• financial due-diligence confirmation from a qualified statutory accountant;
• legal due-diligence confirmation from a New Zealand lawyer; and
• confirmation that you understand the business’s legal and financial position and risks.

Your due-diligence lawyer must be different from your immigration lawyer, although they may work for the same firm.

Health, Character and English

Health

You must be in good health and provide:

• a chest X-ray; and
• a medical examination.

Medical and chest X-ray results must be less than 3 months old when received.

Character

Applicants aged 17 or older must provide police certificates from:

• their country of citizenship; and
• every country where they lived for 5 years or more since turning 17.

Police certificates must be less than 6 months old when you apply. Non-English certificates require certified English translations.

Fit and Proper Person

You must confirm that businesses you influence have complied with immigration, employment and taxation laws. You must not have relevant fraud, dishonesty or financial-impropriety history described in the application requirements.

English

You must show that you speak and understand English through citizenship, work and study history, or an English language test. Test results must be no more than 2 years old.

Family Provisions

You may include your partner and dependent children in your application.

Provide evidence of:

• your relationship with your partner and children;
• their identity and photographs; and
• their health and character requirements, where required.

A partner may receive a work visa. Dependent children may receive a student or visitor visa, depending on their needs.

Family members do not need to meet English requirements for this work visa. For a later residence application, they must meet English requirements or pay for English language classes.

Use Additional Dependents for a Business Investor Work Visa (INZ 1395) if including more than 4 dependent children.

Documents

Submit:

• passport or certificate of identity;
• 2 acceptable photos;
• investment-fund evidence;
• NZD $500,000 reserve-fund evidence;
• business-experience evidence;
• completed Business Proposal form;
• required professional-registration evidence;
• medical examination and chest X-ray evidence;
• police certificates; and
• certified English translations of non-English police or medical certificates.

Fund evidence may include bank statements, title deeds, valuations, share certificates, ownership documents, tax records, payslips, financial statements, dividends, sale receipts, gift evidence or inheritance records.

Chinese citizens applying from China, Hong Kong or Macao must also submit INZ 1027. Certain Hong Kong or Macao passport holders applying within China, Hong Kong or Macao must submit INZ 1220.

How to Apply

Applications are made on paper.

1. Gather supporting documents and translations.
2. Complete the Business Investor Work Visa Application (INZ 1394).
3. Submit the application and pay the required fee.
4. Wait for Immigration New Zealand’s decision.

Immigration New Zealand may request further information. If you are in New Zealand while waiting, you must keep a valid visa; an Interim Visa will normally be issued if your temporary visa expires during processing.

Conditions and Obligations

You must remain self-employed in New Zealand in the type of business named on your visa.

Establishment Stage

Within the first 9 months, provide evidence that you have purchased and started running the nominated business.

If accepted, the visa continues for the rest of the 4-year period. If you do not provide acceptable evidence within 9 months, the visa expires after the 12-month Establishment stage.

If the Business Sale Falls Through

You may change your nominated business once if:

• the failure was outside your control;
• it is within the first 6 months of the visa;
• you submit a new Business Proposal form and supporting evidence; and
• the new business costs at least NZD $1 million.

You must still purchase and start running the replacement business within the first 9 months.

Operating Stage Changes

You may change the type of business once during the Operating stage. You must apply for a variation of conditions, provide required evidence and pay the fee.

Study and Travel

You may study for up to 3 months in any 12-month period. Apply for a variation of conditions to study longer.

After arriving, you may travel in and out of New Zealand as many times as you like before the visa expires.

Before expiry, you must leave New Zealand or obtain another visa.

Residence Pathway

You may be eligible for a Business Investor Resident Visa after operating the business:

• for 3 years after investing at least NZD $1 million; or
• for 12 months after investing at least NZD $2 million under the fast-track pathway.

Fast-track applicants must still run the business for at least 3 years across both visas. Resident visa conditions are applied to ensure this.

For residence, while holding this work visa, you must also have:

• spent at least 184 days each year in New Zealand;
• maintained at least the originally approved ownership proportion;
• created and maintained one new full-time job for a New Zealand citizen or resident for at least 12 months;
• maintained 5 full-time-equivalent staff; and
• kept the business solvent.

Renewal

You may apply for one further Business Investor Work Visa for up to 2 years if you need more time to meet resident visa requirements.

For renewal, show that the business:

• still employs at least 5 full-time-equivalent staff;
• complies with immigration, employment and business standards;
• is solvent and meets financial, tax and legal obligations; and
• remains owned by you at at least the approved proportion.

You must also have spent most of your time in New Zealand running the business and continue to meet fit-and-proper-person requirements.

Arrival Warning

All travellers must complete a New Zealand Traveller Declaration.

Entry permission may be refused if you do not have genuine intentions, no longer meet character requirements, your circumstances have changed, or you refuse biometric collection.