The Ministry of Business, Innovation and Employment (“MBIE”) is looking to make some changes to the Investor Category and the Long Term Business Visa. However, it is anticipated that the changes will not come into force until sometime next year. The MBIE may be looking to put to place a new $5 million Investor Category.
Changes in Long Term Business Visa. In contrast, there will be major changes to the Long Term Business Visa policy some time nextyear given that this policy has not changed in the last ten years. Due to the influx of marginal applications under this category, the Business Migration Branch (“BMB”) is intending to tighten the policy to ensure that the applications being lodged will create an actual benefit to the NZ economy as intended. The BMB intends to make some minor changes in April or March this year to clarify the provisions that have been questioned in the last year. In particular, the change may provide some clarity to the definitions of the following terms:
“new business”, “creation of employment” and “capital in the business”.
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