In a recent announcement, Immigration New Zealand (INZ) has announced a number of changes to the Investor Visas (IV). The changes, which will come into effect on 1 July 2023, are designed to make it more difficult for investors to obtain an IV and to ensure that only genuine investors are granted visas.
One of the key changes is the introduction of a new minimum investment threshold for IV applicants. Under the new threshold, applicants will need to invest at least NZ$10 million in a New Zealand business. This is a significant increase from the current minimum investment threshold of NZ$3 million.
Another key change is the introduction of a new requirement for IV applicants to have a proven track record of business success. Under the new requirement, applicants will need to demonstrate that they have been involved in the successful management of a business for at least three years.
The changes to the IV are part of a wider government effort to crack down on immigration fraud. The government believes that the changes will make it more difficult for investors to obtain an IV by false pretences.
The changes to the IV have been met with mixed reactions. Some people believe that the changes are necessary to protect New Zealand from economic harm, while others believe that the changes are too harsh and will deter genuine investors from coming to New Zealand.
Only time will tell how the changes to the IV will impact the number of investor visas granted each year. However, it is clear that the government is taking a tougher stance on immigration and that it is not afraid to make changes to the visa system in order to protect New Zealand’s interests.
