The New Zealand immigration minister Michael Woodhouse has announced that his department is to scrap the Long-Term Business Visa and introduce a new visa, the Entrepreneur Work Visa, to replace it. The new visa will assess applicants using a points-based test and require them to invest NZ$100,000.
Mr Woodhouse says that he hopes that the new scheme will 'encourage business-savvy migrants to invest, settle and create jobs across the country'. He said that he was scrapping the Long-Term Business Visa because it had 'attracted a large number of low-quality applications'.