New Zealand’s Investor and Entrepreneur Visa Fees to Surge: What You Need to Know 

New Zealand’s government is set to implement significant increases in visa application fees, particularly affecting investors and entrepreneurs. These changes, which will take effect on October 1st, 2024, aim to better reflect the costs of processing visas and the benefits provided by immigration services. 

Understanding the Fee Increases 

Immigration Minister Erica Stanford announced the new fee structure, which is projected to generate over $563 million over four years, or approximately $140 million annually. This figure contrasts with the previously forecasted deficit of $32.2 million across all three accounts: visa fees, New Zealand Electronic Travel Authority (NZeTA) fees, and the immigration levy. 

The new fees are designed to align with the actual costs associated with visa processing. This includes managing higher-risk applications, addressing increased compliance needs, combating migrant exploitation, handling more asylum claims, and upgrading Immigration New Zealand’s ICT systems. Despite the substantial revenue increase, Stanford has declined to address the significant gap between immigration revenues and costs. 

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How Fees Are Structured: Location and Citizenship 

The new visa fees are tiered based on the applicant’s location and citizenship: 

  • Band A Fees: For those submitting applications from within New Zealand. 
  • Band B Fees: For citizens of Pacific countries applying from outside New Zealand. 

Band C Fees: For all other international applicants. 

Significant Increases for Entrepreneur Visas 

Entrepreneur visas will see some of the most significant fee increases: 

  • Entrepreneur Work Visa: The fee will rise from NZD 3,710 to NZD 11,320, with an additional immigration levy of NZD 1,060. 
  • Entrepreneur Residence Visa: The fee will also increase to NZD 11,320, with a higher immigration levy of NZD 3,570. 

These changes represent a substantial financial consideration for those planning to invest in New Zealand’s business landscape. 

Investment Visa Fees: A 154% Increase 

The Active Investor Plus Category visa will see a considerable fee increase: 

  • Visa Fee: Rising from NZD 4,750 to NZD 12,070. 
  • Immigration Levy: Increasing from NZD 3,150 to 15,400, a 283% increase. 
  • Total Cost: The overall cost will now be NZD 27,470, compared to the current NZD 7,900. 

This drastic increase highlights the government’s intention to ensure that those who benefit most from New Zealand’s investment opportunities contribute appropriately to the costs of managing immigration services. 

Other Notable Fee Increases 

While the most significant hikes are in the Entrepreneur and Investor categories, other visa types will also see increases: 

  • Parent Retirement Visa: The fee will rise from NZD 3,710 to NZD 9,430. 

A Critical Deadline Approaches 

With the new fee structure taking effect on October 1st, 2024, there is likely to be a surge in visa applications as individuals and businesses rush to submit their documents under the current, lower fees. Applicants who complete their submissions before this deadline will qualify under the existing fee structure. 

This deadline is particularly crucial for those considering entrepreneur or investor visas, as the financial implications of these changes are significant. Prospective applicants should carefully evaluate their plans and timelines to avoid the higher costs. 

Conclusion

The upcoming changes to New Zealand’s visa fees represent a substantial shift in the cost of immigration for entrepreneurs and investors. A surge in inquiries and applications leading up to the October 1st deadline is expected. Applicants should act quickly to secure their visas under the current fee structure, ensuring they meet all necessary requirements, including medical and police checks, and have all supporting documentation in order. After October 1st, the increased costs will need to be factored into any plans involving immigration and investment in New Zealand. 

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