One of the best things about this visa process is that it gives you a nice long timeframe where you can plan and make the move.
T'was the night before Christmas Posted by Paul on Dec. Originally established as a pathway to residency for those who wished to come to New Zealand and become financially self sustaining, applicants were required to have a well researched business plan that met a fairly clear benefit test to the country.
In hindsight that benefit test was set too low in the eyes of the Departmental officials who implement the policy. This Category has always been subject to the ever changing mood of INZ, although none of those changes was ever set down in the rules. This has led to a policy that is both poorly understood by applicants and immigration officers alike and open to widespread abuse by both applicants and the Department.
The current to be no longer as of the end of today policy sees around applications annually which is quite a few considering the intent of the policy is for people to establish or purchase businesses in New Zealand. Let me give you a few examples.
Other officers will live with more modest means and believe that a third of that is required. There is a list of criteria within the rule book; however it was arguably poorly written and therefore open to various interpretations.
Before we dive into this, it is important to note that anyone who has a current LTBV in process will be covered by the existing rules and so the proposed changes only impact on those who have yet to lodge a formal application. That does mean ongoing uncertainty as we doubt INZ will be able to resist trying to implement a higher bar test of benefit to LTBV renewals at nine months and the Resident Visa that follows.
In terms of the new policy - put simply INZ is returning to form, trying to cut out as much thinking as they can and putting in place a points system which measures various criteria.
The Government has decided to close the current policy down today, release the details of the new policy in February date to be determined and then actually make it effective from March What little we do know is that the policy will utilise a points system to allow applicants to gauge for themselves the likelihood of success and hopefully provide some clarity around the actual criteria.
Points will very likely be allocated based on age, capital investment, level of turnover, business experience, job creation and the level of innovation not sure how you measure that. Similar to the Skilled Migrant Category, INZ has always endeavoured to move migrants out of Auckland and in to the smaller parts of the country to stimulate growth.
The Minister sums up his intention of the new policy in the press release as follows: We support any move to greater transparency that leads to both a higher success rate and a better outcome for New Zealand.
Based on the information publicly released so far we question why it has taken INZ so long to work this out and whether or not they have done enough to fix the issues. Time will tell of course. For anyone who is considering a Long Term Business Visa application stay tuned.
We will be sending out the details as we receive them along with our interpretation of what they mean in the real world. It has been an interesting one to say the least as the New Zealand economy continues to outperform its developed country peers and surges intothe Auckland Council debates whether to kick out the current Mayor who has a penchant for extra marital activities and the folks in Christchurch continue to restack the bricks and mortar.
We will be back in January officially open on the 13th with a new round of seminars kicking off in the same month — this time featuring for the first time Jakarta followed later by Hong Kong.
To all of our clients and those who have read and enjoyed our blogs in we wish you a very Merry Christmas and a Happy New Year.
To learn more about cookies, including how to control cookies, please read our Cookies Policy. The Long Term Business Visa & Permit caters for applicants who intend to establish and operate a business in New Zealand.
Applicants under this category can subsequently apply for residence under the Entrepreneur Category. Liberal business and taxation rules ensure that business and families strive and enjoy a great quality of life.
Singapore is a gateway for ASEAN countries and a major regional hub for financial services. application (COP) for the Long Term Business Visa (LTBV) which the complainant currently held. 4. The complainant’s original business plan dealt mainly with the exporting of healthcare products from New Zealand.
The COP proposed to change this to an import/export business. 5. On 26 March the COP was withdrawn by the adviser. 6. • applicants who hold a work visa under the Entrepreneur Work or Long-Term Business Visa Category (LTBV) and are applying for a further work visa, or • applicants who are applying for consent to change their business plan.
A thorough preparation of business plan that is well informed and realistic in terms of the current business circumstances of the relevant industry is, therefore the key to a successful application for the Entrepreneur Category Visa.