New Zealand BIV: Can You Replace a Nominated Business After a Sale Falls Through?

If the business you planned to buy is no longer available, a New Zealand Business Investor Work Visa (BIV) holder may be able to ask Immigration New Zealand (INZ) to change the nominated business. This is a formal request with a narrow time window. It is not permission to switch targets informally, and approval is not automatic.

Separate the six-month and nine-month deadlines

The current INZ 1396 form, dated July 2026, says the request must be made within the first six months from the date the initial BIV work visa was granted. You may make only one request to change the nominated business. The form separately asks whether you can purchase and begin operating the replacement business within the first nine months of your current visa. Time already spent on the visa counts.

The six-month period is the window to request a change. The nine-month period concerns completing the purchase and starting operations. Neither clock restarts because negotiations have begun again or a replacement target has been found. Work backwards from the visa grant date and leave time for due diligence, valuation, a new business proposal and INZ processing.

Explain why the original purchase could not proceed

INZ 1396 asks what material circumstances outside your control prevented you from purchasing the originally nominated business. A short statement that “the deal fell through” may not explain the relevant facts. Prepare a dated account of what happened, the steps taken by both parties, why the sale ended and the documents that support your explanation, such as sale correspondence or termination notices.

Do not assume that every commercial change meets this test or rewrite the transaction history to fit it. If responsibility or the reason for termination is disputed, keep the original records and ask an appropriately qualified New Zealand immigration and legal professional to assess the facts. This article cannot determine whether a particular event was outside your control.

Prepare a new proposal for the replacement business

The form requires a new Business Proposal form (INZ 1393) and the supporting evidence requested in that form. Replacing the business name in the old proposal is not enough. Recheck that the new target meets the current BIV requirements, including its trading history, operation, staff and ownership arrangements, purchase price, your intended role in running it and any excluded-business rules. Acceptance of the original target does not establish that the replacement qualifies.

INZ 1396 also asks about the investment funds or assets to be used. Explain whether you will rely on the funds from the original application, new funds or a mixture. If funds have moved, new funds have been added or a gift is involved, provide the information and evidence requested by the form. Check any valuation-age requirement. Financial due diligence, legal due diligence and immigration eligibility each need their own evidence and professional work.

A practical pre-submission checklist

• Confirm the original BIV grant date and calculate both the six-month and nine-month deadlines.

• Check whether the one change request has already been used.

• Keep dated evidence explaining why the first purchase could not proceed.

• Complete INZ 1393 for the replacement and attach the evidence it asks for.

• Reconcile the ownership, source, location and value of old and new investment funds or assets.

• Confirm whether purchase and active operation can start within the existing nine-month period.

• Use the latest INZ 1396 submission instructions and checklist; provide copies, not originals, unless INZ asks for originals.

INZ says approval of a change request is for assessing whether the BIV instructions are met; it is not a government endorsement or guarantee of the business. The request, its approval, the completed purchase and any later residence application are separate stages. Before signing, have New Zealand legal and accounting professionals complete their respective due diligence, and include visa deadlines and unresolved risks in the transaction timetable.

Official sources

Checked on 21 October 2026. Rules and forms can change, so download the current version before submitting. INZ: Business Investor Work Visa; INZ 1396 Change of Nominated Business (July 2026).