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Marcus Beveridge, Principal, Queen City Law Bradley So, Lawyer , Queen City Law DECEMBER 2012

MIGRATION FROM ASIA: Issues and Challenges under the Investor Category. Marcus Beveridge, Principal, Queen City Law Bradley So, Lawyer , Queen City Law DECEMBER 2012. Topics Introduction Trends in the Investor Category Intersection with Economic Developments Case Study

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Marcus Beveridge, Principal, Queen City Law Bradley So, Lawyer , Queen City Law DECEMBER 2012

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  1. MIGRATION FROM ASIA: Issues and Challenges under the Investor Category Marcus Beveridge, Principal, Queen City Law Bradley So, Lawyer, Queen City Law DECEMBER 2012

  2. Topics Introduction Trends in the Investor Category Intersection with Economic Developments Case Study Comments and discussion Have we got it right? Proposal Proposal to BMB for review OVERVIEW

  3. INTRODUCTION • INCREASE IN MIGRATION FROM ASIA • North Asia 18.1% • COMMON OPTIONS • Skilled Migrant Category • Long Term Business Visa • Investor Category • FOCUS ON INVESTOR CATEGORY • Policy is being reviewed BMB is looking for consultation

  4. TRENDS IN THE INVESTOR CATEGORY

  5. TRENDS IN THE INVESTOR CATEGORY • NUMBER OF INVESTORS • 2001 - 1088 • 2002 – 1087 • 2006 - 39 • 2012 – 167 • INVESTED FUNDS • 2001 - $1,132,000,000 • 2002 - $1,203,400,000 • Since 2009 – $1,225,500,000

  6. INTERSECTION WITH ECONOMIC DEVELOPMENT • a significant driver of economic development. NZ needs capital from overseas investors to fund construction projects, businesses, agriculture etc… • QCL are involved in a number of commercial projects

  7. CASE STUDY • Settlement Fund • Building of their office in husbands name valued at NZD $500,000.00 • Apartment under wife’s name valued at NZD $500,000.00 • Background • Couple who are Chinese National aged 45 • Both have 10 years business experience as dentist • Both couple have respectively been operating their own practice as a sole trader each business employ at least 5 staff • IELTS 5.5 • Investments Fund • Bank Deposits in China valued at NZD $500,000 under husbands name • Bank Deposits in China valued at NZD $500,000 under wife's name • Shares valued at NZD $500,000.00 under husband’s name

  8. HAVE WE GOT IT RIGHT? • Objectives of the Investor Policy • Attract financial capital to local firms or government • Current Policy • Considerably better than the 2006 policy • Room for improvement • Pros • Active investment that will stimulate the economy • Flexibility on where to invest • Migrants attracted can contribute and maintain external links • Cons • Too onerous in terms of source of funds and the banking requirement • Restrictive with ownership issue

  9. PROPOSAL • Factors to consider • It will encourage enterprise and innovation • It will be invested in areas where it will contribute to the economic growth of NZ • There should be a mechanism in place to ensure that the investment funds were earned or acquired lawfully • The migrants that are attracted will be able to contribute to NZ and further establish external links with NZ • The requirements are in line with other jurisdictions and will provide NZ with a competitive advantage against other countries

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