NZ immigration urged to open borders for investors

NZ immigration

NZ immigration urged to open borders for investors

New Zealand’s immigration department is under pressure to reopen borders to allow holders of investor visas to New Zealand back into the country.

Immigration NZ currently has around 270 category one and two visa applications from investors looking to invest in New Zealand businesses.

Each applicant for the country’s investor visas is set to invest between $3 million and $10 million each, with a total of more than one billion dollars of economic investment on hold due to the border closures.

However, because of travel restrictions in place due to the pandemic, the immigration department is unable to approve the visa applications.

Kirk Hope, chief executive of Business NZ, urged the government to sanction border exemptions for investors, as letting them invest in New Zealand would allow them to create new businesses and high-value jobs, which would provide a massive boost for the country’s economic recovery following the pandemic.

He also said there is plenty of scope within the country’s quarantine facilities to accommodate an increased number of investors returning to New Zealand.