NZ’s new ‘Golden Visa’ – For Business-Savvy Investors
New Zealand has recently opened up a new Business Investor Work Visa, which offers residency for up to four years. This visa puts participants on track for permanent residency. As this is an investor visa there are some stipulations.
Applicants can either invest $1 million New Zealand Dollars (approx. £433,000) for a three-year work-to-residency track, or $2 million NZD (approx. £866,000) for an expedited one-year path.
There is an additional application fee and a requirement to help run the business you invest in.
After the designated time has passed, visa holders can then apply to stay in the country indefinitely, via the Business Investor Resident Visa.
Applicants must have funds of at least $500,000 NZD (approx. £216,500) to cover their own and their family’s needs (applicants can bring their partner and dependent children).
Applicants must prove that they’re business savvy, which the government says includes owning a company that achieves an annual revenue of $1 million NZD or employs at least five full-time workers.
The company you can invest in must be at least five years old and in stipulated industries.
How does it compare to other New Zealand visas?
New Zealand already has an Active Investor Plus golden visa program, but this has higher investment requirements ($5 million NZD for “higher-risk investments,” or $10 million NZD for “lower risk” investments) and an application fee. In return, investors and their families can apply for permanent residency.
After the visa’s requirements were lowered earlier this year, 189 investors applied in less than three months, according to Reuters, with around 45 per cent coming from the United States. The Active Investor Plus Visa is widely seen as a strong alternative to the new Business Investor Work Visa, particularly for applicants who are not seeking an active role in running a business.
For those who are less focused on investment and more entrepreneurial, additional pathways may soon be available. New Zealand is currently developing a visa for “startup entrepreneurs with scalable, innovative business ideas,” Immigration Minister Erica Stanford said in a statement. Remote workers also have an option, with a 90-day digital nomad visa available and no minimum income requirement.
