Residency 'carrot' lures rich investors
By Lincoln Tan
4:00 AM Tuesday Nov 17, 2009
Thousands of wealthy foreigners are lining up to move here, just weeks out from the introduction of business migration laws that will grant them residency almost immediately.
Under a new Entrepreneur Plus immigration category - effective on November 30 - entrepreneurial migrants who create at least three fulltime jobs and invest $500,000 in their business will be offered a fast track to residency.
Currently, entrepreneur migrants are issued with a long-term business permit and can apply for residency only after two years.
Although there is no minimum investment capital required, neither is there a guarantee their residency application will be approved.
The new scheme will grant conditional residence virtually as soon as an application is made.
"There is no time requirement that you must have operated your business for to be successful under this category," the Immigration New Zealand website says.
More here.
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