The National Party would appoint a Minister of Technology and create new visas to attract skilled workers and entrepreneurs, if elected in October.
In a press release, technology spokesperson Judith Collins said the shortage of skills and expertise was one of the main barriers to growing a tech business in New Zealand.
To combat this, National would create new visa categories for skilled immigrants. One, an International Graduates Visa, would be a three-year work visa for up to 500 graduates of the top 100 universities around the world.
These people would not need a job offer before moving, and their partners would be allowed to work as well.
A Global Growth Tech Visa would offer residency to up to 250 skilled workers, and their families, who had earned over $400,000 working at a top global tech company.
Immigration New Zealand would develop criteria for which global tech companies were eligible in consultation with local firms and the tech sector.
A Digital Nomad Visa would allow 250 skilled workers to live in New Zealand for 12 months while working for an overseas-based company, with an option to apply for a regular visa if they want to stay.
These kinds of visas have become increasingly popular as remote working has become more common during the pandemic and are now offered in over 40 countries around the world.
Applicants must have earned at least NZ$20,000 a month in the previous six months and have health insurance. Their partners would be allowed to work in New Zealand.
Collins said these new options would make it easier for the tech sector to attract and retain talent, which was part of National’s plan to rebuild the economy.
Startup taxes
While ministerial roles won’t be doled out until a government gets formed, Collins would likely take on this new technology portfolio were National to win the election.
The new minister would be responsible for working with the private sector to enable growth.
“They will work with industry leaders and organisations to boost productivity and commercialisation, support R&D, and ensure emerging technologies like Artificial Intelligence are being used safely and ethically,” a policy document said.
They would also lead work on reforming the tax regime that applies to stock options, which are commonly part of salary packages in start-up companies.
Many new businesses offer their employees the option to buy shares in the company at a reduced price at some point in the future.
Under the current rules, income tax is charged on any value gain that occurs when the employee exercises the right to buy the shares.
This means founders and employees have to pay income tax on the value of the shares, even though they haven't sold them or realised a capital gain yet.
National has promised to “investigate changes” to these tax rules once in office, but did not give any specifics or make a commitment to the reform.
*You can see all the major political parties' policies here.
59 Comments
LOL $20,000 a month, why on earth would any young remote tech working person come and stay in NZ? Bad weather, high crime, insanely high COL, and young remote tech working kiwis are exiting.
My colleague just moved to Thailand, and I'm working on the same after new year. We both work remote and can invest / make our income go much further in other nations.
I'm not sure how much more out of touch these people could be....
“why on earth would any young remote tech working person come and stay in NZ? Bad weather, high crime, insanely high COL, and young remote tech working kiwis are exiting. ”
People who are sick of where they live now just like many Kiwi want out because theyve had enough of NZ. Someone leaves others will fill the spot, our tiny population of 5 million is very very easy to replace.
I often work with digital nomads and remote working developers who are ĺiving overseas. Many have expressed an interest to spend time in Nz.
Surfing, skiiing, outdoor pursuits... great adventures and places to see. its an interesting destination. Ditto for tech entrepeneurs
We can sit and do nothing and complain our country is going backwards... or attempt to change things.
At present i know a lot of tech professionals and teachers moving to aus and i hear of lot of fruitpickers are coming to nz. Courtesy of labour.
I like the policy and direction. Nice one Nats.
So attempting to change things is target 250 individuals making 400k+ a year and any average kiwi can get a life elsewhere?
Sounds like we're doing God's work here 🙏.
Yes I'm complaining but more so that we're ignoring the core issues and focusing on band aid solutions that don't really do much.
Keep in mind both me and my colleague work for a NZ company, so taking our derived value from NZ and spending it elsewhere. Pure drain, but why not?
The drain to aus is great proof of this. Let's put kiwis through 13 years of school and then smile and wave them off to Australia or other economies!
Keep in mind both me and my colleague work for a NZ company, so taking our derived value from NZ and spending it elsewhere. Pure drain, but why not?
You're like 24 or something yeah? The country just spent hundreds of thousands of dollars raising and educating you, over a couple of decades, maybe also supporting your family.
You've contributed about zero to NZ, you owe it, not the other way round. But because it's not solving every problem you deem important, this justifies gapping it?
Fair enough if you want to enjoy cheap living somewhere else, but you don't need to dress it up with a moral justification.
What constitutes "owe" when we speak of what a young person owes to the state that raised them.
My reasoning for leaving NZ isn't just for cheap lifestyle by a beach, the future outlook for NZ is bleak, to the point I don't believe I'll be able to own a home and raise a family in a safe, stable environment.
Considering 29% of my earnings are paid to the state, is asking for an affordable family future in a safe environment asking for too much?
If we actually step back and evaluate what my current situation is, it would be getting into neck level debt for 40 years to pay off the lavish spending on borrowing that boomers are currently taking part in.
Do I owe the older generations 40 years of wage slavery and accepting state decline so they can continue to enjoy wealth that hasn't been realized and is being borrowed against the future?
Do you ever see it the other way?
Some next level ignorance if you truly believe those who are raised here owe their life to this economy, regardless of how the outlook is.
Young people are gradually waking up, of course no western nation is perfect here but NZ is far from the better end of them.
I refuse to slowly be drained of my economic energy because we as a state refuse to address the hyper inflated asset bubble that is housing. It's protecting boomers that enjoy lavish comfort, off an asset that has paper value, borrowing against the future wealth and energy of future generations work.
Who owes what here?
We can sit here and argue about it all day Painter but it's clear, young kiwis are waking up, at least those that are thinking years ahead of now and have some sense of aspirations.
Some next level ignorance if you truly believe those who are raised here owe their life to this economy
Not your life, no. Well, maybe if you wanted to defend it. But there's generally a give and take in a relationship, for it to benefit both parties. This far, you're all take.
I can't blame anyone for looking at the cost of living and decide to circumvent it by doing it somewhere else. But to blame the country for not meeting your expectations, says more about you than it.
I care much about NZ and it's sad this is the reality. I'd rather stay if the math made sense but it doesn't. If we continue on the same path as the last two decades, NZ will be in a dark place.
It's a give and take for sure, but I've done my research and it looks to be a life of giving to pay off the taking from current generations milking fake value from property.
Your inability to admit that the fact a working couple in NZ above average roles will still struggle to afford a below average home, and if things continue in the next decade which become impossible for that working couple, says far more about you.
Life's getting tougher for workers, for sure.
Maybe if you were going to do a Thai job in Thailand it wouldn't seem as usey.
Please, go and get as much experience overseas as possible. Try not to just sit in a different location staring at the same screens though.
I'm a boomer and live in a house that is valued over $1m. I doubt most would describe it as lavish but it is pleasant. If it was worth nothing I'd still be in a pleasant abode. Pushing prices down by building more and changing investors incentives would not trouble me but help keep my adult children in NZ.
Well Pa1nter there is a worse scenario, we could always not educate & train them and they stay? I subscribe to zero loyalty, do whatever is best for you as neither your company nor country cares for you one jot. I spoke to a relly this morning who said many of his colleagues have moved to Australia. Maybe if we can offer them a future some will return?
Well Pa1nter there is a worse scenario, we could always not educate & train them and they stay? I subscribe to zero loyalty, do whatever is best for you as neither your company nor country cares for you one jot. I spoke to a relly this morning who said many of his colleagues have moved to Australia. Maybe if we can offer them a future some will return?
Possibly (and this is just a theory), the shifting global demographic condition away from procreation may greatly diminish the concept of the nation state. So instead of having "countries" that the individual is groomed to share an identity with, instead we just have various commercial territories competing for willing workers of a global workforce.
This is, I feel something that's actually already existed with the onset of colonisation, but will ramp significantly as worker populations continue their decline.
As for loyalty, this is definitely a thing still, but much rarer. Like a handshake sealing a deal, or someone's word actually meaning something. If you can actually find these things, they are fairly valuable, and worthy of reciprocity.
My colleague just moved to Thailand, and I'm working on the same after new year. We both work remote and can invest / make our income go much further in other nations.
Thailand is much cheaper, for reasons. If you don't have to find out those reasons, it's great.
NZ isn't going to compete with people who'd rather be in Thailand. Or Morocco, Italy, that sort of thing. They usually come to a place like NZ, for the things NZ does that developing nations often don't.
We're getting closer to these countries though, because Western superiority is harder to come by when everyone else can read and write better.
Not so long ago during the pandemic there was a large spike for immigration enquiries for New Zealand. Now the reasons for that are of course very obvious but underscoring that, in general terms , New Zealand does have a lot to offer if the remoteness and a somewhat slower lifestyle is attractive to any individual or family. Some would see real benefit in greater space & privacy with which to enjoy life. Certainly not everyone’s cup of tea but there will be I suggest, more than enough that would take the opportunity. How about just leaving it up to those folk to decide for themselves then.
I've spent many years living throughout Asia. They're happier, because their religion and culture makes them content with less. Life is worse for the average Thai, than the average Kiwi. And way worse again if you're a minority. Less of an issue for you, because you get a dividend being born in NZ.
Have you ever asked many Thais what they don't like about their country?
Have you ever asked many Thais what they don't like about their country?
Have you? While Thai people may be able to potentially earn more in NZ than in their own country, they also have to live in cold, damp conditions (not to mention the cost) compared to their own country. Furthermore, their opportunities will be relatively limited compared to existing citizens. It's not necessarily racism but in many ways their cultural values don't fit with the mainstream.
I make it a fairly solid point to speak to as many locals wherever I am to get a gauge for how they actually feel about their country. Its aided greatly in forming an appreciation for just how fortunate being a Kiwi is. For Thais, in order, they don't like
- the level of corruption, at every level
- their low incomes/cost of living
- lack of class mobility for anyone other than those born into privilege
While NZ has these problems, they are in a different league in Thailand. Many of the entitlements and benefits enjoyed by Kiwis, are beyond many of their imaginations.
Furthermore, their opportunities will be relatively limited compared to existing citizens.
They generally have a work ethic and more frugal/collective lifestyle that has many of them succeeding doing the same sort of menial work that'd barely buy them food at home. As part of their nature, their focus is on how improved their life is, and not how they're faring next to a Kiwi. Envious comparison is something we specialise in, and as someone once said, comparison is the thief of joy.
It might be a baffling concept to wrap your head around, and it's understandable, given the current social and economic problems we have, a lot of people are drained. But as much as people want to leave this place and watch it to burn to the ground from afar, it most likely won't happen. NZ will continue to be a sought-after place to live, the world will continue to spin, regardless of people's emotions.
Bad weather like we're is that. Do you mean fires like California/Hawaii Canada Europe.Or how about 10 foot of snow that most North Americans and Europeans put up with each winter. Man aren't you lucky to be able to work remote and on a beach. Us older ones couldn't do that but hey we can brought a house. So way more opportunity now for the younger ones to do that lucky them should I be bitching about it. Last look on you tube at 10 most desirable countries. And NZ comes in at 7th beats Aus. Most respondents are American .out want a clean English speaking country and we bet Aus because we ain't as we are more friendly and ain't as racists. What the video also points out is what one person wants another one hates.
Having worked at a "top global tech company", NZ certainly holds an appeal for its nature, quietness, winter sports, etc. Not for everyone of course, many will prefer an actual international city. But unless you can hold your overseas salary and work remotely from here that will die away pretty quickly given the nature of tech salaries here.
$20k/month ($240k/year) is nothing, new grads will be making more than that in the US at these companies. But you'd struggle to make that as an employee with any level of experience at a tech company in NZ.
This is an alright policy piece with some good stuff in it, if they follow through supporting startups, for instance. The bar might be a bit high for that salary though, $400k? Geez, thats going to attract maybe 20 people or something, that's a very, very small group of people making that in tech as salaried employees. Maybe combined with the digital nomad visa, it could bring in some people, but won't they just be adding to NZs issues? Reducing the number of houses for rent while only providing services for foreign MNCs anyway? Might need a serious look at the tax system for those people.
It also kind of reeks of "We don't want to build the capacity for NZ to produce top flight candidates anymore cos we are not going to fund the Uni's to do so, so need to rely on NZs scenery to provide incentives instead". I don't think any country ever got rich by relying on foreign countries for education and hoping people will want to move there.
Tax, yes hopefully. Spending in tourist areas possibly.
I don't think that's the intention of the policy though, its to promote long term growth of a high performing sector. Seems like they are just trying to avoid doing it the right way (growing talent, then companies internally before exporting them to the world), rather just hoping some talented people come here and set up shop? Or come here for a working holiday while still maintaining their overseas residents and sending most of the salary back? Tough to see this as a good thing.
What they should really do is: Focus on funding university high tech departments and research. Then do a bunch of scholorships for the highest performing people (say 1000) coming out of high school. Then give big tax breaks for companies to employ (and pay) interns coming out of these courses (this is a big problem area here, but mainly due to business reticence and middle manager stupidity, along with a race to the bottom immigration policy). Plus give R&D tax breaks plus more grants to startup companies.
Do those things I have listed and you will build really really good long term IT company growth in the country. The immigration part of the policy is a classic short term "look like I am doing the right thing" policy.
400k NZD / year is not that high in the US, assuming these "top global tech companies" are the ones I assume they're meaning, i.e. Apple, Google, Facebook, Netflix, Microsoft, Amazon, etc., you'll be hitting that after 3-4 years experience, the majority of their engineers are making more than that
Really? I just searched, and the average salaries in Google and Facebook came up at about 130k USD.
Where are you getting your info from?
https://www.payscale.com/research/US/Employer=Google%2C_Inc./Salary
https://www.payscale.com/research/US/Employer=Facebook_Inc/Salary
Maybe base salaries are that for a new engineer, but total package including bonus (typically 15%) and equity compensation will bring it up. Heck I was on a base salary of 105k 10 years ago and they've gone up a lot since then. There is also a big difference based on location, outside the US pay is much lower.
See here: https://www.levels.fyi/?compare=Google,Facebook,Microsoft&track=Softwar…
~$236,000 USD ($400k NZD) total compensation is not hard to get for people in, say, SF/NYC in the USA in tech companies. That's an intermediate software engineer at Google/Facebook/Amazon etc., e.g. someone <5 years into their career. There are hundreds of thousands of Americans that are at least at that level and in those locations.
Since 2022, over 20,000 Chinese with assets of over 1m USD have left China. Many are going to Japan because it is easy to enter. In terms of tech talent, many are heading there.
-- Visas are easy. If they invest JPY5 million yen (with some conditions), they can get a business resident visa.
-- New high class tower mansions in prime areas of Tokyo are seen as cheap (following article says they are 40% cheaper than similar property in Beijing/Shanghai and in some new buildings now over 20% of residents are Chinese).
-- Tokyo is comfortable for Chinese. Since 2018, Tokyo's Chinese population has grown by double digit percentages in a majority of Tokyo's 23 wards. There is also a big online network and support system for Chinese living in Tokyo. Japan's Chinese population grew by 60k in 6 yrs.
Article is in Japanese language.
that was already the case for at least 8 years prior to the border shutdown (in the lower echelons at least).
not a single young friend graduated that was able to find a job where their wages were nob being suppressed by the availability of indian/philipino imports working for 35k a year and stacked a dozen per house - off the back of student visas through the universities. of the group i was close to, only one remains in NZ.
Easier to attract and retain talent? They’ll still be working for their overseas companies, and after seeing nz market rates they would not be likely to settle for anything less than their $240k and probably move home
This will likely push up tech salaries if expanded.
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