Simplified visa process unveiled for NZ investors
For migrants who invest $10 million in New Zealand, recent changes to the visa process include a reduction in the number of days they have to spend in the country on an annual basis, from 73 days to 44 days in total.
Bank bond investments and equity will also be recognised as acceptable, and business migrants will also need to meet only one of the two requirements of either having managed a business with five full-time employees or a business with at least a $1 million annual turnover (rather than having to meet both requirements, as was previously the case).
The most significant change is that funds can now be transferred through foreign exchange companies, not just banks, and residential property (as opposed to the migrant’s own home) can now be acknowledged as an ‘acceptable investment’.
The New Zealand business migration announcement was made by Immigration Minister Dr Jonathan Coleman.
‘The marketing of our business migration package will target key OECD markets including the United Kingdom and the United States. We’re also looking at the major developing markets in India and Southeast Asia’, he said.
Dr Coleman continued: ‘My number one priority has been to ensure immigration is contributing to the Government’s economic growth agenda’.