The passing of KIWI Act would allow New Zealand citizens soon to be eligible for E-1 (trader) and E-2 (investor) visas to the United States.
President Trump has to sign into law.
The Knowledgeable Innovators and Worthy Investors Act (KIWI Act) would allow New Zealand nationals who qualify to enter the US multiple times over two years without having to apply for a new visa each time.
According to Senator Hirono, giving New Zealand’s citizens access to the E1 treaty trade visa and the E2 treaty investor visa will spur further US economic growth.
Acting Prime Minister and Minister of Foreign Affairs, Rt Hon Winston Peters said “The United States is a key strategic partner for New Zealand. If approved, these visas would improve access to the US for New Zealand businesspeople and investors, further developing our trading relationship to the benefit of both countries,”
New Zealand already attracts a number of wealthy HNWIs families through investor visa scheme.
The Investor Visa (Investor 2 Category) is an option to invest a minimum of NZ$3 million over a four-year period. Investor 1 category requires $NZ 10 million or more from HNWIs.
New Zealand granted high value 176 Investor 1 visas and 1303 Investor 2 visas from July 2007 to Sep 2017 (10 years), according to Statistics from New Zealand Immigration Office.
If NZ gets approved for US E-1/2 treaty visas, it will propel foreign investors in New Zealand expand their business subsequently into US, without going through the EB-5 scheme.
What is E-1 and E-2 visa?
- E-1 Treaty Traders Visa: The E-1 nonimmigrant visa allows a national of a treaty country (a country with which the United States maintains a treaty of commerce and navigation) to be admitted to the United States solely to engage in international trade on his or her own behalf. Certain employees of such a person or of a qualifying organization may also be eligible for this classification. A request for E-1 classification may not be made on Form I-129 if the person being filed for is physically outside the United States.
- E-2 Treaty Investors Visa: The E-2 nonimmigrant visa allows a national of a treaty country (a country with which the United States maintains a treaty of commerce and navigation) to be admitted to the United States when investing a substantial amount of capital in a U.S. business. Certain employees of such a person or of a qualifying organization may also be eligible for this classification. A request for E-2 classification may not be made on Form I-129 if the person being filed for is physically outside the United States.
Source: scoop.co.nz
