Thousands of wealthy foreigners are lining up to move here, just weeks out from the introduction of business migration laws that will grant them residency almost immediately.

Under a new Entrepreneur Plus immigration category - effective on November 30 - entrepreneurial migrants who create at least three fulltime jobs and invest $500,000 in their business will be offered a fast track to residency.

Currently, entrepreneur migrants are issued with a long-term business permit and can apply for residency only after two years.

Should NZ's business migration laws favour the wealthy?

  1. 190
    comments
  2. CamX (Ponsonby)
    10:16AM Tuesday, 17 Nov 2009
    Definitely. Have money or actual usable skills. While were at it we should ship all those that have come in the last 15 years who have neither to Austrlia - free one way tickets!
  3. R M (Auckland City)
    10:16AM Tuesday, 17 Nov 2009
    What do you expect from National? Everything for quick sale. No long term investments, no future. 500K is not a capital, its a joke. Who needs more restorants, taxi and cleaning companies in this tini-tiny market? Yeah, lure them, strip them off and let them go back. Just fast money to be made on newcomers and property. Who cares? Classic speculative attitude of so-called financial liberals.
  4. My Opinion (Henderson)
    10:17AM Tuesday, 17 Nov 2009
    It is good to set this requirement cos the three employees can guide the new boss to the rules and regulations of running a business in this country.

    Most countries has a very much relaxed legislation as compared to NZ. And therefore the entreprenuers needed to be told of our requirements
  5. paul (Auckland City)
    10:17AM Tuesday, 17 Nov 2009
    This isnt going to help NZ. Areas of investment Tourism? Education? training? Hey theres plenty of NZ citizens can fill those gaps. Property development! Get real, and what there bringing with them is a few dollars. NO NO NO.
  6. Troyla (Auckland City)
    10:17AM Tuesday, 17 Nov 2009
    Surely 'wealth' is not the only criteria? Johnny, you immature little 'frat' boy.why don't you just stick a New zealand for sale sign across the internet?

    I don't believe what is happening. In the past I have been critical of the leniency given to Maori to segregate them from the whole population. I believe that New Zealand is too PC in terms of law and order. But, I can understand why Maori are demanding seabed and foreshore rights and in the foreseeable future they will be demanding much more. I, along with them!

    John Key, you are dancing with the devil, you are selling the soul of my country. My ancestors came here as missionaries and I am a white, educated, middle class, fifth generation New Zealander.

    We must move forward and we must celebrate diversity. However, opening the door wide to people with money as their core competency is ridiculous!

    John key.New zealand is not a profit generating business organization.

    Get out of the Beehive!
  7. jac (Tauranga)
    10:46AM Tuesday, 17 Nov 2009
    God, this is scary.
    John Key is a Businessman - not a Leader. We are a country tenuously feeling its way in the World - we are very fragile and I think at the mercy of the rest of the World and its billions.