Wednesday 6 June 2007
New Zealand will be better placed to attract serious investor migrants under the Labour-led government's new Active Investor Migrant policy, says Immigration Minister David Cunliffe.
"The new policy will increase both the number of investor migrants and their contribution to New Zealand," Mr Cunliffe said.
"Active investment is about creating a closer link between investor migrants and New Zealand businesses. More active investment will ensure that investor migrants are more likely to utilise their human and financial capital to support New Zealand’s economic development.
"It will mean more investors who are actually creating goods and services in New Zealand and employing Kiwis."
The new policy is based on the three principles of seeking more active high-quality investment directly or indirectly in New Zealand firms; segmented risk management; and more realistic investment levels that will increase investor migrants’ financial contribution to New Zealand.
It aims to increase productivity by boosting output more than demand. It excludes residential property development.
The policy has three sub-categories:
• Global Investors – the top priority category for high value investors investing $20 million (including $5 million in active investment), which requires minimal policy conditions and facilitated, fast-track processing.
• Professional Investors – a second priority category for migrants investing $10 million (including $2 million actively) with moderate policy condiions and facilitated, fast-track processing.
• General Active Investors – a category for those investing a minimum of $2.5 million.
"All three categories will be closely monitored to ensure transparency, probity and effectiveness.
"Investor migrants can make a significant contribution to New Zealand’s economic transformation through their business experience, international connections and financial capital," Mr Cunliffe said.
"It is important that New Zealand does not miss the opportunity to support our businesses through investor migrants. An investor policy that attracts and facilitates these high-value migrants while managing risks is essential."
