Duncan Garner: Government reviewing wealthy investor immigration category - sources

OPINION: Over the past 10 years New Zealand has attracted in excess of $10 billion dollars from wealthy migrants being granted entry into New Zealand.

They each pay $10 million for the privilege. They might set up a business or invest in infrastructure as long as it's $10 million.

But this Government is currently reviewing immigration policy and The AM Show understands that includes the $10 million category - with a view to scrapping it.

Final decisions are yet to be made but more than 100 investors are in a queue waiting to be approved and they are likely to be sent packing, according to sources.

Immigration experts have approached The AM Show - these are people who have previously helped the Government design the immigration system. They are well regarded and concerned that scrapping this category leaves the country worse off.

They feel shut out by a Government that has not consulted much on immigration.  

Australia recently dropped its investor category to $2.5 million to attract 13,000 millionaires.

New Zealand, it is understood, is going the other way in an attempt to attract the very top dogs by raising the bar to $25 million.

Big business has approached The AM Show's source expressing concern that New Zealand stands to miss out big time.

And we've been here before.

We might live in paradise but by pricing the point of entry too high, we might end up killing the golden goose.

That's the last thing our economy needs - especially with big events like America's Cup poised to be raced overseas. 

Why does the Government want to make it so hard for the rich?

Duncan Garner hosts The AM Show.