Tag Archives: OIA

NZ’s Business Migrant Scheme Revamped

On Tuesday this week Government Ministers Gerry Brownlee and Jonathan Coleman released a statement to the press regarding a revamp of certain previous requirements regarding entry, and consequent residential status in NZ.

Amid much publicity surrounding the new “have to be rich” criteria pertaining to business/investor migrants gaining NZ residency, there was a slightly smaller mention in the media of a new “PLUS” class under the entrepreneur category of business migrant. In fact overall they are reducing the present 3 categories down to 2.

The lowering of the investment minimum, from $20m down to $10m and a reduction of 1 level of ILETS from 4 down to 3 (with supporting conditions mind you) got most of the hype in this Business Migrant Scheme Revamp, but overall I think this new Entrepreneur Plus classification could actually have an effect from a property sales perspective, especially “lifestyle” properties.

The official release states….

For entrepreneurial migrants the new policy introduces a new Entrepreneur Plus category which complements the existing Entrepreneur category. Entrepreneur Plus offers a faster path to residence for applicants who create at least 3 fulltime jobs and invest $500,000 in their business.”

Just to save any confusion here, the requirements I am talking about above is different than the “Skilled Migrant” category requirements – more details about Long Term Skill Shortage List (LTSSL) and the Immediate Skill Shortage List (ISSL) categories over here.

GRAPHIC DATA taken from Appendix to the Beehive Press Release here.

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