Global Times - Business migrant rules relaxed in New Zealand

Business migrant rules relaxed in New Zealand

Source: Xinhua
[15:29 July 28 2009]
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The New Zealand government is relaxing entry conditions for business migrants to encourage investment in the country.

The new business migration scheme, launched on Tuesday, aims to boost economic performance by making New Zealand more attractive for business and entrepreneurial migrants.

English-language requirements are being lowered for investors as well as the amount of capital they need to bring into the country.

In the top category, there will be no English-language requirement for those bringing in 10 million NZ dollars (6.5 million US dollars) of investment capital over three years.

"For investor migrants the previously existing three categories are streamlined to two, with more realistic requirements for capital, language skills and time spent in New Zealand annually, as well as a far greater flexibility in terms of investment vehicles," said Immigration Minister Jonathan Coleman.

Announcing the new policy, Coleman said that since 2005 there has been a significant drop off in business migration investment due to unrealistic investment expectations and English language requirements.

Coleman said the changes will not result in an influx of people who cannot speak English.

Instead, the changes should attract a small but wealthy group of business migrants, Coleman added.

"This fresh approach will ensure we bring more investors, connect them with existing business networks, and create real jobs for New Zealanders," said New Zealand Economic Development Minister Gerry Brownlee.

An entrepreneur category will also be introduced for people who can create at least three full-time jobs and invest 500,000 NZ dollars in their business.

The new Investor policy was implemented on Tuesday and the Entrepreneur Policy will be valid from November.

But the opposition Labor said the government has gone too far with the changes. The Labor's immigration spokesperson Pete Hodgson said the relaxation will "give open entry to potentially unsavory characters."