BC2.10 Business plan (26/07/1999)

BC2.10.1 Definition of business plan

A business plan is a plan to establish a specific business in New Zealand, which contains information as set out in the business plan form, and is supported by appropriate documentation.

BC2.10.5 Assessment of a business plan

1. In order to assess a business plan, the business immigration specialist must first be satisfied that the principal applicant:
   1. has access to sufficient capital to finance the proposed business, and
   2. has provided realistic financial forecasts, and
   3. has relevant business experience, and
   4. has not been involved in bankruptcy or business failure within the last 5 years, and
   5. has not been involved in business fraud or financial impropriety, and
   6. has obtained professional or occupational registration in New Zealand if registration is required for operating the proposed business, and
   7. has provided sufficient supporting documentation.
2. Business plans will be assessed on the basis of the credibility of the information provided and the knowledge that the principal applicant shows about the proposed business and the New Zealand business environment.
3. The assessment is made by means of the NZIS Proposal Assessment Tool, which has four sections. Each section is assessed individually and assigned a weighting as follows:
   • Section A - Business Outline 30%
   • Section B - Financial information 25%
   • Section C - Business experience 25%
   • Section D - New Zealand market knowledge 20%

   The overall assessment of the business plan is based on the weighted average of all four sections.

4. The assessment by means of the NZIS Proposal Assessment Tool serves as a guide for the business immigration specialist in assessing an application under this category.
5. The NZIS may submit any business plan to an independent person or persons for vetting. They will offer an independent assessment and advice, which will be considered by the business immigration specialist in making a decision.

BC2.10.10 Evidence of a business plan

Principal applicants must provide a business plan that is no more than 3 months old at the time their application is made, together with supporting documentation as listed in section C of the business plan form.

BC2.10.15 Verification of a business plan

1. The business immigration specialist must be satisfied that documents provided in support of the business plan are genuine and accurate, and they may take any steps they determine necessary to verify such documents and the information they contain.
2. The business immigration specialist may interview, or ask another branch of the NZIS to interview, the principal applicant in order to determine whether or not the business plan is genuine.

Effective 26/07/1999