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In the 2019-2020 financial year, two New Zealand investor visas (Category I and Category II) raised $780 million. The first category had a slight decrease compared to the 77 applications received last year due to higher investment needed. Applications for the Category II increased by seven applications. As a result, these two programs raised $72,6 million or 8.5% less than last year, according to IMI.
The New Zealand investor visa, in addition to having one of the highest price tags in the world, stands out as the most exclusive investment migration program for quite a while. Since its creation 11 years ago, the country received 3,252 applications, of which 1,066 were rejected (one in three). Over the past year, the government has rejected 26% of applications, although the rejection rate is significantly lower for the Category I applicants (25% since 2009) than for their "colleagues" in the Category II (34%).
While the difference between categories I and II is significant, the variation between nationalities within these groups is even more pronounced. Indonesia and Singapore were the most fortunate ones with only 16% and 17% of applications rejected, respectively. But among investors from South Africa and Malaysia it is already 40% and 41%.
The minimum approved investments for categories I and II are $6,7 million and $2 million, respectively. In the fiscal year ending June 30, 2020, New Zealand rejected eight Category I applications and 77 Category II applications, which means that in the last year alone the country rejected $207 million.
Nevertheless, New Zealand is still counsiderd to be very friendly towards expats, as well as being one of the most desirebale destination for freelancers.
Photo: pixabay.com
