Business Investor Work Visa

A Business Investor Work Visa is valid for up to 4 years, which includes the:

• Establishment stage — within the first 12 months — to purchase your nominated business and start running it
• Operating stage — the rest of the 4 years — to continue running and growing the business in New Zealand.

Within the first 9 months of your Business Investor Work Visa, you must provide us with evidence showing you have purchased and started running the business — then your visa will be valid for the rest of the 4-year period. If you do not provide acceptable evidence within the first 9 months, your visa will expire after the 12-month Establishment stage.

You can apply for 1 more Business Investor Work Visa (known as a 'renewal') of up to 2 years, if you need more time to meet the requirements of a Business Investor Resident Visa.

The length of time you must run your business in New Zealand for, before you are eligible for a Business Investor Resident Visa, depends on how much you invest.

If you invest at least:

• NZD $1 million in an established business, you may be eligible for a resident visa after 3 years of running the business — standard pathway
• NZD $2 million in an established business, you may be eligible for a resident visa after 12 months of running the business — fast-track pathway.

To apply for this visa, you must:

• show us you can invest at least:
  • NZD $1 million in an established business, if you apply under the standard pathway, or
  • NZD $2 million in an established business, if you are applying under the fast-track pathway
• show you have at least NZD $500,000 in reserve funds to support yourself (and your family if you are including them in your application) while running and growing your business
• nominate and undertake due diligence on a business to purchase that meets our requirements
• intend to be in running the business
• intend to create at least 1 new for a New Zealand citizen or resident
• have, or intend to get, professional or occupational registration in New Zealand, if required for running the proposed business
• be aged 55 years or younger
• meet the 3-year business experience requirement
• speak and understand English
• be in good health
• be of good character
• be a fit and proper person
• meet the other requirements of this visa.

Minimum investment

You must show us that you are able to make an investment of at least NZD $1 million in an established business.

You must provide evidence that the funds or assets you intend to use for your investment are:

• owned by you (or you and your partner and/or dependent children included in your application), and
• earned or acquired lawfully.

If you own an investment jointly with someone who is not your partner or dependent child, you can nominate the value of your share for your investment.

Evidence you own the funds or assets to invest can include:

• bank statements
• title deeds
• property valuations
• share certificates
• business ownership documents
• asset valuations.

Examples of evidence you earned or acquired the funds or assets lawfully include:

• tax returns or certificates
• pay slips
• business financial statements
• business shareholding
• dividends
• receipts for property sales
• bank certificates
• share trading profits
• evidence of funds gifted permanently through a will
• probate and other evidence of inherited money.

Your funds or assets cannot be borrowed (except in certain circumstances) or have a loan or bond against them.

Providing evidence of funds and assets for investor visas

Enough money to support yourself and run your business

You must have at least NZD $500,000 in reserve funds to support yourself (and your family, if applicable) while you are running and growing your business in New Zealand.

You must provide evidence you have the funds and/or assets to cover the required reserve funds, which can include:

• bank statements — you must be able to access the funds from New Zealand
• title deeds
• property valuations
• share certificates
• business ownership documents
• asset valuations.

The value you can claim for your reserve funds depends on if they are owned by you, or jointly by you and another person. If you own your reserve funds jointly with:

• your partner and/or dependent children included in your application, you can claim the full value (you and your partner must be in a )
• someone who is not included in your application, you can only claim for the part of the investment that you own.

Partnership and how to prove it

Business experience

You must have at least 3 years of acceptable business experience for this visa.

Acceptable business experience can be:

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

Senior management experience includes responsibilities such as:

• approving significant costs
• approving marketing strategies or business plans
• ensuring compliance with tax and legal obligations
• making financial decisions (for example, budgeting, investments, pricing)
• managing employees or teams
• overseeing production, service delivery, or logistics
• strategic planning.

Evidence of this business experience can include:

• business registration
• company financial accounts
• company or personal tax returns and tax records
• shareholder certificates or proof of ownership of business
• job descriptions or assessments
• pay records
• letters of appointment
• certificates of service
• strategic planning documents
• bank records confirming authority to operate accounts
• references from employers on company letterhead, stating the position and dates of employment, and their contact phone number and address.

Nominated business to invest in

The business you invest in must:

• have been trading for at least 5 years
• be lawful and currently operating in New Zealand
• comply with immigration, employment and business standards
• have a purchase price of at least NZD $1 million (not including property value or goods and services tax (GST)) that would result in you owning at least 25% of the business
• employ at least 5 full-time equivalent staff
• not already be owned by yourself or any family member
• not have been used in an approved application in the last 10 years for a:
  • Business Investor Work Visa
  • Business Investor Resident Visa
  • Entrepreneur Work Visa, or
  • Entrepreneur Resident Visa.

More information about the requirements your nominated business must meet:

Acceptable investments for a Business Investor Work Visa

Business Proposal form and evidence

As part of your application, you must provide:

• a completed Business Proposal form, demonstrating that your nominated business meets the above requirements and describing the due diligence undertaken
• a valuation of your nominated business from a qualified statutory accountant
• supporting documentation, including the evidence asked for in the Business Proposal form
• confirmation that you understand the legal and financial position of the nominated business and any associated risks
• confirmation from a qualified statutory accountant of financial due diligence into your nominated business, and
• confirmation from a New Zealand lawyer of legal due diligence into your nominated business.

Health

You must be in good health.

You must provide a chest X-ray and a medical examination as proof of your good health.

How to get an X-ray or medical examination

Character

You must be of good character.

If you are 17 or older, you must provide a police certificate from:

• your country of citizenship
• any country you have lived in for 5 years or more since you turned 17.

Character requirements for New Zealand visas

Police certificates

How to get a police certificate

Fit and proper person

You must be a fit and proper person.

You must confirm in the application form that you meet fit and proper person requirements.

To be a fit and proper person, all businesses you have influence over must have complied with all immigration, employment and taxation laws. You must also have:

• never been investigated by the Serious Fraud Office or the New Zealand Police for any offence resulting from business dealings
• no convictions for an offence involving dishonesty, and
• never been involved in business fraud or financial impropriety.

English language

You must speak and understand English.

You can show us you speak English by either:

• through your English ability from citizenship, working and studying, or
• by taking an English language test.

English language test results for business people and employees relocating to New Zealand

Partner and dependent children

If you include your partner and children in your application, you must have a genuine relationship with them.

You must provide evidence:

• of your relationship with your partner and dependent children, like a marriage certificate and birth certificates, and
• that your partner and dependent children meet the health, character and identity requirements for this visa, if necessary.

A partner may be granted a work visa, and dependent children may be granted a student or visitor visa, depending on their needs.

Partnership and how to prove it

Bringing children

Applicants from Hong Kong or Macao applying within Hong Kong or Macao

You should provide copies of identity cards for family members included in your application.

When you apply

When you apply, you will need to provide:

• your passport or certificate of identity — you can provide the original or a certified copy
• 2 acceptable photos
• evidence you have the funds to make an investment in an established business of at least NZD $1 million
• evidence of reserve funds of at least NZD $500,000
• evidence of your business experience showing your position, responsibilities and dates
• a completed Business Proposal form, demonstrating that your nominated business meets the requirements and describing the due diligence undertaken
• confirmation you have, or intend to get, professional or occupational registration in New Zealand if required for running the proposed business
• evidence of a chest X-ray
• evidence of a medical examination
• police certificates
• certified English translations of your police certificates or medical certificates that are not in English.

Acceptable photos for a visa or NZeTA

Your visa is valid from:

• the date you enter New Zealand, if you are outside New Zealand when we approve your application, or
• the date you get your visa, if you are already in New Zealand.

Before your visa expires, you must leave New Zealand or be granted another visa.

Entry permission

You must apply for permission to enter New Zealand. You do this by completing a New Zealand Traveller Declaration (NZTD) form.

You can start your digital declaration any time, but the earliest you can submit it is 24 hours before starting your travel to New Zealand.

A paper declaration form is available for travellers who cannot complete it online.

New Zealand Traveller Declaration

New Zealand Customs and Biosecurity also check that you meet their entry requirements.

Arriving in New Zealand

These are the conditions that you must meet once you have your visa.

Travel

After you arrive, you can travel in and out of New Zealand as many times as you like before your visa expires.

Work

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

The type of business describes what your business does, not its specific name or location. For example, a type of business could be 'cafes and restaurants' or 'internet publishing and broadcasting'.

The Establishment stage

Within the first 9 months of your Business Investor Work Visa, you must provide us with evidence showing you have purchased and started running the business.

If we approve your evidence, your visa will continue to be valid for the rest of the 4-year period.

If you do not provide acceptable evidence within the first 9 months, your visa will expire after the 12-month Establishment stage.

The Operating stage

If, after the Establishment stage, you need to change the type of business you are actively involved in running, you must:

• send us the completed variation of conditions application
• send us evidence to show requirements have been met and any other documents we request
• pay the fee.

You can only change the type of business once during your Business Investor Work Visa.

Check or change your work visa conditions

Study

You can study for up to 3 months in any 12-month period.

Visa expiry

You must leave New Zealand or be granted another visa before your visa expires.

Applying for a further Business Investor Work Visa

You can apply for 1 further Business Investor Work Visa (known as a 'renewal') if you need more time to meet the Business Investor Resident Visa requirements. This can be because you have not yet:

• run the business continually for 3 years, or
• created at least 1 new full-time job for a New Zealand citizen or resident.

A Business Investor Work Visa renewal is valid for up to 2 years and you must pay the renewal fee.

For us to approve your renewal application, you must show that:

• your business continues to employ at least 5 people in full-time equivalent positions
• your business complies with immigration, employment and business standards
• your business is and complies with all financial, tax and legal obligations
• you continue to keep ownership of at least the same proportion of your business that was originally approved
• you have spent the majority of your time in New Zealand running the business
• you continue to meet fit and proper person requirements
• within the duration of having a further visa, you are going to:
  • meet the requirements of the Business Investor Resident Visa by running the business for 3 years (or 12 months if the business was bought for at least NZD $2 million), and
  • create ongoing, full-time equivalent employment for 1 additional New Zealand citizen or resident
• you and any partner or dependent children included in your application meet health and character requirements for residence.

Business Investor Resident Visa

If you want to stay longer, you can apply for a Business Investor Resident Visa after you have spent time in New Zealand running your business.

The length of time you must operate your business in New Zealand for, before you are eligible for a Business Investor Resident Visa, depends on how much you invest.

If you invest at least:

• NZD $1 million in an established business, you may be eligible for a resident visa after 3 years — standard pathway
• NZD $2 million in an established business, you may be eligible for a resident visa after 12 months — fast-track pathway.

While on your Business Investor Work Visa, you must also have:

• spent at least 184 days a year in New Zealand
• kept ownership of at least the same proportion of your business that was originally approved
• created, and maintained for at least 12 months, at least 1 new full-time job for a New Zealand citizen or resident
• maintained employment of 5 full-time equivalent staff
• kept the business solvent.

Business Investor Resident Visa