Nick Arathimos from Immigration NZ, left, Pengbo Jiang from Bank of China NZ, right
Earlier last month, Bank of China (New Zealand) Ltd (BoC) held an event in Auckland aimed showcasing its services for Chinese migrant investors.
The BoC event involved several government agencies, including Immigration New Zealand, and was attended by more than 70 people.
A speaker from Immigration New Zealand outlined the country’s growth investment policy, while other speakers, from Auckland, Tourism, Events and Economic Development (ATEED) and NZTE, highlighted opportunities in tourism, trade and education.
Attendees also heard from BoC about their streamlined visa services, plus their investment services, home loans and other products that can help smooth the path for potential Chinese migrant investors in New Zealand.
BoC has had an agreement in place with Immigration New Zealand since 2016 to provide streamlined visa services for private banking and prestigious wealth clients looking to study, visit and/or invest. BoC also has agreements with Education NZ, NZTE and Tourism NZ.
The event was organised by BoC’s associate director of global immigration, Pengbo Jiang, who is a New Zealand licenced immigration adviser.
Mr Jiang said: “Bank of China New Zealand offers supportive and caring assistance for clients who are interested in bringing significant investment to New Zealand. It can be daunting for many people to research opportunities, understand the rules and develop their networks in a new country. We are here to help.’
Nick Arathimos, Director, Investment Programme, Immigration New Zealand said: “Immigration New Zealand is keen to promote the attractions of investing in New Zealand to potential migrant investors who can make a significant contribution to the country. We want to help potential investors connect efficiently and effectively to the business community and to us, to ensure the full potential of those benefits are realised.”
Ministry of Business, Innovation and Employment research in 2016 found 86 per cent of investor migrants expected to be able to make a significant contribution to New Zealand. One of the primary barriers was found to be a lack of knowledge/ connections in NZ, something Bank of China (New Zealand) Ltd can assist with.
Another barrier cited in the study is a lack of knowledge about what investment funds the New Zealand government deems acceptable under immigration rules. Bank of China (New Zealand) Ltd offers solutions for potential investors that comply with Chinese and New Zealand government requirements.
Bank of China has adopted best practice by developing an investment fund with the oversight of an independent Trustee, Public Trust, independent administration and custody provided by BNP Paribas, and investment in New Zealand shares and New Zealand bonds outsourced to specialist managers, Devon Funds Management, AMP Capital Investors and Nikko Asset Management.
Mr Jiang said: “It is important that foreign investors feel confident their money is being expertly managed.”
NOTES TO EDITORS
Migrant investor visa stipulate a minimum financial investment level in New Zealand from NZ$3m to more than NZ$10m. More information on investor visas
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