Super-rich are good for NZ - Key

Kim Dotcom
James Cameron

The tiny number of super-rich investors who come to New Zealand generally add value to the country far beyond whatever initial investment is required of them to gain residency, Prime Minister John Key said today.

He was defending the decision to allow Megaupload internet file-sharing entrepreneur Kim Dotcom to gain residency despite convictions in Germany and Hong Kong, which it was decided were minor in nature and should not affect his permission to live in New Zealand in return for a $10 million investment in government bonds.

Key said it was “not for me to opine” on whether Dotcom had broken American law by establishing Megaupload, but that the Investor Plus category of migrant had been, on the whole, valuable to New Zealand.

He cited New York billionaire Julian Robertson, who has developed tourist resorts in New Zealand and made the largest single art collection donation in Australasia, film-maker James Cameron and Paypal founder Peter Thiel, an investor in kiwi accounting software company Xero, as examples.

“Having high net worth individuals come here is a positive, in my view,” he said at his weekly post-Cabinet press conference. “There will never be massive numbers. There aren’t that many of them.

“The vast bulk of people don’t come in the super-rich category, if you’re talking about how people get citizenship,” Key said.

Wealthy migrants needed to show they would bring benefits to New Zealand and were committed to the country.


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Absolutely John

Thanks for confirming that Dotcom has broken no NZ law.
So why did you sanction the NZ Police to spend so much of the meagre Police budget ( that you are currently cutting ) on surveilance and arresting Mr Dotcom??

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When will a publisher turn the spotlight on Mr Key and ask some tough questions without allowing him to shrug away an answer with his eye rolling with boredom?
Perhaps now though, we know why Simon Power resigned?

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Overseas crimes, unless they are crimes on our turf too, are none of an external government's business. Especially since its less than clear than Megaupload was crooked.

Unless the Americans want to offer something decent in return, say, a free trade agreement, then they can shove extradition up the proverbial.

Look at how the yanks have been stringing along the ozzies for years... poor dull sods. The American's are masters at promising much and delivering little.

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you are right on the money, just look at what is pledged in aid every year to the UN and what actually gets cleared into aid bank accounts huge difference (although france is the worst)

Bring back Lange to tell the yanks to stick it

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Overseas crimes, unless they are crimes on our turf too, are none of an external government's business. Especially since its less than clear than Megaupload was crooked.

Unless the Americans want to offer something decent in return, say, a free trade agreement, then they can shove extradition up the proverbial.

Look at how the yanks have been stringing along the ozzies for years... poor dull sods. The American's are masters at promising much and delivering little.

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The whole dotcom affair seems to be an overeaction by the NZ police at the behest of the FBI. We will not come out of this looking good.
liberte

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John Key is a Hypocrte, tht's all I can say.

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John Key is a Hypocrite, that's all I can say.

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Google 1987/88 John key New Zealanf Dollar and make up your own mind on these things.Forex trading whose money?.

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The Dotcom debacle shows that NZ needs to become much more sophisticated in handling extradition demands. It must not be left to the police who are easily seduced by their overseas partners. There should be an independent body with judicial, technical, business, political and public interest expertise.

Also, the law should prevent the cynical circumvention of the severity threshold by dumping dependent money laundering charges on top of unqualifying copyright charges.

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