CORPORATE ACFT MAKES MISSED APCH THEN PUT IN AIR HOLD. ADVISES CAN ONLY HOLD 15 MINS. ATC DECLARES EMER.

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ARRIVED AT TEB FROM YIP WITH 5500 LBS OF FUEL ON BOARD WHICH IS APPROX 2 HRS DURATION. THE FMS SHOWED THE ACFT REQUIRED 6000 FT ON A WET RWY. THE APCH IN USE WAS VOR DME TO RWY 24 WHICH IS 6000 FT LONG. WE HAD JUST THE RIGHT FUEL LOAD. WE WERE ADVISED BY ATC THAT THE ACFT AHEAD ON THE APCH LANDED IN SPITE OF THE VISIBILITY. WE MISSED THE APCH AT TEB AND WAS ADVISED ON UNICOM THAT THE TEB WX IS NOW '0/0.' WE THEN REQUESTED ILS 22L AT EWR. WHILE BEING VECTORED FOR THIS APCH; THE 767 AHEAD OF US WAS GIVEN THE TOUCHDOWN RVR TO BE 1200 FT AND ROLLOUT RVR TO BE 700 FT AND THEN EXECUTED A MISSED APCH TOO. WE FLEW THE APCH TO MINIMUMS WITH NO GND CONTACT AND ALSO MISSED THE APCH. IT SEEMED TO US THAT EWR WAS ABOUT TO CHANGE TO ILS RWY 4R AFTER OUR MISS. WE WERE THEN GIVEN A CLB TO 4000 FT AND A VECTOR TO SBJ VOR. WE WERE THEN CLRED TO HOLD S OF SBJ ON THE 180 DEG RADIAL WITH NO EFC GIVEN THEN WE WERE CLRED TO CLB TO 5000 FT. IT BECAME CLR THAT OUR NEXT APCH WOULD BE SOME TIME FROM NOW. WITH 3200 LBS OF FUEL REMAINING (1 HR) WE ADVISED ATC WE COULD HOLD FOR 15 MINS LONGER AND REQUESTED ILS RWY 4R CAT II. SHORTLY AFTER THAT WE WERE GIVEN A VECTOR FOR THE ILS RWY 4R; AND WERE ASKED SOULS ON BOARD AND TOLD THE EMER EQUIP WAS STANDING BY. WE LANDED ON RWY 4R AND TAXIED IN WITH 2400 LBS OF FUEL REMAINING (45 MINS). SOMEWHERE ALONG THE LINE ATC THOUGHT WE WERE CRITICALLY LOW ON FUEL. ALTHOUGH AFTER 2 MISSED APCHS AND HOLDING WE WERE GETTING LOW. NEVER WAS THE SIT CRITICAL. WE DO APPRECIATE ATC'S TIMELY RESPONSE TO OUR SIT.