Visa shake-up is good for growth

Michelle Carabine helps migrants into businesses nationally. Photo/Sharp Tudhope

Immigration New Zealand last week announced major changes to its business migration policy that are likely to impact regional centres such as the Bay of Plenty.

"The broad policy reason is to encourage more high-calibre migrants to come to New Zealand," said Michelle Carabine, an immigration law specialist at Sharp Tudhope lawyers. "They definitely want to encourage people who can come to contribute to economic growth."

The changes have been signalled for some time and, as reported by the Bay of Plenty Times business last week, were causing unease in the local Settlement Support New Zealand office, which was expecting to see a change in its role next year after the policy shift.

The new policy replaces the existing Long-Term Business Visa with a new Entrepreneur Work Visa.

"It will encourage business-savvy migrants to invest, settle, and create jobs across the country, by offering extra points for expanding or starting businesses outside of the Auckland region," said Immigration Minister Michael Woodhouse.

"New Zealand needs to attract talented, enterprising, well-connected business people to invest and grow businesses in New Zealand." Mr Woodhouse also noted that the Long-Term Business Visa had not been significantly changed since 1999 and had attracted a large number of low-quality applications.

"The Entrepreneur Work Visa will operate under a new points-based system that will result in higher quality, more productive businesses," he said. Points will also be offered for criteria including job creation, export potential, and business experience. A minimum capital investment of $100,000 will also be required to ensure applicants have the means to create high-growth businesses.

Ms Carabine joined Sharp Tudhope in 2011 after relocating back to her home city in 2006 after eight years' experience in Britain and Australia.

She said the firm was focusing on building its business and migration practice. "I work in the commercial team and our partners see there is a huge potential in Tauranga in terms of business growth," she said. "Getting into the immigration space is another way of tapping into that as well."

Ms Carabine said Sharp Tudhope dealt with applications from people who were looking to do investment or buy businesses all over New Zealand, not just in Tauranga. She added that given New Zealand was so small, clients often found using a firm from another centre provided an additional level of confidentiality.

The firm recently advised a client on setting up the $20 million Aro Ha Wellness Retreat in Queenstown. "That application intersected with a number of other things that were nothing to do with immigration," said Ms Carabine. "Overseas Investment Office consent and the brokering out of other services like specialist tax advice and so on. We don't generally deal with the run-of-the-mill cases."