BH3.5 Consistency with business proposal under the Long Term Business Category (08/04/2013)

1. An application under the Entrepreneur category will be declined if:
   1. the business on the basis of which the application is made was established while the principal applicant was holding a work visa granted under the Long Term Business Category; and
   2. the business is different from a business proposal (including a business proposal subsequently modified with the consent of a business immigration specialist) in respect of which the applicant was granted a work visa.
2. Despite BH3.5(a) above, an application may be approved if:
   1. the business that has been established would have met the requirements for a business plan under Long Term Business Category; and
   2. the business that has been established required the same or a greater level of capital investment than a business proposal in respect of which the applicant was granted or issued a work visa under the Long Term Business Category; and
   3. the applicant has relevant experience for the new business; and
   4. the business has provided a significant benefit to New Zealand as determined by a business immigration specialist (see BH4.10).
3. For the purposes of BH3.5(b)(ii), account will only be taken of the amount of capital that has been actively invested in the business. No account will be taken of:
   1. working capital (see BH4.5.15); or
   2. passive of speculative investments, such as reserve funds or term bank deposits; or
   3. expenditure on items for the personal use of the applicant(s), such as personal residence, cars or boats.

Effective 08/04/2013