An immigration expert is rubbishing the Government's newly-created visa category to attract high-value investors to New Zealand.
The active investor plus visa, announced by the Government on Wednesday, includes a minimum $5 million "active" investment, while the minimum amount of money required for indirect investments is $15m.
Investors would also need to spend at least 117 days, or about a month per year, in New Zealand during the four-year investment period.
But former Immigration Minister Tuariki Delamere said the visa wasn't fair to migrant investors.
Delamere, now an immigration advisor, said an English language requirement for the visa also made it "the anti-Chinese policy".
"There are a lot of people that'd like to come here because of New Zealand," Delamere told AM. "Yes, they're wealthy - I don't believe wealthy people need English. I brought people in 20 years ago and they happily lived in New Zealand [and] employed many people - they still don't speak English."
Delamere was concerned the policy was designed to deter investors from parts of Asia.
"That's the only conclusion I can come to," he said. "The Americans, the Australians - they don't have this 'language' problem.
"If it's such an issue, why only make them stay in New Zealand for one month a year?"
Delamere also raised concerns about the $5 million requirement, pointing out the United States only required US$800,000 (NZ$1.28 million) investment under its EB-5 immigrant investor program.
"Right now, they've got over 700 applications they haven't processed for about three years so why would anyone have any confidence in investing in New Zealand?
"I think a lot of these people actually want to come to New Zealand… but they apply and, three years later, nothing's happened - they've paid millions in fees and Immigration NZ is doing nothing," Delamere said.
He urged the Government to bring in immigration advisors with business experience.
"Get people who've actually worked in the business environment," he said.
In a statement to Newshub, Immigration Minister Michael Wood said the English language requirement woud help attract investors who could be "actively involved in the businesses they support".
"We don't expect this to be a barrier for the majority of globally experienced investors as it is not an expectation of perfect fluency, rather it will ensure they can quickly integrate with the companies they invest in and use their knowledge and skills to help businesses grow faster."
On Wednesday, Economic and Regional Development Minister Stuart Nash said the new visa would require migrants to make investments in New Zealand businesses.
Nash said the old investment visa categories had often resulted in migrants not investing directly in New Zealand companies but in shares and bonds instead.
"We want to encourage active investment into New Zealand, which generates more high-skilled jobs and economic growth compared to passive investment."
The visa category was due to open on September 19.
