Wellington, July 20 (BNA) The New Zealand government said on Wednesday that it has created a new immigrant visa for investors to attract experienced, high-value investors to invest in local businesses.
Economic and Regional Development Minister Stuart Nash said the new Active Investor Plus visa will replace the old investment visa categories and will require immigrants to make investments in New Zealand businesses.
He said old visas often resulted in immigrants investing in stocks and bonds rather than investing directly in New Zealand companies.
“We want to encourage active investment in New Zealand, which generates more high-skill jobs and economic growth than passive investment,” said Nash.
Eligibility criteria for the new visa include an investment of at least NZ$5 million (US$3.1 million) of which only 50% can be invested in listed stocks.
ZHB