On Friday, 13 December Immigration New Zealand (INZ) announced
that the Long Term Business Visa (LTBV) Category will be closing at 4pm
on Friday, 20 December. The LTBV is going to be replaced with a new
“Entrepreneur Work Visa” and most likely an EOI points based system will be
introduced. There have been concerns for a significant period of time as to the
calibre of LTBV applications moving through the system, particularly those
based on very small franchise type business purchases. This concern is echoed
in advice being provided to INZ at this stage that even though the full policy
requirements will be released next year, a minimum capital investment of
$100,000.00 for the new category will be introduced.
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