Chief Executive of Priority One with Nigel Tutt

The Government’s announcement to make changes to New Zealand’s migrant investor visas is a welcome one.

 This scheme provides wealthy migrants with a New Zealand visa in exchange for them investing some of that wealth in this country. It’s common in other countries around the world but these schemes are frequently subject to change at the whim of politicians.

In our case, the theory is well-off, talented people can add value and help the country earn more, so we can let a few of them come here and make Aotearoa home. The new policy settings for our country reduce the amount of capital needed to be invested and relax a few rules around requirements to get in. In doing so, they are more permissive and will encourage more people to migrate to the country.

Priority One has traditionally been quite active in this space. We do this because we want to grow the capital and connections available for our local companies, so we focus on a few talented migrants that can help this cause.

We can grow the quality of our economy by encouraging companies that produce high value products or services, who in turn create high value jobs for our community. Exporters seeking to grow their businesses not only need the capital to do so, but they also need connections and expertise that often aren’t found in this country.

In this region, we’re lucky to have a number of migrant investors living here, flying under the radar, actively contributing to local companies. They also contribute to some of the investment funds we have here, adding to their already strong position.

I’ve witnessed first hand that these investor migrants are huge advocates for New Zealand in their home countries and actively help out Kiwi companies.

The few hundred people who choose to migrate here under this visa each year are successful, have a number of choices about where they can live, and so consider a move carefully.

They’re attracted here by either a good past experience, or by us being a country that aligns to their values. They’re often keen to make a meaningful contribution and use some of their skills for the country’s benefit. That is exactly what we want.

Often schemes like this create public perceptions without much commentary on the value they bring. For the Western Bay of Plenty, this policy works and can add real value to our exporting businesses in particular, something we will need as our economy begins its resurgence.