Have National’s Migrant Investment Policies Worked?
The National Party’s Immigration policy promotes that they have attracted over $700 million in “potential” foreign investment thanks to improvements to the Business Migration Scheme.
It would be more plausible that their scheme was working if they released how much was “actually” invested through the scheme.
Immigration New Zealand statistics indicate that they have not approved even one Investor 1 category applicant ($10 million investor), this financial year commencing from the 1st of July 2011. This means that in four months they have not been able to attract any investors in this category. The ‘Temporary Retirement’ category (over 66 and willing to invest over $0.75 million for 2 years) only approved 6 in the last financial year, again with not one approved since 1 July this year.
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We admit the Investor 2 ($1.5 million+ investors) category is more successful, with 95 approved in the 2010/2011 year, and with a further 31 approved this financial year. The sums of these investments nevertheless still a far cry from the “potential” $700 million that has been touted by the government.
Woburn International’s interpretation of the substandard results is that the Government needs to overhaul its Immigration Investment schemes in order to attract more investment capital into New Zealand. Working with business migrants, Woburn International has developed some solid thinking on how to reform the system to encourage more investment and in turn stimulate the New Zealand economy.