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With an aim to set up new business and boost the economy of the country, New Zealand Government is coming up with plans to attract the best entrepreneurs from the foreign land. India is certainly a potential country when it comes to attracting the entrepreneurs.
Now the aim is to ensure that high quality businesses are set up so that the country becomes stronger on this aspect.
Michael Woodhouse, Immigration Minister announced that by the month of March a new visa system would be set up which would be replacing the old one. It is strongly believed that the old system has been in place for more than a decade without any change and a modification in the same is the requirement of the hour. Probably, the old system fails to attract high quality business set up which has not proven to be beneficial for the country.
The new visa system
From March 2014, a new entrepreneur visa system would be in place which would mean a new point based system. The points would be allotted in terms of jobs created by the business, the potential of export and the experience held by the entrepreneur.
The new system would also entail that there has to be a minimum capital investment of 100,000 NZ dollars. This is done to be sure about the fact that the investor coming here has the potential to impart financial growth to the country, along with presenting an innovative model in terms of setting up a business.
The Immigration Minister said, “There is a need to attract talented, enterprising and well-connected business people so that there is adequate business growth in New Zealand”.
He also added that the changes would attract migrants who are established entrepreneurs and are more talented than the common lot. He suggests that the changes are brought to open job opportunities for the people of New Zealand and also to establish profitable business in the country.
Points would be awarded to those planning to set up a business around New Zealand.
The advantage of having such a policy
This policy attracts almost 500 migrants who offer job openings by establishing business in the country; in turn they get to stay here rightfully and legally.
The need of reviewing the existing policy
The policy functioning under Long Term Visa display little potential for export growth. And hence this time a considerably high amount has been set up for the immigrant to be eligible to come here. In spite of this limit, there can be considerations made for an individual case especially if the setup is likely to be related to Information technology sector.
New Zealand is a place which has been attracting a large number of investors coming from many countries. However, the need of revising the existing policy has been felt so that the best and brightest could be attracted. At the same time there is a strong plan to provide incentives to the deserving immigrant entrepreneurs.