Category New Zealand Finance
June 12, 2018 New Zealand Finance
Last week the New Zealand government announced that it is launching a public consultation on the post-study work rights of international students in New Zealand.
Currently, international students who graduate from a qualifying course in New Zealand can apply for a one-year work visa which is not tied to any employer. The visa can be followed up by a two-year work visa tied to an employer if the job on offer is relevant to the student’s degree. the system employers to take on students without having to prove to immigration officials that there are no local workers who can do the job.
Under the proposed system, students who complete a degree-level qualificat...Read More
January 17, 2017 New Zealand Finance
In a new report published on January 16th, Oxfam New Zealand has revealed the state of income inequality in New Zealand, claiming that a small number of individuals in the country control more wealth than a significant portion of people.
In its report, Oxfam claimed that just 2 individuals have more wealth between each other than all the wealth held by approximately 30 percent of New Zealand adults.
Further, the richest 1 percent of all New Zealanders collectively hold 20 percent of the country’s wealth, while the bottom 90 percent of people holds less than half the country’s wealth.
The results of the report are based on analysis of total wealth, and not disposable income, as many high-wealth indivi...Read More
September 28, 2016 New Zealand Finance
In a statement issued on September 28th the Minister of Immigration Michael Woodhouse announced that a partner has been found to help the government implement the upcoming Global Impact Visa in New Zealand.
The new Global Impact Visa was first announced in April this year and is intended to help attract more young entrepreneurs to New Zealand.
It was deemed that the current Entrepreneur Visa system is not suitable for attracting younger entrepreneurs with innovative ideas, as the regulations are stacked in favour of established businesses and business operators with long-term experience and sizeable financial backing.
The potential visa applicants will be drawn in and ...Read More
September 16, 2016 New Zealand Finance
On September 15th New Zealand saw the first conviction handed out for the charge of human trafficking.
A Papatoetoe man, Foraz Ali, was convicted of trafficking 15 Fijian nationals to New Zealand to subject them to work for minimal pay and under poor conditions.
Each of the victims was told by Foraz Ali that for a fee of NZD 4 000 they would receive employment in New Zealand paying as much as NZD 900 per week.
However, upon arrival into the country, the workers found that they would ultimately be paid only NZD 100 per week.
Further, the workers were not granted any valid work visas, and, instead, were granted 1 month visitor visas.
Foraz Ali is scheduled to be sentenced in October.
In New Zealand the charge ...Read More