New Zealand, like Australia, has grown their population through migration with the objective to adding to economic prosperity. In New Zealand’s case, this population growth has put increased pressure on infrastructure which has struggled to keep up.
In the Labour Government Immigration Manifesto written after the last election, their policy focus for the Investor Visa category is that funds should be used for building infrastructure, particularly in Auckland, where the majority of migrants have settled.
New Prime Minster, Jacinda Ardern, re-affirmed after the election that Labour estimates net migration will fall by 20,000 to 30,000 a year, mostly by limiting the number of people granted student and work visas (in the year to June 2017, net migration was 72,305). Co-coalition partner NZ First, who is strongly anti-immigration, had campaigned on reducing migration to 10,000 pa.
“As per Labour’s policy, pursue Labour and New Zealand First’s shared priorities to: Ensure work visas issued reflect genuine skills shortages and cut down on low quality international education courses,” the agreement said.
Most recently, the National government, in terms of the Investor Visas, has been encouraging funds be directed into growth assets such as shares and property funds, with an incentive of providing a NZD 500,000 discount for investing at least half or NZD 1.5M under the Investor 2 Visa.
The manifesto provides the option to continue to invest in those assets, but only after an increase in the current Investor 2 from NZD 3M to NZD 5 million and the Investor Plus from NZD 10 million to NZD15 million.
Currently the number of Investor 2 visas in limited to 400 whilst the larger Investor Plus is uncapped. The manifesto also includes a doubling of the investment time frames to 6 years for Investor Plus and 8 years for Investor2.
Further, the manifesto focuses on increasing the quality of education studied by migrant students as well as a new visa category called Exceptional Skills which will help grow high-tech new industries, offering up to 1,000 visas pa.
For those migration agents and advisors who currently have clients considering the NZ Investor Visa pathway, they may wish to submit applications an soon as possible, to ensure they are subject to the current rules should there be any changes to the program.
Stacey Martin, Founder of Expat Advisors Community, is an Investor Migration Consultant for Australia and New Zealand. If you are considering moving to Australia or would like to augment your offering with access to a range of experts to help make the move as smooth as possible contact us about our concierge service.