2 Billion NZ Dollars Worth Of Investor Visas On Hold
The immigration authorities in New Zealand responsible for the issue of new visas cannot issue any new visas, including Investor Visas to HNWIs and affluent entrepreneurs – as the borders are currently ‘closed’ to contain the spread of Covid-19. Resulting in approximately 2 Billion NZ Dollars worth of Investor Visas on hold. It is estimated that about NZ$ 2 Billion is currently on hold with about 400 or so applications hanging in the balance. These investor visas could represent much needed funds that could be used to bolster the New Zealand economy in these trying times, but very few Category 1 Investor Visas and Category 2 investor Visa applications have been approved. The rationale being that – as borders continue to remain shut, granting new visas is contrary to the government’s health policy and applicants would be unable to meet their entry requirements (see below).