Skip to content

Business NZ urges border exemptions for investors

Business NZ urges border exemptions for investors

Navigation for News Categories

More than a billion dollars of potential economic investment is on hold because border restrictions stop foreign investors coming to New Zealand.

A deserted baggage claim area at Auckland Airport's international terminal during the Covid-19 alert level 3 lockdown on 7 May 2020.

A deserted baggage claim area at Auckland Airport’s international terminal in May 2020.
Photo: Brett Phibbs / PhibbsVisuals

Immigration NZ has about 270 applications for investor category one and two visas, in varying stages of processing, with each applicant promising an investment in the country of between $3 million and $10 million.

While the borders are closed the department cannot legally approve the visas, although recently it has started working through a selected small number of cases.

Business NZ chief executive Kirk Hope said getting the visas approved was a critical part of the economy’s recovery.

“We are seeing some border exemption criteria applied to critical workers who are coming in … we think that investor category needs to be included in some of those border exemptions.

“Where we have those investors coming into New Zealand to create those businesses they also create high value jobs so let’s not dismiss that, that’s a really important part of New Zealand’s future.”

He said there was likely to be scope within quarantine facilities to increase the number of migrants coming in.

“US-based technology investors are really keen to come to New Zealand because we have ultra-fast broadband in most parts of the country and we are Covid-free-ish.”

Get the RNZ app

for ad-free news and current affairs
Download from Apple App StoreDownload from Google Play Store

XL subscribe to our newsletter banner

Get the latest news and advice on COVID-19, direct from the experts in your inbox. Join hundreds of thousands who trust experts by subscribing to our newsletter.

Send your news and stories to us or and WhatsApp: +447747873668.

Before you go...

Democratic norms are being stress-tested all over the world, and the past few years have thrown up all kinds of questions we didn't know needed clarifying – how long is too long for a parliamentary prorogation? How far should politicians be allowed to intervene in court cases? To monitor these issues as closely as we have in the past we need your support, so please consider donating to The Climax News Room.

0 0 vote
Article Rating
Notify of
Inline Feedbacks
View all comments

Copyright © 2020 CNR. Climax News Room is not responsible for the content of external sites. Privacy Policy Designed by Cutez Brayz. Powered by Climax Media Enterprise .

Would love your thoughts, please comment.x
Live Updates COVID-19 CASES