Immigration to New Zealand
Immigration to New Zealand
Article by Michael Robinson
New Zealand represents a very attractive destination for migrants and investors looking for a safe haven in a world that seems to be increasingly headed towards division, conflict and economic instability. New Zealand has been stewarded through the global financial crisis by good economic management of the current government resulting in a stable economy in a stable political environment.
New Zealand has become an increasingly attractive destination for Investment capital as a consequence ofthat stability. Apart from issues of safety and a clean environment, migrants are attracted to educational apportunilies for their children, favourable tax treatment for the initial four years following arrival, a lack of capital gains lax and an absence of any form of inheritance tax. New Zealand's sophisticated banking and finance sector offers specialist expertise, including in the field of offshore foreign trust administration.
The New Zealand government has continued to attract high net worth migrants with a minimum asset worth of NZD 2.5 million (approxlmately US$ 2.2 million) through its investor visa programme, allowing people to secure a range ofvisas based an varying forms of Investment in New Zealand such as:
The return an those Investmentsare attractive within themselves, but their ability to also Iead to residence entitlements authorising a permanent stay in New Zealand has received a favourable responsein international markets.
For those seeking visas to operate their own business, new requirements introduced in March require a $100,000 Investment in capital items and clearly favour businesses that export from New Zealand.
With upcoming elections there has been some rhetoric araund the purchase of land holdings by offshore interests and reference to capital gains tax. However, they are short term populist election planks by Opposition parlies who da not have a substantial chance of securing power in the upcoming general election. Further, the reliance of New Zealand on migrant expertise means this is largely counterproductive.
Immigration - Context
Next to lreland, New Zealand has the second largest diaspora in the world with significant numbers of New Zealand citizens encouraged to gain experience in foreign jurisdictions through a substantial network of reciprocal working holiday scheme overseas.
One in four of New Zealand's workforce was born overseas.
60% of workforce growth in the past 10 years is from migrants.
Nearly 40% of Auckland's population is born overseas, making it the second largest migrant city per capital after Vancouver.
Following agriculture and primary industries two of New Zealand's largest export earning service sectors are tourism and international education.
Growth has primarily been driven by ernerging economies. By February 2015 it is expected that there will be 30 flights per week from China.