Attracting rich immigrants to retire to New Zealand is proving harder than expected.
Latest figures obtained by ONE News show the government’s new immigration scheme has only attracted 12 applications since it was launched in March.
“It was supposed to deliver economic enhancement for New Zealand and economic progress and when you’ve only got 12 people applying you ain’t got much of that,” Pete Hodgson, Labour’s Immigration spokesman, said.
But the government is pleased with the numbers. “I think it’s a very good start and it’s way better than the last government were able to deliver,” Immigration Minister Jonathan Coleman said.
There are two schemes on offer.
Applicants for the parent retirement category will need to have $1 million to invest over four years and have a child who is a New Zealand resident or citizen. There have been seven applications for this option.
The temporary retirement visa requires $750,000 to be invested and will get a two year permit but has only received five applications.
“It’s a flop, pure and simple,” Hodgson said.
But the government said it had to make the conditions tough.
“If you make the criteria too loose you get a whole lot of people who can’t support themselves,” Coleman said.
None of the applications have been accepted yet, but if the migrants meet health and income tests, they could potentially bring in $12 million.
The applications have come from South Korea, the United States, Malaysia, China, South Africa, Denmark, the United Kingdom, Belgium and Russia.
The minister says the retirement package is part of a suite of business migration schemes that have so far brought in $90 million.