Business Investor Residence Visa

At a glance

The Business Investor Residence Visa is a permanent residence category for individuals who have previously held a Business Investor Work Visa (BD) and have successfully purchased and operated a qualifying business in New Zealand. Its objectives are to contribute to economic growth by lifting the amount of foreign capital invested in New Zealand, and to better enable the buying and selling of New Zealand businesses to ensure continuity and growth of employment [BI1]. To be eligible, the applicant must have operated the nominated business for either 3 years (if purchased for less than NZ$2 million) or 12 months (if purchased for at least NZ$2 million), must have created additional employment for a New Zealand citizen or resident, and must meet character, health, and fit and proper person requirements [BI2.1][BI2.5]. The visa is subject to conditions requiring continued operation and monitoring for a further period after grant [BI2.10].

How to apply

Applicants must provide evidence demonstrating that they meet all the eligibility requirements listed below. Processing is undertaken by a business immigration specialist according to the applicable instructions, with fairness and natural justice principles applied.

Eligibility criteria

Core requirements [BI2.1]

A principal applicant for a Business Investor Residence Visa must satisfy a business immigration specialist that:

1. The principal applicant held a Business Investor Work Visa at the time the resident visa application was made.
2. The principal applicant has successfully operated a single business in New Zealand for at least:
   • three years and meets the requirements set out in BI2.5; or
   • 12 months and meets the requirements set out in BI2.10.
3. The principal applicant has retained at least the same proportion of ownership of the business that was approved under the Business Investor Work Visa instructions.
4. The principal applicant meets the fit and proper person requirements [BM1].
5. The principal applicant has professional or occupational registration in New Zealand if registration is required for operating the business.
6. The principal applicant has been in New Zealand for at least 184 days for each 12‑month period since they began operating the business.
7. The business operated by the principal applicant employs at least five people in full‑time equivalent positions (see BD9.35).
8. The business operated by the principal applicant has created ongoing, full‑time equivalent employment for one additional New Zealand citizen or residence class visa holder, and has maintained that employment for at least 12 months at the time the resident visa application was made (see BD9.40).
9. The business operated by the principal applicant complies with specific immigration, employment and business standards (see BD9.10).
10. The business is solvent and complies with all financial, tax and legal obligations (see BD9.65).

Additionally:

• The principal applicant and any partner and dependent children included in the application must meet residence health and character requirements (see A4 and A5).
• Any partner and dependent children included in the application must meet the English language requirements that apply to secondary applicants in a Skilled Residence application.

Operating the nominated business for three years (BI2.5)

To be granted a Business Investor resident visa on the basis of operating a single business for three years, the principal applicant must meet the following requirements [BI2.5]:

1. The principal applicant must have been self-employed and actively involved (see BD9.1) in that business for three years prior to the date the residence application is made [BI2.5].
2. The principal applicant must have purchased the business, or the ownership portion of the business that they are operating, for at least NZ$1 million excluding real estate (see BD9.55) [BI2.5].
3. The single business operated by the principal applicant for three years must be the same business purchased during the Establishment stage of their Business Investor Work Visa, or the business approved through a variation of conditions (see BD7) [BI2.5].

These requirements sit alongside the core requirements in BI2.1, which the applicant must also continue to satisfy throughout the three-year operating period [BI2.1].

Operating the nominated business for 12 months (BI2.10)

To be granted a Business Investor resident visa on the basis of operating a single business for 12 months, the principal applicant must meet the following requirements [BI2.10]:

1. The principal applicant must have been self-employed and actively involved (see BD9.1) in that business for at least 12 months prior to the date the residence application is made [BI2.10].
2. The principal applicant must have purchased the business, or ownership portion of the business that they are operating, for at least NZ$2 million excluding real estate (see BD9.55) [BI2.10].
3. The single business operated by the principal applicant for 12 months must be the same business purchased during the Establishment stage of their work visa or the business approved through a variation of conditions (see BD7) [BI2.10].

These requirements sit alongside the core requirements in BI2.1, which the applicant must also continue to satisfy throughout the 12‑month operating period [BI2.1].

Evidence requirements

All documents submitted to prove that the principal applicant has operated a business in New Zealand must be produced by a reliable independent agency [BI2.15].

Evidence of business operation

Evidence that the principal applicant has operated a business in New Zealand may include, but is not limited to [BI2.15]:

• audited accounts
• bank statements showing regular revenue and expenses
• anonymised employee records
• financial statements
• GST records
• invoices for business equipment and supplies
• other tax records
• property lease documents relating to the business' site
• other documents, evidence and information a business immigration specialist considers may demonstrate the principal applicant has operated the business (for example, employment agreements, utility company invoices, sales agreements, contracts to provide products or services)

Evidence of solvency and legal compliance

Evidence that the business is solvent and complies with all financial and tax obligations is an assessment prepared by a qualified statutory accountant confirming this requirement is met [BI2.15].

Evidence that the business complies with all legal obligations is an opinion prepared by a lawyer (distinct from the lawyer who may have provided immigration advice to the applicant) confirming this requirement is met [BI2.15].

Evidence of employment requirements

Evidence that the business employs at least five people in full-time equivalent positions includes, but is not limited to [BI2.15]:

• employment records
• tax records
• assessments prepared by a qualified statutory accountant

Evidence that the business has created ongoing employment for one additional, full-time equivalent New Zealand citizen or resident and maintained that employment for at least 12 months includes, but is not limited to [BI2.15]:

• employment records
• tax records
• assessments prepared by a qualified statutory accountant

Approval in principle

Once a business immigration specialist is satisfied the principal applicant meets the requirements of the Business Investor resident visa instructions, the application is approved in principle [BI3.1]. If the application includes a partner or dependent children aged 16 or over, the principal applicant must, within six months from the date of approval in principle, submit evidence that those family members meet English language requirements (see BI2.1(c)) [BI3.1]. Resident visas may be granted once this evidence is provided.

For applicants who qualify under the 12‑month investment path (BI2.10), the approval in principle advice will also state that the resident visa is subject to conditions under section 49(1) of the Immigration Act 2009 [BI3.5].

Conditions on the resident visa

A Business Investor resident visa is granted subject to conditions under section 49(1) of the Immigration Act 2009 [BI2.10]:

• Travel condition: The visa holder must make their first entry to New Zealand within 12 months of visa grant.
• Continued operation: The principal applicant must continue to operate the nominated business for the remainder of the required operating period (if not yet completed) or, if already completed, for a further 24 months after visa grant.
• Fit and proper person: The principal applicant must continue to meet the fit and proper person requirements [BM1] throughout the condition period.
• Address notification: The principal applicant must inform INZ of any change of residential address while conditions are in force.
• Evidence of compliance: Within 3 months after the condition period ends, the principal applicant must provide evidence that the operation and fit and proper requirements have been met.

Conditions specific to the 12‑month investment path (BI2.10)

For principal applicants granted a resident visa under the BI2.10 investment path, the following conditions under section 49(1) apply in addition to, or instead of, the general conditions above, as set out in BI4.1 [BI4.1]:

1. The principal applicant must be actively involved in operating a single business for three years (inclusive of time operating the business while holding a Business Investor work visa) [BI4.1].
2. The single business must be the same business purchased during the Establishment stage of the Business Investor work visa ([BD2]) or the business approved through a variation of conditions (see [BD7]) [BI4.1].
3. The principal applicant must retain at least the same proportion of ownership of the business that was approved under the Business Investor work visa instructions for the three-year operating period [BI4.1].
4. The principal applicant must be in New Zealand for at least 184 days in each 12‑month period during those three years [BI4.1].
5. The business must employ at least five people in full-time equivalent positions (see [BD9.35]) for the three years the principal applicant operates the business [BI4.1].
6. The business must be solvent (see [BD9.65]) and comply with specific immigration, employment and business standards (see [BD9.10]) for the three years the principal applicant operates the business [BI4.1].
7. Within three months after their business has been operating for three years, the principal applicant must submit to INZ relevant evidence as set out at [BI2.15] demonstrating that they meet conditions 1 to 5 above [BI4.1].

Any accompanying partner and/or dependent children of a principal applicant granted a resident visa under BI2.10 are subject to the condition that the principal applicant complies with the conditions of their visa [BI4.1].

The condition period is the longer of: the remainder of the required operating period (if not already completed), or 24 months from visa grant if the operating period is already complete [BI2.10].

Failure to meet these conditions may render the visa holder liable for deportation [BI4.10]. After the conditions are satisfied and cancelled, the holder may apply for a permanent resident visa [BI2.15].

Cancelling section 49(1) conditions

When a business immigration specialist is satisfied that a resident visa holder has complied with the conditions imposed under section 49(1), those conditions will be cancelled in agreement with the visa holder, and the specialist will advise the visa holder in writing [BI4.5].

If a principal applicant's visa conditions are cancelled, any related visa conditions imposed on the applicant's partner and/or dependent children are also cancelled, and a business immigration specialist will advise them in writing [BI4.5].

Effect of holding the visa

While holding a Business Investor resident visa, the person may live, work, and study in New Zealand; travel in and out multiple times while the travel condition is in force; and, after conditions are cancelled, apply for a permanent resident visa [BI2.15].

Interpretation & edge cases

• Relationship with Global Impact Visa: If a Business Investor resident visa holder is later granted a Global Impact permanent resident visa, the Business Investor resident visa ceases [BI2.20].
• Transitional provisions: This category applies under previous business immigration instructions (BA). Applicants must have already held a Business Investor Work Visa; new applicants cannot enter this category directly without the work visa stage.
• Definitions: Key terms such as "actively involved", "excluded business", "lawful business enterprise", "solvent", "full‑time equivalent", and "ongoing employment" are defined in the Business Investor Work Visa instructions (BD), as cross-referenced by BI5 [BI5]. These definitions are applied consistently across the work and residence stages.
• Fit and proper person [BM1]: This requirement is assessed both at application and during the condition period. It covers matters such as character, previous bankruptcy, and business failures.
• Compliance standards: The business must continue to meet the immigration, employment, and business standards set out for Business Investor work visa holders throughout the condition period.
• Prejudice process: Before a decision is made on the residence application, any potentially prejudicial information must be disclosed to the applicant in accordance with fairness and natural justice.

Citations

• BI — Business Investor Residence Category
• BI1 — Objective
• BI2.1 — Summary of requirements for the Business Investor Category (residence)
• BI2.5 — Operating the nominated business
• BI2.10 — Conditions of a Business Investor resident visa
• BI2.15 — Effect of holding a Business Investor resident visa
• BI2.20 — Business Investor resident visa holders who were granted a Global Impact permanent resident visa
• BI3.1 — General rules for approval in principle
• BI3.5 — Approval in principle for applicants under BI2.10
• BI4.1 — Conditions to which holders of resident visas granted under these instructions may be subject
• BI4.5 — Compliance with section 49(1) conditions
• BI4.10 — Noncompliance with section 49(1) conditions
• BD2 — Business Investor work visa requirements
• BD7 — Change of business during the Operating stage
• BD9.10 — Comply with specific employment, immigration and business standards
• BD9.35 — Employ at least five people in full time equivalent positions
• BD9.65 — Solvent
• BM1 — Requirement to be a fit and proper person
• BI5 — Definitions