Overview

Important status note (2026): The Long Term Business Visa (LTBV) is a historical category — Immigration New Zealand stopped accepting new LTBV applications on 20 December 2013, replacing it with the Entrepreneur Work Visa from March 2014. The Entrepreneur Work Visa was itself closed to new applications on 26 August 2025 and replaced by the new Business Investor Visa (BIV), for which applications opened on 24 November 2025. The LTBV described historically in this guide is no longer available. If you are looking to build or invest in a New Zealand business today, the relevant routes are the Business Investor Visa and the Active Investor Plus visa. This guide retains the LTBV background for context but should be read alongside current INZ guidance.

New Zealand consistently ranks among the world's most desirable destinations for internationally mobile individuals and families. A stable democracy, pristine natural environment, low population density, high-quality public services, and English as the primary language combine to make it an enduring destination of choice for global investors seeking a quality of life anchor in the Pacific.

New Zealand's investor immigration portfolio has evolved considerably over recent years. The headline product — the Active Investor Plus (AIP) visa — is the principal high-capital pathway for wealthy investors seeking residence directly. Alongside it, New Zealand maintains a business-oriented pathway for entrepreneurs, business buyers, and investors who wish to actively build or operate New Zealand enterprises: as of late 2025 this is the Business Investor Visa (BIV). The Long Term Business Visa (LTBV) was the historical equivalent of this route — a temporary work visa designed for overseas business people who wanted to establish or acquire a business in New Zealand with a view to obtaining residence.

The LTBV was best understood as a bridge between initial business establishment and long-term residence. It was distinct from the Active Investor Plus visa (which grants residence directly upon meeting investment thresholds) and was aimed at entrepreneurs and active business operators who wished to build something in New Zealand rather than make a passive capital deployment. That same role is now served by the Business Investor Visa.

This guide outlines the historical LTBV framework and signposts the current routes. Immigration New Zealand (INZ) updates requirements frequently; seek professional immigration advice before proceeding.

The Current Route: Business Investor Visa (from November 2025)

The Business Investor Work Visa, open to applications from 24 November 2025, replaced the Entrepreneur Work Visa. Its headline terms are:

NZD 1 million invested in an established New Zealand business (operating for at least 5 years) — a 3-year work-to-residence pathway; or
NZD 2 million invested in such a business — a 12-month fast-track-to-residence pathway.
Applicants may purchase a business outright or acquire at least a 25% stake meeting the relevant investment threshold.
Applicants must show access to at least NZD 500,000 in settlement funds, be aged 55 or under, meet an English-language standard (IELTS 5.0 or equivalent), and meet health and character requirements.
Partners and dependent children can be included.

Investors evaluating an active-business route into New Zealand today should assess the Business Investor Visa (and, for larger passive allocations, the Active Investor Plus visa) rather than the closed LTBV. The historical LTBV detail below is retained for background only.

What was the Long Term Business Visa? (Historical)

The Long Term Business Visa was a temporary work visa allowing overseas business owners to:

Set up, purchase, or invest in a New Zealand business.
Operate and manage that business from within New Zealand.
Work toward the business performance benchmarks required to progress to residence.

The LTBV was typically granted for an initial period of around 9 months (to allow the business to be established), extendable, up to a maximum stay of three years, providing time to get the business operational and generating income.

After the LTBV period, successful business operators who had met their business plan benchmarks could progress toward residence. Note that the downstream pathway has since changed: the Entrepreneur Work Visa and Entrepreneur Residence categories that historically followed the LTBV were themselves closed in 2025, and the current active route is the Business Investor Visa described above. The text below describes the historical entrepreneur pathway for context.

Investment Requirements

The LTBV does not set a rigid minimum investment in the way the Active Investor Plus visa does. However, applicants must demonstrate:

A credible and viable business plan showing how they will establish or operate a New Zealand business.
Sufficient personal capital to fund the business and support themselves and any dependants during the visa period — INZ assessors look for genuine financial substance.
For new business establishment: typically a minimum of NZD 100,000 or more in available and committed capital, though the amount varies by business type and sector; capital-intensive sectors require proportionately more.
For business purchase or franchise acquisition: evidence of the purchase price and funding source.
Evidence that the business will generate genuine economic benefit for New Zealand — through employment of New Zealand residents, export earnings, or innovation.

Sectors of interest: New Zealand prioritises businesses in sectors with export potential, technology, agribusiness, tourism infrastructure, and services. Businesses that directly displace existing New Zealand operators or are purely domestic service-oriented with no scale potential are less favourably assessed.

Entrepreneur Pathway to Residence

The LTBV is the entry point to the Entrepreneur pathway, which consists of:

Long Term Business Visa (21 months): Establish the business.
Entrepreneur Work Visa (3 years, renewable): Demonstrate the business is operational and viable.
Entrepreneur Residence: Apply for permanent residence after operating the business for a qualifying period, meeting capital investment, employment creation, and business performance benchmarks.

Entrepreneur Residence requirements (as of 2026)

To qualify for Entrepreneur Residence, applicants typically need to demonstrate:

They have operated their New Zealand business for at least 6 months (with certain minimum points scores) or up to 24 months depending on the points total.
The business has invested at least NZD 100,000 in capital (excluding goodwill for purchased businesses unless demonstrable commercial value) — or NZD 500,000 for the 6-month pathway.
The business has created at least 3 full-time equivalent jobs for New Zealand citizens or residents; or employs fewer staff but meets higher capital thresholds.
The business is actively trading, has a registered New Zealand company, holds required permits and licences, and is contributing to the New Zealand economy.

A points system assesses business attributes to determine the required establishment period before residence can be sought.

Key Benefits

Pathway to Permanent Residence. The LTBV + Entrepreneur Work Visa + Entrepreneur Residence sequence provides a legally structured route to New Zealand permanent residency through active business contribution — an alternative for entrepreneurial individuals who do not meet the capital thresholds of the Active Investor Plus visa.

Multi-entry, work-focused visa. The LTBV allows multiple entries to New Zealand and the right to work in connection with the qualifying business.

Family inclusion. Partners and dependent children can be included on the application and will have the right to work (partners) or study (children) in New Zealand.

Stable, high-quality jurisdiction. New Zealand offers political stability, English-language environment, world-class primary and secondary education, a universal public healthcare system (with supplementary private options), and outstanding natural amenity.

OECD member economy. New Zealand's legal system (English common law), financial infrastructure, and regulatory environment offer international investors a familiar and trusted framework.

Eventual citizenship pathway. After five years of New Zealand permanent residency, individuals may apply for New Zealand citizenship — one of the most respected passports globally, offering visa-free or visa-on-arrival access to approximately 185 countries as of 2026.

Eligibility Requirements

Hold a valid passport.
Have a minimum of three years' direct business experience (ownership or senior management of a business) — two years accepted in some circumstances.
Have sufficient personal capital to fund the business establishment and living costs.
Present a credible, detailed business plan meeting INZ standards.
Be of good health (medical examination required) and good character (police clearance from all countries of residence over the past five years).
Be under 55 years of age for the standard Entrepreneur Residence pathway (age cap applies; the LTBV itself does not have a strict age cap but the subsequent pathway does — confirm current requirements with INZ).
Funds must be genuine, lawfully earned, and transferable to New Zealand.

Application Process

Step 1 — Business planning. Develop a comprehensive New Zealand business plan. The business plan must address: business concept and market analysis, investment capital and source of funds, New Zealand employment projections, financial projections (three years), marketing strategy, and the applicant's personal experience and qualifications. INZ assessors scrutinise business plans rigorously — generic or vague plans are a common cause of refusal.

Step 2 — LTBV application to INZ. Submit the LTBV application through INZ's Immigration Online system or through a licensed immigration adviser. Required documents include: business plan, CV and business experience evidence, financial statements and bank evidence of available capital, police clearances, medical certificates, passport, and relationship/family documentation for dependants.

Step 3 — INZ processing. INZ reviews the application, may request additional information, and issues a decision. Processing times have historically ranged from two to eight months depending on application completeness and INZ workload.

Step 4 — Entry to New Zealand and business establishment. On visa grant, travel to New Zealand, register the company with the New Zealand Companies Office, open business banking, and begin executing the business plan.

Step 5 — Entrepreneur Work Visa application. Before the LTBV expires (or within the 21-month window), apply for the Entrepreneur Work Visa, demonstrating business progress against the plan.

Step 6 — Entrepreneur Residence. After meeting the capital, employment, and operational benchmarks, apply for Entrepreneur Residence (permanent).

Tax Implications

New Zealand operates a residency-based worldwide income tax system. Tax residents are taxed on income from all sources globally. Non-residents are taxed on New Zealand-sourced income only.

Residency for tax. An individual is a New Zealand tax resident if they have a permanent place of abode in New Zealand, or if they are present in New Zealand for more than 183 days in any 12-month period.

New resident exemption (transitional residency). New to New Zealand? Transitional residents — those who have not been New Zealand tax residents in the previous ten years — benefit from a four-year exemption on most foreign-sourced income (not including foreign employment income or income from business activities conducted through New Zealand entities). This is one of the most generous new-resident tax concessions in the OECD and provides significant planning opportunities for HNW investors.

Income tax rates. New Zealand's income tax rates are progressive, with a top marginal rate of 39% (introduced in 2021) on income over NZD 180,000.

No capital gains tax. New Zealand does not have a comprehensive capital gains tax, though the "bright-line test" subjects certain residential property sold within a specified holding period to income tax. Capital gains on share portfolios and non-residential property are generally not taxed.

No inheritance or gift tax. New Zealand has no estate duty or inheritance tax.

PIE investments. Portfolio Investment Entities (PIEs) — New Zealand's managed fund structures — are taxed at a capped rate (currently 28%), which is lower than the top individual income tax rate, offering a tax-efficient vehicle for domestic investment.

The four-year transitional residency exemption makes careful pre-arrival tax structuring important. Investors should ideally crystallise offshore capital gains and structure income-producing assets before becoming New Zealand tax resident.

Practical Considerations

Business types. Successful LTBV applications tend to involve genuinely new-to-market business concepts, significant export potential, or substantive job creation. Businesses that merely replicate existing New Zealand operations without differentiation or scale are harder to justify to INZ assessors.

Regional New Zealand. New Zealand's immigration policy provides additional incentives for businesses establishing in regional areas outside Auckland. Regional business establishment may attract higher points in the Entrepreneur Residence points assessment.

Property. New Zealand has restrictions on foreign property purchase — overseas investors (those who are not citizens or residents) generally cannot purchase residential property. LTBV holders on temporary visas are subject to these restrictions until they obtain residence.

Cost of living. Auckland is significantly more expensive than other New Zealand cities. Wellington (the capital), Christchurch, and regional centres offer a lower cost base for business establishment while maintaining quality of life.

How Global Investments Can Help

Global Investments supports internationally mobile clients in structuring New Zealand business and residency pathways as part of broader Pacific and Anglophone residency planning. Our New Zealand services include:

Pathway selection — comparing the Long Term Business Visa / Entrepreneur pathway against the Active Investor Plus visa based on the client's capital position, business appetite, and residency timeline.
Business plan development — working with our INZ-experienced New Zealand advisory partners to produce a credible, assessor-grade business plan.
Capital structuring — advising on the most efficient route for capital transfer to New Zealand, pre-arrival tax structuring, and utilisation of the transitional residency exemption.
Company formation and banking — coordinating New Zealand company registration and business banking setup.
Tax planning — modelling New Zealand tax residency onset, transitional exemption planning, and ongoing compliance.
Family relocation planning — schooling, housing, and settling-in support coordination.

Requirements and processing standards change. Please seek independent professional legal and immigration advice. Contact our team for a personalised assessment.

This guide is for general information only and does not constitute legal, financial or immigration advice. Programme details, investment thresholds, and eligibility requirements change; always verify current requirements with a qualified immigration lawyer and financial adviser before making any investment or application. Investment values can fall as well as rise.

New Zealand Long Term Business Visa: Residency for Entrepreneurs and Investors