Long Term Business Visa: Business Plan

Applicants under the Long Term Business Visa Policy must supply a business plan to the New Zealand Immigration Service as part of their initial application assessment, or if they are applying for an extension or change to any existing business plan.

A business plan is a proposal to establish a business in New Zealand, which contains information regarding the type, validity and financial viability of such a business venture supported by documentation.

The plan must be no more than 3 months old on the date the initial application is made.

New Zealand Business Visa Assessment

Assessment of Business Plans

Your business plan will be assessed on the credibility of the information you provide and the knowledge that you display of the proposed business and the New Zealand business environment.

The NZIS will assess your business plan and whether you have:

  • Sufficient funds to establish your proposed business in New Zealand;
  • Realistic financial forecasts for the business;
  • Relevant business experience;
  • A sound business record, meaning you have not been involved in business failure or bankruptcy within the last 5 years;
  • A sound business character, meaning you have never been involved in business fraud or financial impropriety; and
  • Obtained professional or occupational registration in New Zealand if registration is required for the proposed business.

In addition, all business plans for the Long Term Business Visa Policy must outline the details of the proposed business venture in New Zealand, including the marketing, product distribution, ownership structure, and timelines of the business.

Financial Information

All Long Term Business Visa applications are required to provide detailed forecast information on the financial performance and position of the proposed business. This includes completing 3 year forecast profit and loss statements and cash flow forecasts.

You must illustrate an understanding of the revenue and cost structures relevant to the proposed business. In addition to this financial information, you will need to provide details in the visa application on how you are intending to finance the establishment of the business.

New Zealand Business Visa Assessment

Business Experience

You must provide evidence to New Zealand Immigration of your business experience and market knowledge of New Zealand in your visa application.

You must provide information on your past business experience, including:

  • How you started out in business;
  • What types of businesses you have been involved with in the past;
  • If these businesses have been successful ventures, including profitability and development;
  • Detail of specific roles and responsibilities within these businesses; and
  • References from associates, clients, and employers.

You must provide evidence of your experience in your business plan proposal that you have conducted sufficient research of the New Zealand market.

 

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