Mark Williams: Lane Neave Immigration Expert on the spike in immigration applications from wealthy North Americans

The Immigration Minister says they've seen a spike in immigration applications from wealthy American investors. 

The Golden Visa system was re-jigged to attract those with a minimum of $5 million to invest in New Zealand's economy. 

Applications so far amount to a minimum investment of $260 million, with Erica Stanford saying most are from North America. 

Lane Neave immigration expert Mark Williams told Mike Hosking that's not surprising. 

He says any country in the world facing economic uncertainty would be a source of immigration. 

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Episode Transcript

Speaker 1 (00:00):
Paste which has mentioned this visa. It does. Gangbusters might
be too strong a word, but I mean in the
two weeks since the idea has been open to applications,
we've had forty four of them. That's applications. So these
are the people have got either five or ten million
to invest. If all of them turn up, that's a
quarter billion dollar proposition. We've had one hundred and thirty
six inquiries and as Zeriica quite rightly said, seventy five

(00:20):
percent of coming from North America. Lane Leave. Immigration expert
Mark Williams is with us on this Mark Morning. She says, gangbusters.
Is she right.

Speaker 2 (00:31):
Right?

Speaker 1 (00:31):
So this is a game changer.

Speaker 2 (00:34):
Yeah, These refinements have just really hit the mark. So yeah,
we're seeing huge, huge volumes of interest in huge conversions.

Speaker 1 (00:41):
Has she done anything or has this government done anything
that couldn't have easily been done previously? I mean, is
there a bit of magic here or is just a
bit of common sense?

Speaker 2 (00:51):
I think well, I think a bit of both. Really,
what this government did is really consult very widely with
the private sector. You know, when they sort of shaping
up these changes, sort of have a greater understanding of
the market where the demand is internationally and then use
that in tail to shape up some policies that met
market expectations.

Speaker 1 (01:11):
What do you make of the North America thing? Is
that Trump?

Speaker 2 (01:15):
Well, I think in terms of the United States, yes,
there's certainly some termol there, there's economic insta building, but
it's not just the kind of States America. Any country
in the world where you've got instavidly uncertainty that tends
to drive greater interest in alternative countries like New Zealand.

Speaker 1 (01:31):
Indeed does it? Will it work this time? Because the
criticism previously has been if you've got fible ten there's
plenty people in the world have got fible ten millioniar
park it somewhere useless just to get yourself some residency
or a house or whatever. Will this actually be put
to work and do something for the country.

Speaker 2 (01:48):
It definitely will, because if you have an understanding of
the policy settings, between the growth settings and the balance,
the growth is really going into very productive areas of
the dealn' apartment, such as bench capital funds, early stage companies,
bricks and watar developments. And in all the applications that
then submitted, ninety percent of those have elected growth. So

(02:10):
that's more of the active policy, whereas balances more of
your sort of passive bond equity portfolio. So it's overwhelming
interest in the growth stuff.

Speaker 1 (02:19):
I'm almost out of time. But do they need to
change the rules on buying a house? I mean, why
would I give you ten million bucks of account buy
a house for God's sake?

Speaker 2 (02:26):
Yeah, I think it's sensible to look at that, and
I do hope there is changes there because you know
all the investors we're talking to, it's a topic that
they are interested in. If they're going to spend time
here actively invest in New Zealand's economy, then they would
like to have the privilege of owning a home. Given
the coport is relatively small and types of homes that
these people would be buying them, I'm hoping exemption will

(02:47):
come through for them.

Speaker 1 (02:48):
Well, I hope so too. Mark. Appreciate your insight. Immigration
expert at Lane need Mark Williams with us this morning
talking to somebody who I can't name. The other day,
Peters is holding it up. It's on Peter's and he
needs to change his mind. Fourteen past seven. For more
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