Tuesday, May 28, 2024

NZTE appoints investor panel

New Zealand Trade & Enterprise (NZTE) has appointed an independent advisory panel to support New Zealand’s new Active Investor Plus visa scheme.

The panel will determine which investments – whether a managed fund or a direct investment into a New Zealand company – will qualify for the visa’s special weighting.

Under the Active Investor Plus scheme, overseas investors who wish to apply for New Zealand residency must have a minimum of $15 million to invest. However, the special weighting means that they can apply for residency with a direct $5 million investment into an approved Kiwi company, or a $7.5 million investment into an approved managed fund.

The scheme is designed to ensure that migrant investors are taking an active role in the development of New Zealand’s economy.

The advisory panel is:

•          Mel Hewitson MNZM, Chair

Mel is a professional company director with an executive career in institutional investment and fund management, risk, compliance and financial regulation. Mel’s current board memberships include Fidelity Life Assurance, Simplicity NZ, Ngāti Whātua Ōrākei Whai Maia, Domain Name Commission, Auckland Foundation and Foundation North.

•          Debbie Birch

Debbie is a professional director with a focus on Māori economic development and has more than 30 years’ experience in capital markets, banking, finance and investment management. Debbie is currently the Chair of IWIinvestor, Chair of Raukawa ki te Tonga AHC and a non-executive Director of Tourism Holdings, Ngāti Awa Group Holdings and subsidiaries Te Pūia Tāpapa GP and Tūwharetoa Hau Rau GP, and Eastland Group and subsidiaries.

•          Pip Dunphy

Pip is an independent director with experience and knowledge in capital markets, banking, finance and investment management. Pip is currently a director of Tuatahi First Fibre, Dangerous Goods Compliance and a member of the NZ Markets Disciplinary Tribunal.

“We are delighted to have the experience and knowledge of Mel, Debbie and Pip for this panel,” said Dylan Lawrence, the General Manager of Investment at NZTE.

“They have a strong understanding of New Zealand’s capital markets and will ensure that everyone has confidence in the process, and that the range of options available to our Active Investors are important parts of New Zealand’s economic development.”

Once investments are determined acceptable by the panel and confirmed by NZTE, the managed funds are added to a list published on NZTE’s website, while direct investments receive a letter of confirmation to provide to their investor as evidence for Immigration New Zealand.

NZTE enlisted an external search agent and independent nominator to actively search for and recommend potential panellists to NZTE, who were then endorsed by NZTE’s Board.

The panel members will complete a declaration of interests and affirm before each meeting that there are no new conflicts, NZTE said in a statement today.

The panel is scheduled to meet for the first time in February, and is expected to then meet monthly to review applications.

More information about the Active Investor Plus scheme is available here.

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