Immigration Law Advocates
Jay Shadforth, Director, ILA
New Zealand is opening its doors to business migrants in the wake of the recent AANZFTA signing, to survive and thrive beyond the global economic recession.
The New Zealand Prime Minister John Key has made fi rm statements of his government’s commitment to keep the immigration doors open, despite the economic recession. As an entrepreneur himself, Mr Key recognises that the recession necessarily creates its own opportunities for business investment in New Zealand and that this investment and capital injection from offshore is exactly what is needed for the sustainable growth of the economy.
The Government has also been proactive in affirming ties with the ASEAN countries by building on the ASEAN-Australia-New Zealand Free Trade Agreement signed in March 2009. Consequently, the New Zealand government has taken a positive view of potential investment and business development opportunities for New Zealand throughout Asia.
BUSINESS MIGRANTS
The Government’s new business migration scheme launched 28 July 09 aims to boost economic performance by making New Zealand more attractive for business and entrepreneurial migrants. The new policy package is designed for migrants for migrants who want to invest or set up a business in New Zealand and gain permanent residence.
A summary of the two Investor Categories introduced are set out below:
|
Requirements under the Migrant Investment Policy
|
||
|
Key requirements |
Investor Plus (Investor 1 Category) |
Investor (Investor 2 Category) |
|
Principal applicant’s English language |
No requirement |
IELTS* test report with an overall band score of 3 or more; or |
|
Evidence of an English speaking background. |
||
|
Family member’s English language |
No requirement |
Same as principal applicant or pre-purchase ESOL tuition |
|
Age |
No requirement |
65 or younger |
|
Business experience |
No requirement |
Minimum of three years |
|
Investment funds |
NZ$10 million |
NZ$1.5 million |
|
Settlement funds |
No requirement |
NZ$1 million (transfer not required) |
|
Section 18A requirement on residence |
Maintain the investment funds in New Zealand for a minimum of three years; and |
Maintain the investment funds in New Zealand for a minimum of four years; and |
|
spend 73 days in New Zealand in each of the last two years of the three-year investment period. |
spend 146 days in New Zealand in each of the last three years of the four-year investment period; and |
|
|
(if required) complete 20 hours of English language tuition. |
||
|
Health and character |
Applicants under both categories must be healthy and of good character |
|
Effective 28 July 09
In addition to the policies outlined above, the Government announced that a new Entrepreneur Plus Category, complimenting the existing Entrepreneur Category will be introduced in November 2009. Entrepreneur Plus offers a faster path to residence for applicants who create at least 3 full time jobs and invest NZ$500,000.00 in their business.
CHANGING THE PAST
In the past, although New Zealand’s business migrant policies have existed with the purpose of generating investment in New Zealand, they have often fallen far short of the mark, as they have been wholly unattractive to the prospective business migrant population. Now however, we will see some much needed changes to the policies that will be set with realistic requirements. These changes have come about as a direct result of the influence of a forward-thinking Prime Minister with an entrepreneurial background. According to Mr Key: “The door is open. It’s a matter of how boldly we step through it.”
New Zealand offers overseas investors a broad range of solid business opportunities with small to medium sized companies, who have a wealth of valuable experience in the New Zealand marketplace. Many of these small to medium sized companies require an injection of cash fl ow to keep their businesses going. Whilst many small to medium sized businesses and franchises have good trading records, the economic slowdown has meant a decrease in cash flow: these businesses now either seek investment or purchase.
IMMIGRATION LAW ADVOCATES
Immigration Law Advocates (ILA) has already experienced a steady rise in business migrants looking to invest in New Zealand business. This trend looks set to continue and further increase on the back of the Prime Minister’s commitment to encouraging investment and job creation in New Zealand.
Jay Shadforth established ILA in 1999 following three years of experience as an Immigration Specialist in the Christchurch legal community. Jay has maintained full membership with the New Zealand Association for Migration and Investment since the establishment of ILA and, in the first year it was offered, obtained a Certificate of Proficiency in Immigration Law and Practice in New Zealand from Massey University (2000). Her incentive to establish her own firm came from the desire to provide a professional yet personal service to her clients in appreciation of the importance of their decision not only to immigrate, but to entrust that decision to her care.
A consultant for New Zealand Immigration, ILA offers a range of services to meet the varied needs of those emigrating to New Zealand and has been serving the requirements of NZ migrants since 1999.
ILA specialises in ensuring that all New Zealand immigrants are treated fairly under New Zealand immigration policies and law. ILA immigration consultants can help you resolve any issues that you might face in your desire to stay legally within New Zealand.
While many countries close their doors to immigration due to the economic recession, it is clear that New Zealand is paving the way forward in its bold move to encourage investors and business migrants.
Website: www.immigrationlaw-nz.com
Reprinted in full from Australian ASEAN Business
The Government’s new business migration scheme launched 28 July 09 aims to boost economic performance by making New Zealand more attractive for business and entrepreneurial migrants. The new policy package is designed for migrants for migrants who want to invest or set up a business in New Zealand and gain permanent residence.
A summary of the two Investor Categories introduced are set out below:
Requirements under the Migrant Investment Policy
Key requirements
Investor Plus (Investor 1 Category)
Investor (Investor 2 Category)
Principal applicant’s English language
No requirement
IELTS* test report with an overall band score of 3 or more; or
Evidence of an English speaking background.
Family member’s English language
No requirement
Same as principal applicant or pre-purchase ESOL tuition
Age
No requirement
65 or younger
Business experience
No requirement
Minimum of three years
Investment funds
NZ$10 million
NZ$1.5 million
Settlement funds
No requirement
NZ$1 million (transfer not required)
Section 18A requirement on residence
Maintain the investment funds in New Zealand for a minimum of three years; and
Maintain the investment funds in New Zealand for a minimum of four years; and
spend 73 days in New Zealand in each of the last two years of the three-year investment period.
spend 146 days in New Zealand in each of the last three years of the four-year investment period; and
(if required) complete 20 hours of English language tuition.
Health and character
Applicants under both categories must be healthy and of good character
Effective 28 July 09
In addition to the policies outlined above, the Government announced that a new Entrepreneur Plus Category, complimenting the existing Entrepreneur Category will be introduced in November 2009. Entrepreneur Plus offers a faster path to residence for applicants who create at least 3 full time jobs and invest NZ$500,000.00 in their business.
