Investment in New Zealand Grows
by Benjamin Simpson
New Zealand has recently launched a new migration scheme for business investment from foreign nationals and have successfully attracted over $400 million to the nations growing economy. The new investment is thought to create hundreds of jobs for both domestic and foreign labourers as well as boosting the economy further as the country leaves the recession behind them.
The policy was changed to become as attractive as possible to foreign business leaders and promote investment into the New Zealand economy. The previous policy was very restrictive and since the changes have been made over two and half times the previous investment amount has been made.
With an attractive business immigration policy the number of applicants has grown significantly and there is currently a larger than normal backlog being processed worth an estimated $180 million to the countrys economy causing widespread concern over the inefficient application process.
While the business investment growth was expected the immigration department has been very careful to ensure that the growth does not damage other areas of immigration due to quotas and job competition. The policy also places a great emphasis on the creation of new jobs for New Zealand workers as well as foreign nationals.
The previous immigration policy used three categories to organise applications from business investment migrants which caused a lot of confusion and a number of applications were rejected due to being incorrectly completed. The process has been streamlined into two categories and has allowed a number of applicants to successfully enter the country.
Along with the streamlined application process the requirements for applications have also been clarified and made much more achievable to business men and women from other countries. The new policy certainly has helped millions of investment into the country as well as the growth of the job market for both local and foreign nationals.
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