This is the 'permanent residence' stage of the process for those that started out with the Long Term Business Visa or who have been owning and operating a business in New Zealand for at least 24 months... Under this category applicants are required to prove that their business has been successfully established and operating and is of clear benefit to New Zealand (recall that under the LTBV applicants need only demonstrate potential benefit to New Zealand so the bar is now higher). This means that the business will need to be trading profitably or showing the potential to be profitable. Medicals, character checks and so on all need to be repeated...
Entrepreneur Plus Category
This is a permanent residence application for those that plan on (future tense) owning and operating a business here in New Zealand for a minimum of two years.
It is available to those who have:
- Presented a viable and credible business plan as part of a Long Term Business Visa
- Plans to buy, buy into or establish a business in New Zealand
- Plans to create three positions filled by New Zealanders that did not previously exist
- Plans to invest $500,000 in that business
- An acceptable standard of English IELTS Level 4
- Met health and character criteria
Although those that apply under this category must have been granted a Long Term Business Visa/Permit the Entrepreneur application can be filed immediately thereafter. Residence will be granted under Section 18A of the Immigration Act.
This basically means that the investment of $500,000 must be maintained for two years, the positions created must be maintained (or at least three positions still be in existence at the end of the two years) and the business must either be profitable or 'clearly' capable of being so.