Easy passports for the rich

• Mike Smith
• 13 years ago
• Categories: Economy, im/migration, jobs, overseas investment

The National Government has relaxed the rules for so-called business migrants, those who can get easy access to a passport by investing in New Zealand. The Minister is proud that the scheme has now raised $562 million. He says it is part of the government’s economic growth programme. The key relaxation seems to be that rich would-be migrants can now invest in residential property. As one of them says:

“Asian investors, especially the Chinese, are happy and comfortable to be investing in residential properties,” said Ming Tiang, a licensed immigration adviser from Chiwi Immigration Services.

So National’s growth strategy is the same old residential property bias that we are told has been the cause of all our problems.

Then again maybe this is part of the growth strategy – kitset houses from China.