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.

From November 2002, the following procedure for grant of Long Term Business Visa & Permit for New Zealand has been introduced:

• Applicants must meet the mandatory English language requirement, generally by providing an IELTS test result with an average band score of 4. Applicants can also demonstrate their English language proficiency by providing documents confirming that they have either studied or lived and worked in an English language environment.

• Applicants must demonstrate that they have relevant business experience by providing evidence confirming that they owned or managed a similar business in their home country.

• Applicants must also prepare and submit a realistic business plan demonstrating an understanding of business environment of New Zealand; including realistic financial forecasts; evidence of business experience that is relevant to their business proposal; evidence of their knowledge about the proposed business and the New Zealand business environment and information about how the proposed business will benefit New Zealand.

• If the application is successful, initially a visa is granted for 9 months and applicants are required to transfer the proposed funds for making capital investment mentioned in the business plan within that period and further take steps to establish the business in accordance with the plans submitted to Immigration New Zealand. After the funds had been transferred and steps had been taken to establish the proposed business in New Zealand, the applicants can seek extension of the initial visa for the remaining period of 27 months of the total duration of Long Term Business Visa & Permit. Another extension for 3 years can be applied after the expiry of the first term of 3 years.

Applicants will be eligible for permanent residence (under the Entrepreneur Category) after two years of implementing the proposed business plan and establishing and operating the business. Residence will be granted if the applicant can demonstrate that the business has been successful and is benefiting New Zealand.