BB5 Changing a business proposal (24/03/2014)

1. The holder of an Entrepreneur Work Visa may submit one request to change their business plan within the validity of their visa. Any changes proposed must be minimal, or the request will be declined.
2. Change requests may be granted if a business immigration specialist is satisfied that:
   1. the changes proposed are minimal and do not significantly alter the nature of the proposed business; and
   2. there are genuine reasons for changing the original business proposal; and
   3. the business still requires the same or a greater level of capital investment than the original business proposal; and
   4. the proposed changes would have been granted the same or greater points in the points scale set out in BB3.10(d); and
   5. the business still meets the requirements for a business plan as set out in BB3.15; and
   6. the applicant has sufficient business experience relevant to the proposed business; and
   7. the business continues to offer at least the same level of benefit to New Zealand, with regards to requirements for full time positions being created for New Zealand citizens or residents, annual turnover, new exports and/or the introduction of unique products of services to New Zealand or to a particular region.
3. Account will only be taken of the amount of capital that is to be actively invested in the business. This does not include:
   1. working capital; or
   2. speculative or passive investment(s), such as reserve funds or term bank deposits; or
   3. expenditure on items for the personal use of the applicant(s), such as personal residence, cars or boats.
4. If the request to change a business proposal is refused, the applicant must be offered the option of continuing with their original business proposal.
5. If the applicant still wishes to pursue the new business after the request for a change has been refused, they must lodge a new application for an Entrepreneur Work Visa.
6. If the applicant does not continue with the original business proposal, but starts the new business without approval or a new application being approved, they may be made liable for deportation.

Note: A genuine reason for changing the original business proposal does not include inadequate market research.
A visa holder may be made liable for deportation where they are undertaking business activities which breach the conditions of their visa.

Effective 24/03/2014