Slow visa processing stalls $3b+ of foreign investment

Almost three quarters of those waiting for investor visas are said to be either company founders or working at the CEO, CFO or CTO level. (Image: Getty)

Jem Traylen

Thu, 30 Jun 2022

Potential migrants are waiting to invest at least $3 billion in New Zealand according to figures released by immigration minister Michael Wood on Thursday.Responding to written questions from the ACT Party, Wood told Parliament there were 91 Investor 1 resident visa applications currently with case officers as at June 7, with a minimum possible investment value of $910 million.A further 100 Investor 1 applications worth at least $1 billion were waiting to be allocated to case officers.For the Investor 2 residence category, there were 43 applica...

Subscribe to BusinessDesk

Stay informed on business, government and financial developments across New Zealand.

Deeply researched, twice-edited and fact-checked news
Annual subscribers also receive a complimentary subscription to The Wall Street Journal
Personalised email news alerts, plus gift up to 5 stories a month to non-subscribers

You can cancel anytime with two clicks, an email or a phone call.
Find out more.

We are serious about journalism.

Already a Subscriber ? Sign in here.

Name {{ registerForm.errors.get('name') }}

Email address {{ registerForm.errors.get('email') }}

Phone Number {{ registerForm.errors.get('phone') }}

Job Title {{ registerForm.errors.get('title') }}

Password Minimum password length of 8 characters.
Require at least one upper and lowercase, numeric, and special character. {{ registerForm.errors.get('password') }}

Repeat password {{ registerForm.errors.get('password_confirmation') }}

We had trouble validating your card. It's possible your card provider is preventing us from charging the card. Please contact your card provider or customer support.

Credit Card

Cardholder's name

{{ __(plans[index].name) | capitalize }} {{ plans[index].attributes.old_price | currency }} {{ plans[index].price | currency }}

All subscriptions auto renew but are easy to cancel.

I Accept The Terms Of Service

{{ registerForm.errors.get('terms') }}

Tax: {{ taxAmount(selectedPlan) | currency }}

Total Price Including Tax: {{ priceWithTax(selectedPlan) | currency }} {{ selectedPlan.type == 'user' && spark.chargesUsersPerSeat ? '/ '+ spark.seatName : '' }} {{ selectedPlan.type == 'user' && spark.chargesUsersPerTeam ? '/ '+ __('teams.team') : '' }} / {{ __(selectedPlan.interval) | capitalize }}

Markets Market Close

RBNZ rate cut lifts sharemarket, high‑yield stocks climb

The S&P/NZX 50 Index closed up 0.27% or 37.19 points.

Tom Raynel 6:09pm

Law & Regulation

Calibre Partners seeks buyer for Futureverse

The insolvency came just over two years after 50T Funds led a $54m funding round.

Gregor Thompson 3:45pm

Calibre Partners seeks buyer for Futureverse

Economy

RBNZ cuts to 2.5% with more on the table

The committee remains open to further reductions, it said.

Rebecca Howard 3:05pm

RBNZ cuts to 2.5% with more on the table

Sponsored

Why New Zealand organisations need to rethink their cloud strategy

New Zealand organisations have embraced cloud computing over the past decade, but many are now confronting a sobering reality: adoption alone isn’t enough. According to Datacom’s 2025 Cloud & Infrastructure Report, only half of New Zealand businesses say they’ve realised the benefits they expected from cloud – despite significant investment.

Datacom

Sponsored