Thinking about emigrating to New Zealand as an investor?
On May 6 Immigration Minister Jonathan Coleman announced that over $560 million in potential capital investment is poised to flow into the NZ economy and planned changes to the Government’s business migration scheme will increase investment further. source
The Government’s business migration scheme offers two investment categories:
Investor Plus – minimum investment of $10 million for at least three years
Investor – minimum investment of $1.5 million for at least four years.
Some of the key changes to the business migration scheme includes:
• Reducing the residence requirements for Investor Plus migrants during the three year investment period from 73 days to 44 days per annum.
• Investment opportunities will be expanded by allowing migrants to invest in entities established by parent organisations to raise funds. Migrants will also be allowed to invest in bank bonds and equities.
• More flexibility is being provided around the requirement for business experience. Instead of previously having to meet both conditions, business migrants only need to meet one of the following criteria – to have owned or managed a business with five full time employees or to have owned or managed a business with a minimum $1m in annual turnover.
• Migrants will be allowed to transfer funds through foreign exchange companies which recognises the emerging international trend in funds transfer.
• Residential property is to be included as an acceptable investment. Safeguards are required so that residential property investments create economic growth and increase the total housing stock available to New Zealanders.
NZ Prime Minister John Key: “we’re pro immigration” “issue for NZ is whether people can bring skills or bring capital”
From the BBC Hardtalk interview conducted with Stephen Sackur.
Before you reach for the visa application form and cheque book you may like to read about a British investor who has just been made to leave after establishing a North Island business with a turnover of $2 million a year. Why should you? because although New Zealand likes the wealth he generates they don’t like the chance that his (resolved) health condition may place undue strain on the country’s health service.
This could so easily be you.
Martyn Payne has been forced to leave New Zealand, his family, staff and business as a result of an unjust decision. Visit the Facebook page set-up to support him
Martyn Payne moved to New Zealand from the UK nearly seven years ago.
He invested his life savings of $700,000 and six years of his life into turning a struggling Northland garage into what has become a thriving business and centre of the local community.
Martyn’s business employs seven staff and turns over $2 million a year, providing vital employment and income for his small town which has been hit hard by the recession.
The Immigration department agrees that Martyn was providing a ‘valuable service’ and a ‘worthwhile contribution’ but has decided his health will potentially cause a drain on the NZ health service despite a doctor’s report stating otherwise.
Martyn lodged an appeal with Associate Immigration Minister Kate Wilkinson asking her to intervene in this case and allow him to stay, however this request was declined on April 20th. The Associate Minister stated that no new information has been put forward and unless there is a significant change in Martyn’s case and circumstances his appeal will not be looked at again.
This despite new information being sent after the original decision in the form of a second doctor’s report and a specialists report both confirming Martyn is not expected to be a drain on the health service as is suggested.
Martyn Payne was forced to leave New Zealand on 23rd April, leaving behind his business, staff, daughter and grandchildren. He will not be allowed back into New Zealand for at least 6 months, and then only if sponsored. His family are fighting to bring him back. source
Mr Payne is now holed-up in Brisbane, Australia whilst a decision is made on his application for a temporary 12 month NZ work visa and even that may be refused. Under the circumstances why should he bother staying, why not just pack up, sell the business and call it quits on a country that puts its own interests before his? There are many struggling migrants that would quite happily trade places with him.
Immigration New Zealand took the the unusual step of publishing a press release in an effort to “clarify the facts” of Mr Payne’s case. It makes the Long Term Business visa look even less attractive, if such a thing is possible
“Immigration New Zealand wishes to clarify the facts around the case involving Martyn Payne.
In November 2005, Mr Payne arrived in New Zealand with a work permit valid until August 2006. He was then granted a work permit under the Long Term Business Visa category until November 2008.
Mr Payne was advised in writing that a long term business visa was no guarantee that a subsequent residence application would be approved and that any application would be assessed under the policy applying at that time, including meeting health requirements.
In January 2010, Mr Payne’s residence application under the Entrepreneur category was declined by Immigration New Zealand as he did not have an acceptable standard of health. A medical waiver was carefully considered but declined by Immigration New Zealand.
Immigration New Zealand’s decision was upheld by the independent Residence Review Board (RRB) in August 2010. In its decision the RRB noted that although the family otherwise met residence policy, Mr Payne’s heart condition was estimated to cost New Zealand’s health system at least $25,000. The RRB mentioned that this was a “substantial sum for an overburdened health service.”The RRB also agreed with INZ’s decision to decline a medical waiver. “There is nothing about the appellant, his wife or their son, or the family cumulatively which could be described as compelling, such as to justify a waiver, when weighed against the high probability of significant medical costs at some point in time.”
The RRB has jurisdiction to recommend to the Minister of Immigration that they grant residence as an exception to policy. The RRB declined to recommend this in Mr Payne’s case.
The Associate Minister of Immigration has declined to intervene in the case as it has already been carefully and thoroughly considered by an independent review body which agreed with Immigration New Zealand’s original decision.
The Head of Immigration New Zealand, Nigel Bickle acknowledges the connection Mr Payne has made in Northland.
“There is no doubt he has a lot of support in the community but its impossible to ignore the fact that at some point in the future he’s likely to impose significant costs on New Zealand’s health services.”
Not out of the woods yet
Update: Mr Payne was eventually allowed to re-enter NZ on a temporary work visa, where he will eventually be able to apply for permanent residency. Of course there’s no guarantee that he will be permitted to remain permanently but it does give him time to put his affairs in order should he be refused a second time. We wish him well.
From 3 News:
Martyn Payne’s family say they miss him very much, but today they have found out that he will be able to return to New Zealand on an eight month work visa.
His daughter and grandchildren – as well as the small community of Kapiro – have been anxiously awaiting an immigration decision that will allow Mr Payne, who is originally from England, back into New Zealand.
A statement from New Zealand Immigration today says this decision will allow Mr Payne to “get up to date medical assessments from his specialists in New Zealand so that he can lodge a new residence application”…more here