New Zealand’s Business and Investor categories have seen constant change since they were introduced in the 1980’s mainly through the direction of successive Immigration Ministers. This has resulted in Investors, in New Zealand, who have had to meet different criteria and conditions for their residency requirements.
The current categories are:
Investor 1 Category
This category is structured for high net worth individuals who are able to invest NZ$10 million inNew Zealandfor a period of three years, and provides an avenue for them to obtain New Zealand Residence with a reduced criteria which needs to be met. These include:-
- No age limit
- No English language requirement, and
- No business experience required.
However, care needs to be taken in regards to the investment funds as there are strict requirements which need to be met in terms of:
- Proving the funds have been legally earned
- Transfer of funds requirements to New Zealand, and
- Meeting the investment criteria inNew Zealand
There is also a need to spend a minimum of 44 days inNew Zealandin the second and third years of the three year investment period, and meet Immigration New Zealand’s health and character requirements.
Investor 2 Category
This Category is structured to encourage high net worth business people to New Zealand who are able to invest a minimum of NZ$1.5 million for a period of four years, with a further NZ$1 million for settlement purposes.
There is a limit of 300 investors under this category per annum, and selection is based on a ‘points’ system and submission of an Expression on Interest, (EOI). Only those meeting the minimum required number of points are selected and invited to apply.
The points system is based on
- Age, (Maximum 65)
- Business Experience, (Min 3 years)
- English language, (minimum of IELTS overall band score of 3, or equivalent), and
- Amount of investment, (Min NZ$1.5 million)
Selections are made each fortnight and due to the low number of applicants, it appears all those who have completed an expression of interest, have been invited to apply. Immigration have selected people with a points total as low as 32 and with 10 points for investing $1.5 million, (the minimum), they have been selected without having to obtain many points within the other required criteria.
There is also a need to spend a minimum of 146 days inNew Zealandin the second, third and fourth years of the four year investment period, and meet Immigration New Zealand’s health and character requirements.
The ownership, transfer and investment criteria remain the same irrespective of the category applied under.
Investments inNew Zealandare required to meet certain conditions, including:
- Capable of earning a commercial return
- Not used for personal use
- Invested in New Zealand in New Zealand currency
- Invested in a lawful enterprise or managed fund
- Has the potential of contribute to New Zealand’s economy
Is invested in one or more of:
- NZ Government/Local Authority Bonds
- Bonds issued by New Zealand firms traded on the New Zealand Debt Securities Market Bonds issued by firms with New Zealand firms with at least a BBB- credit rating
- Equity in New Zealand firms (Public or Private, including managed funds)
- Bonds issued by New Zealand registered banks
- Equities in New Zealand registered banks
- Residential Property developments
- Bonds in finance companies
It is important to note that the criterion which needs to be met within these categories is complex and each aspect needs to be met in order to be successful. At Woburn International, with in excess of 21 years experience, we can guide you through the process to ensure you will meet the relevant Immigration New Zealand requirements.