Photo credit: NZ Herald
New Zealand’s authorities are implementing fresh immigration policies to encourage wealthy foreigners to invest in the country.
Newstalk ZB reports that Prime Minister Christopher Luxon announced the changes while speaking in Auckland on Sunday. He was accompanied by Finance Minister Nicola Wills, Immigration Minister Erica Stanford and Minister of Trade Todd McClay while making the announcement.
Wills said, “Foreign investment has the potential to provide jobs for Kiwis, lift income by delivering new businesses and investing in existing ones. We should be rolling out the welcome mat and encouraging investor migrants to choose New Zealand as a destination for their capital.
“Unfortunately, changes made to the AIP visa category by the previous government had the effect of discouraging potential investors from seeking New Zealand residence.”
Several other changes have been made, including stripping away the visa’s English language requirement, which demands applicants have an English language background. Luxon today claimed the requirement had scared off many potential investors in recent years.
Successful applicants in the growth category must have spent a minimum of 21 days in New Zealand.
The changes would come into effect on April 1.
