As the country's Immigration Minister David Cunliffe stated, because the existing laws are ineffective, the government has introduced amendments to immigration legislation to attract a greater number of wealthy settlers wishing to settle in New Zealand. 'Frankly, the existing laws attract very few candidates (only 18 this year), and deprive some successful international businessmen of the opportunity,' says Cunliffe.
'If you have $20 million to invest in local business, I dare say you can afford a translator, which suits us fine,' said Cunliffe. In his opinion, wealthy migrant investors can make a significant contribution to the New Zealand economy, bringing with them business experience, international connections, and financial capital. 'It is very important that New Zealand does not miss the opportunity to support local business. Therefore, we need to develop an investment policy that takes into account risk factors, which would attract wealthy migrants and facilitate it,' he added.
President of the New Zealand Association for Migration and Investment Bernard Walsh stated that the existing investment policy is 'absolutely unviable.' 'I believe the innovations should come into effect sooner,' said Walsh.
National Party spokesperson on immigration Lockwood Smith also welcomes the amendments to the legislation. 'The changes made by the government in 2005 did not help attract investors to our shores at all. The Labour Party did not listen to the opinions of officials, completely messed up the existing policy in this regard, and as a result they had to fix the situation,' noted Smith. 'In 2005, the number of approved applications from immigrants dropped from over a thousand to 18. This is a direct result of serious mistakes by the Labour government, causing New Zealand to lose many skilled investors.'
The existing Immigration Act was passed in 1987, and the relevant amendments will be made after their approval by parliament early next year.