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BH2.1 Successful establishment and operation of a business that benefits New Zealand significantly (24/03/2014)

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

  1. 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 BH 2.1.5; and
  2. the business is benefiting New Zealand significantly (BH4.10); and
  3. the business complies with employment and immigration law (see BH2.5); and
  4. the same or greater amount of capital has been invested in the business as outlined in the business plan.

Note: In assessing capital investment in the business, no account will be taken of working capital, passive or speculative investments, such as reserve funds or term bank deposits, any legal, accounting or administrative fees associated with the establishment of the business, or expenditure on items for the personal use of the applicant(s), such as personal residence, cars or boats.

For a definition of working capital please refer to the definition at BB6.1.50.

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 that meet the requirements to have been approved for an Entrepreneur Work Visa under 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 invested at least $NZ500,000 (excluding working capital) 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.

Effective 24/03/2014

PREVIOUS IMMIGRATION INSTRUCTIONS

BH2.1 Successful establishment and operation of a business that benefits New Zealand significantly (10/11/2016)

BH2.1 Successful establishment and operation of a business that benefits New Zealand significantly (01/11/2015)

BH2.1 Successful establishment of a business that benefits New Zealand significantly (14/05/2013)

BH2.1 Successful establishment of a business that is benefiting New Zealand (29/11/2010)

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