August 26, 2025 • 7 mins
The number of people coming in on the Government's new Business Investor Visa could be limited.
It'll fast track residency for any foreign investors who put $2 million or more into a Kiwi business.
If a business is worth $2 million, the applicant will have to buy it, and they'll have to invest at least a quarter of its total value if it's worth more than that.
Immigration Minister Erica Stanford told Mike Hosking she thinks around 100 of these visas will be granted in the first year.
She said this isn’t an Oprah-style “everyone gets a visa” situation.
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Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 1 (00:00):
Write more visa movement. We talked about the tax treatment
earlier on in the program. So two new visa is
a pathway to residency for business migrant's ready to invest cash.
One million dollar investment into an existing business gives you
a three year work to residence pathway, while two million
allows for a twelvemonth fast tracking. Erica Stanford is of
course the Minister of Immigration and is with us. Very
good morning to you, mony mate. Somebody asked the question.
(00:21):
I thought it wasn't It wasn't an unfair question. Is
there a noticeable difference between one and two million and
the five and ten for gold and so another word,
you're dealing with completely different people.
Speaker 2 (00:31):
We are, and I was always very cautious about not
cannibalizing the active investor plus visa, which is going very well.
This is more about people who have got business experience
of running businesses. We will check that investing in a
business that they have to be here at least one
hundred and eighty four days a year, be a tax
resident and actively run the business. They have to be
(00:52):
able to speak English, there's an age limit. Whereas the
active investor plus is more about their capital and their
business connect and they only have to speak spend a
week a year here in order to get their residents.
Are very very different.
Speaker 1 (01:05):
How much of a regime is in place to make
sure the money arrives, the money stays, that they are there,
they do speak English, and they are doing what they
said they would do. Well.
Speaker 2 (01:13):
We're very stripped upfront and that we make sure that
we stick all those things off. But then we check
in along the way, and we certainly check in a
big check in at the three year mark to make
sure the business is solvent, that you're still employing the
people that you said you would, that you've created the
extra job, and that you've complied with all the other
conditions of your visa before we would offer you your residence.
Speaker 1 (01:34):
Okay, so what about the do you bring the family
in as well? That wider family.
Speaker 2 (01:38):
Yes, you can bring you well your immediate family with
you for this visa and then they would be granted
residents along with you. We're not talking huge numbers. This
is not like an OPRAH style. Everyone gets a visa,
as I think you mentioned this morning. I mean we're
thinking probably the first year between one hundred and one
hundred and fifty potentially people who would come in under the.
Speaker 1 (01:59):
What do you have any genuine sense of what's the
balance between entry point I million dollars versus demand to
come to the country anyway, no matter what rules you made.
In other words, we are attractive.
Speaker 2 (02:12):
We are very attractive, and we know that because we
can see from the active investor plus visa. I thought
we'd get two hundred applications in the first year. We
bullitzed that in the first six weeks. I think, so
there is huge demand. This one is This one will
depend on the businesses that are for sale. So if
you look at the moment businesses for sale over that amount,
there's about one hundred and eighty five. But it may
(02:32):
well be that there will be more for sale once
we are able to open up this pool of people
who are from capital to buy businesses.
Speaker 1 (02:39):
Do you limit the bit? Is it all bubble tea?
Speaker 2 (02:42):
No, we will be really careful. Bubble tea. Nothing wrong
with bubble.
Speaker 1 (02:46):
Teen There's nothing wrong with the bubble tea. But I
see a lot of bubble tea, and I just wonder
how much cash is being fun launded through that look.
Speaker 2 (02:54):
And that's the reason that this is a third iteration
of a very similar visa. The first iteration was a
long term visa and people were coming in and buying
and then recycling two dollar shops. So we've been very
careful and that we are limiting what you can purchase.
So adult entertainment, convenience stores, discount stores, drop shipping, fast
food out let's franchise is gambling, you won't be able
to use for this visa.
Speaker 1 (03:14):
Those are clean, clear categories. It's not the what's a supermarket,
what's a dairy line? And everyone argues about it.
Speaker 2 (03:22):
No, they'll be clear, clear, Okay.
Speaker 1 (03:25):
And don't get me wrong, because I'm a big fan
of immigration and we need more of it. But there
is a India, Philippines, Fiji vibe about what's going on,
particularly in a place like Auckland, maybe a little bit
of China and there as well. Are they all coming
from the same place?
Speaker 2 (03:39):
Well, obviously we don't discriminate in immigration if you.
Speaker 1 (03:43):
Know the skills that people in New Zealand do. And
after a while it becomes potentially a political issue, doesn't
it go? This place is overrun by filling the gap.
Speaker 2 (03:52):
Well, I mean what I want is this place to
be overrun by highly skilled people who've got access to
capital and connections and who can come in and purchase businesses,
keep Kiwis employed, create more jobs. And actually, you know,
if you look at business brokerage at the moment we
went out and talked to them, there is a real
problem with people who want to retire and there isn't
enough people in this country to be able to afford
(04:12):
their businesses. This is a very small niche category of
We will highly target this to people who have business
skills in the capital.
Speaker 1 (04:22):
What's the skill VI the number because I mean one
of the things that you come into and we talk
to the people who buy and sell businesses on a
regular basis, and a lot of the businesses that sell
a hospot so easy access to the country, instant job,
get the kids involved in the cafe. They couldn't run
a cafe to save themselves, but they've got a million
bucks and they've got a job. Is that good for
the country.
Speaker 2 (04:41):
Well, we'd be very careful with that, and you'd have
to have business experience. And so one of the criteria
of this visa to get around exactly that is you
have to have business experience and we will be checking that.
So in your look. Business experience is transferable. So if
you've run a successful business overseas that might be in
a hospitality, it's probably trans farable into potentially maybe into manufacturing.
(05:02):
So we'll keep an eye on that. But we're certainly
not going to be allowing people and have just got
cash and decide they want to run a cafe.
Speaker 1 (05:08):
That won't be there, because a million dollars is getting
down to, without sounding like a snob, a million dollars
is getting down to a lot of people are going to.
A million dollars is in the thing for a lot
of people anymore. It's like you've going a million dollars,
go buy your way into New Zealand.
Speaker 2 (05:20):
Well, the previous the previous visa was one hundred thousand,
so we've up to it significantly. As I said, there's
only one hundred and eighty five businesses for that amount
for sale at the moment that we could see, so
it is a small amount. But look, the settings of
the previous visa were horrendous. It had a fifty percent
decline rate. We only had about thirty applications last year.
It was just an absolute dog. And I say that
(05:42):
respectfully because it was actually a national policy. It was
a bit of a disaster, but I'm fixing it and
I think it's going to go down very well later
on you.
Speaker 1 (05:52):
While I've got you two other things. Somebody raised it yesterday.
It was ELPs, the guy who's involved in working visas
and stuff. What he wants is the holiday visa age
up to fifty from whatever it is at the moment,
thirty five or is that possible? Is that sensible? Is
it logical or not?
Speaker 2 (06:08):
We can look at that. They are all individual holiday
working holiday visas that are tied in with agreements we
have with different countries, so we have to go through
than one by one. But it's certainly something that we
can look at. It's a good suggestion, and I think
when I was in opposition, we wanted to raise it
from I think thirty to thirty five for a few countries.
Well previous government did that.
Speaker 1 (06:28):
Okay, golden visa. They need a house. We're moving rapidly
towards them being able to buy a house in this country.
Speaker 2 (06:34):
We are we're trying hard to get that across the line,
and I'm confident that it will get across the line.
Speaker 1 (06:40):
Good on you. The other thing this is only anecdotal.
So principal principal we're talking to loves you. Thinks you're
the greatest thing in education in the history of the world.
Oh there's more. He then goes and ends up at
the Ministry of Education. Nothing happens, he talks to you.
It's all on he talks to the Ministry brick Wall.
Do you have an ongoing issue with the public service
(07:03):
in this country fighting against what you're trying to do.
Speaker 2 (07:07):
I don't think so. I think certainly since I've come in,
they have shifted a huge amount. The new Secretary of Education,
Alan McGregor read is outstanding and she is changing the
culture of the place, and things have shifted a lot.
I've noticed a big shift. When I want things done,
they do do it. Of course, there's a lot of
people that work there, and then a lot of them
still do have their own views and sometimes that will happen.
(07:29):
But that's why it's killing me. But I have to
micro manage the place because sometimes you ask for something
to get done and it floats off into them. Even ever,
so my staff and I have to micro manage almost
everything that we do. But since we've had the new
Secretary of Education, things have massively improved.
Speaker 1 (07:45):
Good to hear, good to see, You appreciate your time
Erica Stamford's For more from the Mic Asking Breakfast, listen
live to news talks that'd be from six am weekdays,
or follow the podcast on iHeartRadio
Write more visa movement. We talked about the tax treatment
earlier on in the program. So two new visa is
a pathway to residency for business migrant's ready to invest cash.
One million dollar investment into an existing business gives you
a three year work to residence pathway, while two million
allows for a twelvemonth fast tracking. Erica Stanford is of
course the Minister of Immigration and is with us. Very
good morning to you, mony mate. Somebody asked the question.
(00:21):
I thought it wasn't It wasn't an unfair question. Is
there a noticeable difference between one and two million and
the five and ten for gold and so another word,
you're dealing with completely different people.
Speaker 2 (00:31):
We are, and I was always very cautious about not
cannibalizing the active investor plus visa, which is going very well.
This is more about people who have got business experience
of running businesses. We will check that investing in a
business that they have to be here at least one
hundred and eighty four days a year, be a tax
resident and actively run the business. They have to be
(00:52):
able to speak English, there's an age limit. Whereas the
active investor plus is more about their capital and their
business connect and they only have to speak spend a
week a year here in order to get their residents.
Are very very different.
Speaker 1 (01:05):
How much of a regime is in place to make
sure the money arrives, the money stays, that they are there,
they do speak English, and they are doing what they
said they would do. Well.
Speaker 2 (01:13):
We're very stripped upfront and that we make sure that
we stick all those things off. But then we check
in along the way, and we certainly check in a
big check in at the three year mark to make
sure the business is solvent, that you're still employing the
people that you said you would, that you've created the
extra job, and that you've complied with all the other
conditions of your visa before we would offer you your residence.
Speaker 1 (01:34):
Okay, so what about the do you bring the family
in as well? That wider family.
Speaker 2 (01:38):
Yes, you can bring you well your immediate family with
you for this visa and then they would be granted
residents along with you. We're not talking huge numbers. This
is not like an OPRAH style. Everyone gets a visa,
as I think you mentioned this morning. I mean we're
thinking probably the first year between one hundred and one
hundred and fifty potentially people who would come in under the.
Speaker 1 (01:59):
What do you have any genuine sense of what's the
balance between entry point I million dollars versus demand to
come to the country anyway, no matter what rules you made.
In other words, we are attractive.
Speaker 2 (02:12):
We are very attractive, and we know that because we
can see from the active investor plus visa. I thought
we'd get two hundred applications in the first year. We
bullitzed that in the first six weeks. I think, so
there is huge demand. This one is This one will
depend on the businesses that are for sale. So if
you look at the moment businesses for sale over that amount,
there's about one hundred and eighty five. But it may
(02:32):
well be that there will be more for sale once
we are able to open up this pool of people
who are from capital to buy businesses.
Speaker 1 (02:39):
Do you limit the bit? Is it all bubble tea?
Speaker 2 (02:42):
No, we will be really careful. Bubble tea. Nothing wrong
with bubble.
Speaker 1 (02:46):
Teen There's nothing wrong with the bubble tea. But I
see a lot of bubble tea, and I just wonder
how much cash is being fun launded through that look.
Speaker 2 (02:54):
And that's the reason that this is a third iteration
of a very similar visa. The first iteration was a
long term visa and people were coming in and buying
and then recycling two dollar shops. So we've been very
careful and that we are limiting what you can purchase.
So adult entertainment, convenience stores, discount stores, drop shipping, fast
food out let's franchise is gambling, you won't be able
to use for this visa.
Speaker 1 (03:14):
Those are clean, clear categories. It's not the what's a supermarket,
what's a dairy line? And everyone argues about it.
Speaker 2 (03:22):
No, they'll be clear, clear, Okay.
Speaker 1 (03:25):
And don't get me wrong, because I'm a big fan
of immigration and we need more of it. But there
is a India, Philippines, Fiji vibe about what's going on,
particularly in a place like Auckland, maybe a little bit
of China and there as well. Are they all coming
from the same place?
Speaker 2 (03:39):
Well, obviously we don't discriminate in immigration if you.
Speaker 1 (03:43):
Know the skills that people in New Zealand do. And
after a while it becomes potentially a political issue, doesn't
it go? This place is overrun by filling the gap.
Speaker 2 (03:52):
Well, I mean what I want is this place to
be overrun by highly skilled people who've got access to
capital and connections and who can come in and purchase businesses,
keep Kiwis employed, create more jobs. And actually, you know,
if you look at business brokerage at the moment we
went out and talked to them, there is a real
problem with people who want to retire and there isn't
enough people in this country to be able to afford
(04:12):
their businesses. This is a very small niche category of
We will highly target this to people who have business
skills in the capital.
Speaker 1 (04:22):
What's the skill VI the number because I mean one
of the things that you come into and we talk
to the people who buy and sell businesses on a
regular basis, and a lot of the businesses that sell
a hospot so easy access to the country, instant job,
get the kids involved in the cafe. They couldn't run
a cafe to save themselves, but they've got a million
bucks and they've got a job. Is that good for
the country.
Speaker 2 (04:41):
Well, we'd be very careful with that, and you'd have
to have business experience. And so one of the criteria
of this visa to get around exactly that is you
have to have business experience and we will be checking that.
So in your look. Business experience is transferable. So if
you've run a successful business overseas that might be in
a hospitality, it's probably trans farable into potentially maybe into manufacturing.
(05:02):
So we'll keep an eye on that. But we're certainly
not going to be allowing people and have just got
cash and decide they want to run a cafe.
Speaker 1 (05:08):
That won't be there, because a million dollars is getting
down to, without sounding like a snob, a million dollars
is getting down to a lot of people are going to.
A million dollars is in the thing for a lot
of people anymore. It's like you've going a million dollars,
go buy your way into New Zealand.
Speaker 2 (05:20):
Well, the previous the previous visa was one hundred thousand,
so we've up to it significantly. As I said, there's
only one hundred and eighty five businesses for that amount
for sale at the moment that we could see, so
it is a small amount. But look, the settings of
the previous visa were horrendous. It had a fifty percent
decline rate. We only had about thirty applications last year.
It was just an absolute dog. And I say that
(05:42):
respectfully because it was actually a national policy. It was
a bit of a disaster, but I'm fixing it and
I think it's going to go down very well later
on you.
Speaker 1 (05:52):
While I've got you two other things. Somebody raised it yesterday.
It was ELPs, the guy who's involved in working visas
and stuff. What he wants is the holiday visa age
up to fifty from whatever it is at the moment,
thirty five or is that possible? Is that sensible? Is
it logical or not?
Speaker 2 (06:08):
We can look at that. They are all individual holiday
working holiday visas that are tied in with agreements we
have with different countries, so we have to go through
than one by one. But it's certainly something that we
can look at. It's a good suggestion, and I think
when I was in opposition, we wanted to raise it
from I think thirty to thirty five for a few countries.
Well previous government did that.
Speaker 1 (06:28):
Okay, golden visa. They need a house. We're moving rapidly
towards them being able to buy a house in this country.
Speaker 2 (06:34):
We are we're trying hard to get that across the line,
and I'm confident that it will get across the line.
Speaker 1 (06:40):
Good on you. The other thing this is only anecdotal.
So principal principal we're talking to loves you. Thinks you're
the greatest thing in education in the history of the world.
Oh there's more. He then goes and ends up at
the Ministry of Education. Nothing happens, he talks to you.
It's all on he talks to the Ministry brick Wall.
Do you have an ongoing issue with the public service
(07:03):
in this country fighting against what you're trying to do.
Speaker 2 (07:07):
I don't think so. I think certainly since I've come in,
they have shifted a huge amount. The new Secretary of Education,
Alan McGregor read is outstanding and she is changing the
culture of the place, and things have shifted a lot.
I've noticed a big shift. When I want things done,
they do do it. Of course, there's a lot of
people that work there, and then a lot of them
still do have their own views and sometimes that will happen.
(07:29):
But that's why it's killing me. But I have to
micro manage the place because sometimes you ask for something
to get done and it floats off into them. Even ever,
so my staff and I have to micro manage almost
everything that we do. But since we've had the new
Secretary of Education, things have massively improved.
Speaker 1 (07:45):
Good to hear, good to see, You appreciate your time
Erica Stamford's For more from the Mic Asking Breakfast, listen
live to news talks that'd be from six am weekdays,
or follow the podcast on iHeartRadio
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