Immigration New Zealand (INZ) has announced changes to the Business Investor Work Visa, effective 6 July 2026, that make it easier for investors to put their money into New Zealand businesses in ways that better match how business is actually done.
This guide covers everything in plain English: what the visa is, who can apply, the recent changes, how the visa can lead to residence, and the documents you'll need.
What Is the Business Investor Work Visa?
This visa is for experienced business people who want to invest in and actively run an established business in New Zealand. It's designed to bring capital, skills, and international business connections into the country.
Key facts:
- Length of stay: Up to 4 years
- Cost: From NZD $12,380
- Can lead to residence: Yes
This visa lets you:
- live and work in New Zealand
- invest in and run an established business
- study for up to 3 months in any 12-month period
- include your partner and dependent children in your application
Who Can Apply
To apply for this visa, you must:
- show you can invest at least NZD $1 million in an established business (standard pathway), or at least NZD $2 million (fast-track pathway)
- have at least NZD $500,000 in reserve funds to support yourself, and your family if included, while running and growing your business
- nominate and carry out due diligence on a business to purchase that meets INZ's requirements
- intend to be actively involved in running the business
- intend to create at least 1 new full-time job for a New Zealand citizen or resident
- have, or intend to get, any professional or occupational registration needed to run the business
- be aged 55 years or younger when you apply
- 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
Minimum investment
You must show you can invest at least NZD $1 million in an established business. This amount does not include:
- goods and services tax (GST)
- the value of the business's property
- fees and transaction costs
You'll need to prove that the funds or assets for your investment are owned by you (or you, your partner, and dependent children if included), and that they were earned or acquired lawfully. Evidence of ownership can include bank statements, title deeds, property valuations, share certificates, business ownership documents, and asset valuations. Evidence that the money was lawfully earned can include tax returns, pay slips, business financial statements, dividends, receipts, share trading profits, or evidence of inheritance. Your funds cannot be borrowed, except in limited circumstances, and cannot have a loan or bond against them.
Reserve funds
On top of your investment, you must have at least NZD $500,000 in reserve funds to support yourself and your family while you build your business. These funds must be accessible from New Zealand and can be shown through bank statements, title deeds, property valuations, share certificates, or asset valuations.
Business experience
You need at least 3 years of acceptable business experience. This can be:
- paid self-employment in a business, charity, or non-governmental organisation with at least 5 full-time employees, or annual revenue of at least NZD $1 million, or
- paid senior management experience in an organisation with at least 5 full-time employees under your direct management and annual turnover of at least NZD $5 million
Senior management experience includes things like approving significant costs, approving business plans, ensuring tax and legal compliance, making financial decisions, managing teams, overseeing operations, and strategic planning.
The business you invest in
The business you nominate 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 (excluding property value and GST), giving you at least 25% ownership
- employ at least 5 full-time equivalent staff
- not already be owned by you or a family member
- not have been used in an approved investor or entrepreneur visa application in the last 10 years
As part of your application, you'll need to submit a completed Business Proposal form, a valuation from a qualified statutory accountant, confirmation of financial due diligence from an accountant, and confirmation of legal due diligence from a New Zealand lawyer (who must be different from your immigration lawyer, though they can be from the same firm).
Health, character, and English requirements
- Health: You'll need a chest X-ray and medical examination.
- Character: If you're 17 or older, you must provide a police certificate from your country of citizenship and any country you've lived in for 5 years or more since turning 17. Certificates must be less than 6 months old and translated into English if needed.
- Fit and proper person: All businesses you've had influence over must have complied with immigration, employment, and tax laws. You must never have been investigated by the Serious Fraud Office or Police for offences from business dealings, and must have no convictions involving dishonesty or business fraud.
- English language: You can show your English ability through citizenship, work, or study history, or by taking an English language test (valid for up to 2 years).
Bringing your partner and children
If you include your partner and dependent children, you'll need to show a genuine relationship (such as a marriage certificate) and that they meet health, character, and identity requirements. Your partner may get a work visa, and children may get a student or visitor visa. Your partner and children don't need to meet English requirements for this visa, but they will for residence, unless they pay for English classes instead.
What's Changed From 6 July 2026
Three main updates have been introduced:
1. You can now invest in franchise businesses
As long as the franchise meets the visa's existing investment requirements, it's now an eligible option. This opens the door to a well-established and common way of doing business.
2. You can purchase a business through a New Zealand resident entity
This means you don't have to buy a business directly in your own name. You can do it through a locally based company or entity, which reflects how many business purchases actually happen in practice.
3. You can use gifted funds, if they were lawfully earned
Previously, investment funds needed to come directly from the applicant. Now, funds gifted to the applicant can also count, as long as the money was earned legally in the first place.
How Long Can You Stay
The Business Investor Work Visa is valid for up to 4 years, split into two stages:
- Establishment stage (first 12 months): Purchase your nominated business and start running it. Within the first 9 months, you must show evidence you've done this.
- Operating stage (remaining years): Continue running and growing the business.
If you don't provide acceptable evidence within the first 9 months, your visa will expire after the 12-month Establishment stage.
If your original nominated business sale falls through for reasons outside your control, you may be able to change your nominated business once, within the first 6 months, provided the replacement business also costs at least NZD $1 million.
How This Visa Can Lead to Residence
The Business Investor Work Visa is designed as a stepping stone to residence. How quickly you can get there depends on how much you invest.
Standard pathway
Invest at least NZD $1 million, and you may become eligible for a Business Investor Resident Visa after running your business for 3 years.
Fast-track pathway
Invest at least NZD $2 million, and you may become eligible after just 12 months. Even on the fast-track pathway, you must still actively run the business for a total of 3 years across both visas, and conditions are applied to your resident visa to make sure this happens.
To move from the work visa to the resident visa, you'll also need to have:
- spent at least 184 days a year in New Zealand
- kept ownership of at least the same share of the business that was originally approved
- created and maintained at least 1 new full-time job for a New Zealand citizen or resident, for at least 12 months
- kept at least 5 full-time equivalent staff employed
- kept the business financially solvent
The process generally works like this:
- Apply for a Business Investor Work Visa after finding and completing due diligence on an acceptable business.
- Complete the Establishment stage by purchasing and starting to run the business within the first 12 months.
- Continue through the Operating stage, working towards residence requirements.
- Apply for a Business Investor Resident Visa once you've met the time and business requirements.
- Once granted, your Business Investor Resident Visa lets you stay in New Zealand indefinitely, though conditions may apply until you've completed the full 3-year running requirement.
- After holding a resident visa for at least 2 years and meeting all conditions, you can apply for a Permanent Resident Visa.
If you need more time
If you haven't yet met the residence requirements (for example, you haven't run the business for the full 3 years, or haven't created the required job), you can apply for one further Business Investor Work Visa, known as a renewal, valid for up to 2 years. To qualify for a renewal, your business must still meet the employment, compliance, and ownership requirements, and you must have spent the majority of your time in New Zealand running it.
Why Is INZ Making These Changes?
INZ says the goal is to align the visa's rules with how real-world investment actually happens. By widening what counts as an eligible investment and how funds can be sourced, the changes aim to make it simpler for investors to get involved directly with New Zealand businesses. This is expected to support business growth, innovation, and job creation across the country.
What This Means for You
If you're an investor considering this visa, these changes may open up new paths, such as:
- Buying into a franchise instead of only building a business from scratch
- Structuring your purchase through a company rather than personally
- Using gifted capital toward your investment, provided the funds were lawfully earned
Documents You'll Typically Need
When you apply, you'll generally need to provide:
- your passport (a certified copy is recommended)
- 2 acceptable photos
- evidence of your investment funds
- evidence of your reserve funds
- evidence of your business experience
- a completed Business Proposal form
- confirmation of any required professional or occupational registration
- evidence of a chest X-ray and medical examination
- police certificates (with certified translations if not in English)
If including your partner and children, you'll also need documents proving your relationship, proof of identity, and police certificates or medical evidence if required.
Frequently Asked Questions
What changed with the Business Investor Work Visa?
From 6 July 2026, applicants can invest in eligible franchise businesses, purchase businesses through a New Zealand resident entity, and use gifted funds if the money was lawfully earned.
Can I use gifted funds for my investment?
Yes. INZ now allows gifted capital to count toward your investment, as long as the funds were lawfully earned. The announcement doesn't specify further documentation requirements, so it's worth confirming exact evidence needs with a licensed adviser or INZ directly.
Do all franchises qualify?
The franchise still needs to meet the visa's existing investment requirements. Not every franchise opportunity will automatically qualify.
Can I buy a business through a company instead of in my own name?
Yes. You can now purchase a business through a New Zealand resident entity, rather than only in your personal name.
How much do I need to invest?
At least NZD $1 million for the standard pathway, or at least NZD $2 million if you want the faster route to residence.
How long does it take to become eligible for residence?
3 years of running your business under the standard pathway, or 12 months under the fast-track pathway if you invested at least NZD $2 million. Either way, you must actively run the business for a total of 3 years across both visas.
Do I need business experience to qualify?
Yes. You need at least 3 years of acceptable business experience, either as a senior manager or through paid self-employment in a qualifying business.
What kind of business can I invest in?
It must have been trading for at least 5 years, be worth at least NZD $1 million (excluding property and GST), give you at least 25% ownership, and employ at least 5 full-time equivalent staff.
Can I bring my family with me?
Yes. You can include your partner and dependent children in your application, provided you meet the relationship, health, and character requirements for them.
What happens if the business sale falls through?
You may be able to nominate a replacement business once, within the first 6 months of your visa, if the original sale fell through for reasons outside your control.
What if I don't meet residence requirements within the visa's term?
You can apply for one further Business Investor Work Visa (a renewal) of up to 2 years, if you need more time to meet the residence requirements.
Where can I find the full visa requirements?
Check the official Business Investor Work Visa page on the INZ website for the complete eligibility criteria.
Thinking About Investing in New Zealand?
This visa involves detailed requirements around investment, due diligence, and long-term commitments to running a business. Our licensed immigration advisers at Kiwi Fern Immigration Services can help you understand whether your investment plans fit the visa criteria and guide you through the entire process, from your first application through to residence.
Book a Paid Consultation
Sources and further reading
This post is general information only and is not immigration advice. Please speak with a licensed adviser about your specific situation.
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