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Thread: Changes afoot for wealthy migrants

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    MotherBear's Avatar
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    Default Changes afoot for wealthy migrants

    Rules for wealthy migrants relaxed
    5:00AM Wednesday June 06, 2007
    By Claire Trevett

    New rules allowing wealthy investors into the country will be announced today in an attempt to reverse a collapse in numbers applying to enter.

    Immigration Minister David Cunliffe will outline changes to the investor migrants category after the numbers of migrants applying to enter New Zealand in this category fell from more than 1000 a year to fewer than 20 after tighter rules were introduced.

    Since July 2005, anyone applying for residency as an investor has had to have at least $2 million, which the Government holds for five years. The investor can withdraw up to $1 million after two years to invest in a business that will benefit New Zealand.

    Previously, investor migrants had to bring $1 million which the Government held for two years.

    The policy was tightened to prevent rorts such as people borrowing the money required and repaying it as soon as they had residency, or gaining residency and sending the money to others to enter as "investors".

    More here .
    Mother Bear

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    Bermy Girl's Avatar
    Bermy Girl is offline Senior Member
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    How does that song go..."If I had a million dollars..." Fat chance! But as we all know...money isn't everything...

  3. #3
    ShellBda's Avatar
    ShellBda is offline Oh Masterful One
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    Red face

    I had every intention of entering NZ under the investor category but I only had $999,000! Bermy Girl just wouldn't give me the extra $1000 I needed!

    I WISH!!!

  4. #4
    Welshgirl's Avatar
    Welshgirl is offline Super Moderator
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    Quote Originally Posted by ShellBda View Post
    Bermy Girl just wouldn't give me the extra $1000 I needed!
    Some friend


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    ShellBda's Avatar
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    I am just waiting for Bermy Girl to come back with witty response! She will come.....

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    Maligned again....story of my life...

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    kokopeli is offline God like figure
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    On a serious note.....

    ... they were saying on Radio New Zealand National this morning that applicants able to invest $20 million would have their applications for residency 'fast tracked'. No need to speak English, no educational requirements, no other restrictions. While they made it sound like an open door, the reporter implied that applicants would need to have the money 'in their hand' rather than tied up in real estate, shares and other investments. Realistically speaking, how many people will be eligible to apply under this category? And how many of those would actually want to live in New Zealand? I'm sure there'll be some, but $20million is a heck of a lot to have in your current account.

    New Zealand First have been on the radio claiming that this proposal will allow foreign investors to buy up all the land and force property prices even higher. As I see it, the current rules don't stop that happening now and it's been going on for a long time.

    It all smells a bit Tony Blair/Alastair Campbell to me.......

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    Taffy's Avatar
    Taffy is offline He who shall be ignored
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    Money always talks louder than anything else. Always has done, always will do!
    Taffy

    The greatest mistake you can make in life is to be continually fearing you will make one.

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    Dawn's Avatar
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    Quote Originally Posted by Taffy View Post
    Money always talks louder than anything else. Always has done, always will do!
    Now, don't get me started again
    Passionate about the unfathomableness opportunities of kiwi-a-gogo-land

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    Taffy's Avatar
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    Now, don't get me started again
    Heaven forbid!!
    Taffy

    The greatest mistake you can make in life is to be continually fearing you will make one.

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