According to Statistics New Zealand, the country’s economy is in the pink of health. In fact, it’s growing faster than economists initially forecasted. The data shows that in Q4 2015, the gross domestic product grew 0.9 per cent, which matches the results of the previous quarter. Originally, experts polled by Bloomberg predicted that the economy would grow just 0.7 per cent. The agency adds that the main drivers for this result were strong showings in the construction, business services, and retail sectors.
Given these encouraging results, it’s not surprising why many foreign investors are looking to bet their money on New Zealand. According to Nick Axford, head of global of research at CBRE, a real estate services firm, investors are particularly keen on investing in the commercial real estate market, which presents a safe investment option in light of the global economic slowdown. The commercial real estate space becomes even more attractive given international retailers’ interest in establishing their presence in the country.
As often happens, though, many investors just pump capital into a business venture and manage it from afar, allowing their deputies or local employees to run the show. However, there are also many investors who wish to take a more active role in managing the businesses they put up, going so far as to migrate to New Zealand to oversee matters personally. This is just one of the reasons why people from China, South Korea, the Philippines, Malaysia, India, Fiji, South Africa, the U.K. and Europe are flocking to the country. In these cases, securing a work visa in New Zealand
is a crucial first step.
In general, there are two visas designed for immigrant investors. The first is called the Investor Visa, which is designed for individuals who wish to invest at least NZ$ 1.5 million over four years. Other requirements for this visa include a minimum business experience of three years, fluency in the English language, and being 65 years old or younger. The investor must also be present in the country for at least 146 days during each of the last three years of the investment period.
The second visa is called the Investor Visa Plus, which is given to individuals who wish to invest at least NZ$10 million over a three-year period. Most of the other restrictions are dropped for this visa type, though the investor must be in the country at least 44 days each during the final two years of the investment period.
Of course, securing that all-important New Zealand working visa
can be time consuming, and any time spent processing these papers is time that you could otherwise use building up your business. As such, it is advised to consult with immigration experts like Auckland South Immigration Consultants to ensure the fastest possible visa approval.
Investor visas. www.newzealandnow.govt.nz
Business Migration. www.immigration.govt.nz
Foreign investors eye NZ commercial property. www.radionz.co.nz
New Zealand economy grows faster than expected on spending. www.afr.com