In a significant overhaul of its business immigration framework, the New Zealand Government has provided more details on the Business Investor Visa (BIV), set to open for applications on 24 November 2025. This new visa category replaces the Entrepreneur Work Visa, which was closed due to low uptake and limited economic impact. The BIV is designed to attract experienced international investors who are ready to actively manage and grow established businesses in New Zealand.
Two Investment Pathways
The BIV offers two distinct investment options, each tailored to different levels of investor commitment:
• NZD $1 million investment: Grants a three-year work-to-residence pathway.
• NZD $2 million investment: Offers a 12-month fast-track to residence, provided the investor maintains ownership for at least three years.
Applicants may either purchase a business outright or acquire a minimum 25% ownership stake in an existing New Zealand business. The business must be at least five years old and employ at least five full-time staff.
Key Eligibility Criteria
To qualify for the BIV, applicants must meet several requirements:
• Be 55 years or younger at the time of application.
• Demonstrate English proficiency (IELTS 5.0 or equivalent).
• Provide evidence of NZD $500,000 in settlement funds to support themselves and their family.
• Pass health and character checks.
• Show proven business experience, such as owning or managing a business with significant revenue or employment.
The visa is valid for up to four years, during which the investor must actively manage the business and meet performance benchmarks to qualify for the Business Investor Resident Visa (BIRV).
Transition from Entrepreneur Work Visa
The BIV marks a departure from the previous Entrepreneur Work Visa, which was criticized for its complexity and unpredictability. The new visa removes the points-based system and the requirement for businesses to be “innovative” or “high-growth,” making the application process more transparent and accessible.
Business Restrictions
Not all businesses qualify for investment under the BIV. The following types are excluded:
• Drop-shipping operations
• Gambling businesses
• Tobacco or vaping product manufacturers
• Adult entertainment
• Convenience stores and discount shops (e.g., NZD $2 shops)
• Immigration advisory services
• Fast food outlets and franchised businesses
• Home-based businesses
These exclusions aim to ensure that investments contribute meaningfully to New Zealand’s economy and employment landscape.
Pathway to Residency
After successfully operating the business for the required period, investors may apply for the Business Investor Resident Visa. To qualify, they must:
• Maintain the same level of ownership.
• Be actively involved in managing the business.
• Sustain at least five full-time equivalent jobs.
• Create and maintain one new full-time job for a New Zealand citizen or resident.
• Meet time-in-country requirements (184 days per year for three years).
• Demonstrate that the business remains solvent.
Complementing the Active Investor Plus Visa
The BIV complements the Active Investor Plus Visa (AIP), which was refreshed in April 2025. While the AIP targets high-net-worth individuals investing NZD $5 million to $10 million in managed funds or direct investments, the BIV fills a crucial gap by offering a more hands-on, operational pathway for mid-level investors.
Together, these visa categories form a three-tiered strategy:
1. Active Investor Plus Visa – High-value capital investment.
2. Business Investor Visa – Investment and active business management.
3. Upcoming Startup Visa – For scalable, innovative new ventures (details pending).
Economic Impact and Outlook
Immigration Minister Erica Stanford emphasized that the BIV is part of a broader strategy to stimulate economic growth, create jobs, and revitalize existing businesses. The government expects the BIV to attract 50 to 100 applicants in its first year, with potential to scale up to 500 annually as the program matures.
Sectors likely to benefit include accommodation, manufacturing, and trades and services, where many businesses are currently listed for sale within the NZD $1–2 million range.
Business selection – Application process
Immigration New Zealand (INZ) will assess the suitability of the business as part of the BIV application process.
Here’s how the process works:
Business Suitability Assessment by INZ
When you apply for the BIV, you must nominate an established New Zealand business that you intend to invest in and actively manage. INZ will evaluate whether the business meets the criteria for an acceptable investment, which include:
1. Business Age and Operation:
• The business must have been trading for at least 5 years.
• It must be lawfully operating in New Zealand at the time of application.
2. Ownership and Investment Threshold:
• You must purchase the business outright or acquire at least 25% ownership.
• The purchase price must be at least NZD $1 million, excluding property value and GST.
3. Employment Requirements:
• The business must employ at least 5 full-time equivalent staff.
4. Compliance with Standards:
• The business must comply with immigration, employment, and business regulations.
• It must not be on any stand-down lists for breaches of employment or immigration laws.
• It must not have been involved in previous visa applications under the BIV, Entrepreneur, or similar categories in the past 10 years.
5. Excluded Business Types: As set out above, INZ will not approve investments in certain types of businesses, including:
• Drop-shipping
• Gambling
• Tobacco or vaping product manufacturing
• Adult entertainment
• Convenience stores (e.g., dairies)
• Discount/value stores (e.g., $2 shops)
• Fast food outlets
• Franchised businesses
• Home-based businesses
• Immigration advisory services or businesses involving Licensed Immigration Advisers.
Evidence Required
As part of your application, you must submit detailed documentation to demonstrate the business’s eligibility. This includes:
• Proof of business ownership or purchase agreement
• Financial statements showing the business’s trading history
• Staffing records to confirm employment levels
• Compliance documentation (e.g., tax records, employment agreements)
• Business plan outlining how you will manage and grow the business
Timeline for Review
After your application is submitted, INZ will review the business details during the Establishment Stage (first 12 months of the visa). You must provide evidence within the first 9 months that you have purchased and started running the business. If this is not done, the visa will expire after 12 months.
How can iNZvest help?
iNZvest prepared business plans for over 20 successful applications under the now redundant Entreprenuer Visa. This Visa was criticised for its high rate of rejection with Immigration New Zealand. In reality, it was the lack of business acumen, or a strong application and business plan that lead to failure and not the policy itself.
Contact iNZvest for assistance with;
- Selection of eligible businesses to invest
- Due diligence services; and
- Preparation of a strong business plan.