Long Term Business visa

 

A Long Term Business Visa is designed for foreign residents who wish to migrate to New Zealand to start their own business. This visa is a temporary residency permit that can lead to the entrepreneur category, which then entitles the applicant to permanent residency in New Zealand. 

 

A Long Term Business Visa allows a candidate to immigrate in New Zealand as a self-employed person for up to three years. A New Zealand long-term business visa is a step to gaining residence in New Zealand through the entrepreneur category.

 

Eligibility of an applicant is assessed under the following categories: 

 

• Investment Capital: While there is no set limit on capital required, business permit applications will be judged subjectively on a case-by-case basis where funds will need to be appropriate to the business.

 

• Business Experience: Long Term Business Visa applicants will be judged on a case-by-case basis. Applicants who have experience in a senior management position that is responsible for all aspects of business operation are more likely to be accepted under this category. 

 

• Business Plan: A business plan is required when applying for a New Zealand Long Term Business Visa. This business plan, along with supporting documents, must determine that: 

 

- The applicant has enough money to establish the proposed business in New Zealand and to support themselves and any family. 

- Applicant's financial forecasts are realistic. 

- The applicant has relevant business experience, including qualifications, existing businesses, shareholdings. 

- The applicant has not been involved with a business failure within the last five years. 

- The applicant has not been involved in business fraud or wrongdoing. 

- The applicant has obtained occupational registration in New Zealand, where this is required for the business. 

- The applicant has gained an understanding of the New Zealand market. 

 

To be eligible under this category an applicant will need to show that the proposed business is benefiting New Zealand.

A business will be considered to be benefiting New Zealand if it promotes New Zealand's economic growth. This might be through:

 

- The introduction of new or enhanced existing technology, management or technical skills. 

- The introduction of new or enhanced products, services or export markets. 

- The creation of new - or expansion of existing - export markets. 

- The creation of new job opportunities. 

- Revitalising an existing business. The business must be trading at the time the applicant applies and must clearly have the potential to become profitable within 12 months. 

 

A foreign national applying for a Long Term Business Visa has to meet certain additional requirements. He/she should have basic knowledge of English; possess a good health and character in order to secure this visa.