New Zealand Business Migration hits $562m – set to increase further
Changes to the business migration scheme of New Zealand have resulted in over $560 million of potential investment being pumped into the country’s economy. Further changes are set to grow this figure even further says Immigration Minister Jonathan Coleman.
Dr Coleman confirmed that the business migration scheme has attracted over half a billion dollars in investment thanks to changes that increased the country’s appeal to investors. “We launched this package 19 months ago and the take-up rate has been incredibly encouraging. It’s attracted $562 million in potential investment which shows the package is very appealing to business migrants,” Dr Coleman says.
“Since the scheme’s been operating, it’s attracted several times the amount of potential investment capital compared to the previous Government’s policy. We’re committed to policies that attract investment which helps to grow our economy.”
So far $142.5 million has been invested into New Zealand and a further $167.25 million has been approved for funds transfer under the Business Migrant Policy. There are also applications worth $252.5 million currently being processed.
The invested funds have been spread into various investments ranging from shares, securities and bonds to airports and even chicken farms.
Further changes to the policy have been designed to increase the amount of invested funds in the country by improving the appeal to overseas investors. “To ensure we’re getting the best return from this package, we reviewed the policy settings to ensure that the changes that come into effect from mid-2011 will provide more incentives for wealthy migrants to upgrade their investment” Dr Coleman says.
Dr Coleman believes the Government’s new scheme makes it far easier for people to invest money in the country without compromising the integrity of the immigration system.