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New Zealand launches new migrant visa to attract 'experienced' investors
The New Zealand government said on Wednesday that it had created a new investor migrant visa to attract experienced, high-value investors to invest in domestic businesses, the Khaleej Times reported, citing Reuters.
The new Active Investor Plus visa will replace the old investment visa categories and would require migrants to make investments in New Zealand businesses, Economic and Regional Development Minister Stuart Nash said in a statement.
He said the old visas had often resulted in migrants investing in shares and bonds rather than directly into New Zealand companies.
Nash said: "We want to encourage active investment into New Zealand, which generates more high-skilled jobs and economic growth compared to passive investment."
Eligibility criteria for the new visa includes a minimum NZ$5 million ($3.1 million) investment and only 50% of that can be invested in listed equities. The visa category will open on September 19, 2022.
New Zealand is an island country in the southwestern Pacific Ocean. It consists of two main landmasses—the North Island and the South Island and over 700 smaller islands.
Due to their remoteness, the islands of New Zealand were the last large habitable landmass to be settled by humans.
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New Zealand ranks highly in international comparisons of national performance, such as quality of life, education, protection of civil liberties, government transparency, and economic freedom.
New Zealand underwent major economic changes during the 1980s, which transformed it from a protectionist to a liberalised free-trade economy.
levantnews-khaleejtimes
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