Immigration Minister Jonathan Coleman says looser immigration rules are attracting more wealthy foreigners to consider living and investing in New Zealand
Speaking at the New Zealand Australian Investment forum in Auckland, Dr Coleman says 99 rich migrants have expressed interest in investing here since language and investment capital requirements were relaxed seven months ago.
He says their applications show they're prepared to inject a total of $163 million into the economy, with Government bonds cited as the most popular investment choice.
Dr Coleman says there has been surge in interest since the rules were relaxed, with most migrants coming from China, the United Kingdom and the United States.
He says migrants are crucial to boosting the country's economic growth, and he's made it a top priority to attract more here.
