On Monday, 24 March Immigration New Zealand (INZ) made some substantial changes to the Business Migration policies. We set out below a brief summary of the new policies, and the material changes to the existing categories:
ENTREPRENEUR WORK VISA
A new work visa has been introduced by INZ to replace the Long Term Business Visa (LTBV). Unlike the prior LTBV, the new Entrepreneur Work Visa is a strictly regulated three year work visa that will allow an individual to undertake self-employment in New Zealand, with a view to qualifying for New Zealand permanent residence under the new Entrepreneur Residence Category (refer below).
A new points system has been introduced, and strict definitions have been applied to an individual’s ability to claim points under the Category. In order for an application to be successful for an Entrepreneur Work Visa, an application must score a minimum of 120 points.
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