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Thread: LTBV to residency final conversion

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  1. #1
    Join Date
    May 2010
    Location
    Kaiapoi NZ (from Russia)
    Posts
    5

    Default LTBV to residency final conversion

    Hi!

    I am now on LTBV and two years passed. My business growing slower than I expected in business plan but it growing and all the time I have positive income. I hope that I passed the good way: established from zero business for online sales goods for craft/scrapbooking with $100K/year income that goes 99% from overseas. I think immigration officers love new export business :-)
    Now I am thinking that approaching time to final step - convert LTBV to permanent residency.

    Does anyone know how much time take this step? First application take me 4 month, first conversion (after 9 month) take one day and one letter and how much time I need to wait for final conversion?
    Does anyone know - is this conversion need any additional payment? I cannot find any info on official site and worrying.
    And last but not least: is there any hidden "stones under the water"? Does officers carp your work and carefully inspect all aspect of your business? Or maybe this is a easiest step and I'm worried for nothing.

    Thank you.
    Leo

  2. #2
    Join Date
    Feb 2013
    Location
    UK
    Posts
    1,547

    Default

    Hi. In order to go to the residency stage as an Entrepreneur you need to meet the various criteria - see http://www.immigration.govt.nz/migra...reneur/qas.htm (I guess you might have already done this.) I believe the cost of the visa will be $3200 minus $92.00 (because of LTBV). You will also have to pay the Migrant Levy if successful. You then stay on the Residence visa with conditions for 2 years after which the conditions can be removed and you can apply or Permanent Residence so long as you meet the time spent In NZ criteria etc. My suggestion would be that you contact the Business Migration Branch in Wellington, explain the situation to them and see what they say. If they don't think you're ready yet, you have another year on your current visa as I understand it and they would be able to tell you what goals you need to achieve to get your residence visa. I hope this helps. Karen

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