BH2.1 Successful establishment and operation of a business that benefits New Zealand significantly

Principal applicants in the Entrepreneur Residence Visa Category are required to:

1. demonstrate that they have successfully established a business in New Zealand that realises the benefits outlined in their business plan, and have operated that business for at least:
   1. two years, and meet the requirements of BH2.1.1; or
   2. six months, and meet the requirements of BH2.1.5; and
2. demonstrate that the business is benefiting New Zealand significantly (see BH4.10); and
3. demonstrate that the business complies with employment and immigration law (see BH2.5); and
4. demonstrate that the same or greater amount of capital (see BB3.5.10) has been invested in the business as outlined in the business plan; and
5. meet the fit and proper person requirements set out at BM1.

BH2.1.1 Requirements for applicants who have operated a business for at least two years

1. To be granted an Entrepreneur Residence Visa on the basis of operating a business for two years, the principal applicant must:
   1. have been self-employed in that business for two years prior to the date the application under the Entrepreneur Residence Visa Category is made; and
   2. hold an Entrepreneur Work Visa, Long Term Business Visa or other visa which allows self-employment.
2. If a principal applicant does not hold an Entrepreneur Work Visa or Long Term Business Visa, they must demonstrate they meet the requirements for an Entrepreneur Work Visa set out at BB3.1.

BH2.1.5 Requirements for applicants who have operated a business for at least six months

1. To be granted an Entrepreneur Residence Visa on the basis of operating a business for six months, the principal applicant must:
   1. have been self-employed in that business for at least six months prior to the date the application under the Entrepreneur Residence Visa Category is made; and
   2. have made a capital investment (see BB3.5.10) of at least NZ$500,000 in their business; and
   3. have created at least three ongoing and sustainable full time jobs for New Zealand citizens or residents; and
   4. hold an Entrepreneur Work Visa or a Long Term Business Visa at the time the residence visa application is made.
2. Applicants who have operated a business for six months must provide evidence:
   1. of how their investment funds have been invested in their business and how this has benefited the business or increased its value; and
   2. that any jobs created meet the definition of full time employment at BB6.1.25, as shown by employment contracts, wage and salary records, or evidence of business turnover.
   3. If they have not done so previously, the principal applicant must provide evidence the investment capital, as stated in the business plan, has been transferred directly from the holder’s bank account(s) through the banking system to New Zealand.

Effective 21/11/2016