You can also submit your application in person to one of the Department of Internal Affairs offices in New Zealand, Sydney, or London.It takes 30 working days to process your application, but if you need your passport urgently, you can pay an additional fee to expedite the process to 10 days.Unless you’re a world-famous billionaire, pretty much everyone is going to have to follow the same steps towards citizenship, regardless of which visa you applied for.The naturalization period in New Zealand is five years.
News of Thiel’s citizenship caused But are that many wealthy investors actually moving to New Zealand? If you’re looking to escape high taxes in the US or the UK, moving to New Zealand may be an “out of the frying pan into the fire” kind of situation, as Andrew likes to say.If you earn more than NZ$70,000 a year, you’ll fall into the top tax bracket of 33%. As a tax resident in New Zealand, you’re expected to pay taxes on your entire world wide income. In the 2018 edition of the widely respected From 2008 to 2017, New Zealand was led by the civic nationalist New Zealand First party. One key benefit is that once held, Permanent Residency in New Zealand is for life. Fees depend on which office you send you application into and whether or not you want to receive a passport at the same time as citizenship. Permanent residents are able to vote and enjoy the same access to healthcare, education, and other subsidized programs.The New Zealand government explains, “Citizenship in New Zealand is superficially similar to permanent residency. Programmes start from a minimum $140,000 including costs.
At 28%, New Zealand has one of the highest corporate tax rates in the world.
You will also have to prove your business acumen and history of success.Business requirements include evidence that you have owned a 25% stake for at least 6 months in a business in New Zealand, proof that you have met the goals outlined in your original business plan, business profitability, and an annual salary, contribution to economic growth in New Zealand, and a capital investment of at least NZ$500,000There are additional requirements for businesses less than two years old which can be found in greater detail For this visa, you can apply directly; you do not need to file an EOI. Foreign billionaires, like American Ric Kayne, have warned that the move would discourage foreign investment, causing unintended economic consequences. Montenegro launched a brand-new Citizenship By Investment program in November 2019, and the program is still active as of May 2020. The Bush is world-famous for its lush vegetation and animal life that can only be found in NZ, while the Land of the Long White Cloud is also renowned for its well-preserved beaches. While you must have NZ$3 million invested for the entire four year term, you can move your funds around to different forms of acceptable investments. There are two options for gaining Permanent Residency in New Zealand through immigration investment.
Additional requirements include English language proficiency and at least three years of business experience.
Transitional tax resident status would mean the government only expects taxes based on your income in New Zealand.New Zealand has two official languages, English and Maori. Citizenship ceremonies are coordinated through local offices, not the Citizenship Office, so you will receive a separate letter about your citizenship ceremony a few months after your application is approved.While Peter Thiel was able to hold a private citizenship ceremony in Santa Monica, you’ll probably have to wait to be assigned a public ceremony in NZ to attend. To live in New Zealand as an Australian citizen you just need to hold an Australian passport and prove that you are of good character. And why would investors and entrepreneurs choose a country with such a high tax burden as their refuge?New Zealand has gained a reputation in recent years as a safe haven for the mega-wealthy, or a “bolthole,” as the locals call it. The program was “designed to attract talented and visionary entrepreneurs, investors, and start-up teams with the drive and capabilities to create innovation-based ventures in New Zealand.”Most entrepreneur or investor visa programs in the world require the applicant to have access to large sums of money.
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