04 August 2008

Number of investor immigrants moving to New Zealand drops to one

The number of rich investors opting to move to New Zealand has dropped in the past seven years to just one. According to the New Zealand Herald, the figure in 2002 was 1,326 having decreased to just one this year, with some Government ministers saying it needs examining.

Lockwood Smith, the National Immigration spokesman, told the newspaper: "We are missing out on investment dollars... changes to business migration is one of five key focuses of National's new immigration policy, which will be released soon." Nicholas Green, the Business NZ Immigration Advisor, backed this up, saying the drop occurred when changes were made to the policy three years ago.

In these changes the maximum age on an entrant was lowered to 54-years-old, from the age of 85, the minimum investment was doubled to AUD$2 million (£0.95 million) and investors have to invest in Government backed funds. Last year the Investor policy was replaced by the Active Investor Migrant Policy.

New Zealand needs skilled migrants: Anyone applying for a New Zealand visa should begin by taking the New Zealand Visa Bureau's online New Zealand visa assessment to see if they meet the basic legislative requirements.

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