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Thread: Chinese investors claim they are blocked from NZ

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    MotherBear's Avatar
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    Default Chinese investors claim they are blocked from NZ

    Chinese investors claim they are blocked from NZ
    By Lincoln Tan 4:00 AM Wednesday Jul 21, 2010 Twitter

    Wealthy Chinese investors say strict fund transfer policies are preventing them from becoming investor migrants in New Zealand.

    Although Immigration NZ has received applications from two Chinese wanting to invest $10 million under the Investor 1 category and 21 with $1.5 million to invest under the Investor 2 scheme, no applications from Chinese nationals have been approved to date.

    "New Zealand is like a village, and still cannot accept that wealth is accumulated differently by people living in big cities," said a failed Chinese Investor 2 applicant in Mandarin.

    His application was declined after he used a finance company to transfer $2.5 million to New Zealand.

    More here.
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    Jof's Avatar
    Jof
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    Hmmmm, wealth is accumulated differently in cities?

    Perhaps INZ know all too well how money is accumulated! As the original article says the current restrictions are to prevent money laundering.

    Seems like the underlying problem here is the Chinese banking system and the Chinese government policies on money transfers.

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