Latest news with #StuartNash
Otago Daily Times
20 hours ago
- Business
- Otago Daily Times
Government-backed Frankton film studio fizzles out
The plug has been pulled on a government-backed motion capture and production studio in Frankton's Remarkables Park. Target3D New Zealand was planning to open the studio as a key tenant of the Queenstown Research & Innovation Centre after getting approval for a $2 million loan from a government regional development fund. Announced by then-economic development minister Stuart Nash in 2022, the Queenstown Digital Studio was intended to support virtual production through motion capture technology, game-engine servers, lighting, production equipment and staging. However, Gisborne-based Target3D NZ director Shannon Dowsing said he had to pull the pin two months ago after concluding the business model for the studio — and the rationale for taking up the loan — no longer made sense. It had relied on commercial screen industry production, research and development funding and education partnerships to come together, but each has faced major challenges, Mr Dowsing said. Although Queenstown is still busy with internationally-funded productions, spending by NZ on Air and Te Māngai Pāho has "significantly reduced" in the past three years. "It's highly competitive and existing players are very likely to be getting that funding." The company also has a specific R&D programme in mind for the resort town, but the government's scrapping of Crown entity Callaghan Innovation has made funding support "questionable". Another important component of the studio had been education, but it has not made enough progress with education providers to get that under way. Screentime NZ's setting up of a full-time production facility, Remarkable Studios, in the former H&Js department store in Remarkables Park last year meant Target3D could not justify investing in the equipment for a second studio. Mr Dowsing said he was not a believer in the concept of "if you build it, they will come". "We've been trying to solve all these challenges but, ultimately, we didn't feel it was a great time to be borrowing a couple of million dollars to invest in Queenstown in such an unstable market." However, he thought it would only be a matter of time before Target3D had a presence in the resort. "We've decided to go into the region organically and make decisions based on what actually can be done. I think we can achieve the same results, but without starting with a risky investment."
Yahoo
04-06-2025
- Business
- Yahoo
Former New Zealand Minister on Golden Visa Surge
Stuart Nash, Former New Zealand Minister for Economic Development and Co-founder of Nash Kelly Global, discusses the outlook for US-New Zealand relations and the surge in golden visa applications. He speaks with Haslinda Amin on the "Insight with Haslinda Amin". Sign in to access your portfolio
Bloomberg
03-06-2025
- Business
- Bloomberg
Former New Zealand Minister on Golden Visa Surge
Stuart Nash, Former New Zealand Minister for Economic Development and Co-founder of Nash Kelly Global, discusses the outlook for US-New Zealand relations and the surge in golden visa applications. He speaks with Haslinda Amin on the "Insight with Haslinda Amin". (Source: Bloomberg)
Economic Times
23-05-2025
- Business
- Economic Times
New Zealand sees surge in golden visa applications following policy reforms, wealthy Americans lead the way
New Zealand has experienced a significant increase in applications for its "golden visa" program, officially known as the Active Investor Plus Visa, after implementing policy changes aimed at attracting foreign investment. In the six weeks since the revised rules took effect in April 2025, 65 new applications have been submitted, with the majority originating from the United States, as per a report by Financial Times. The updated visa program reduced the minimum investment requirement to NZ$5 million (approximately US$3 million) and eliminated the English language proficiency requirement. Additionally, the residency obligation was decreased from three years to just 21 days. The application processing time has also been shortened, averaging 11 days. According to the report by Financial Times, of the new applications, 55 are from US citizens, followed by 15 from Hong Kong and 12 from China. This influx represents a minimum capital inflow of NZ$620 million. Stuart Nash, a former immigration minister and co-founder of relocation consultancy Nash Kelly Global, attributed the surge to political factors in the United States. He stated to the Financial Times, "It's the main driver. Many of the people applying are of a different political persuasion to President Trump." (Join our ETNRI WhatsApp channel for all the latest updates) The policy changes are part of Prime Minister Christopher Luxon's strategy to stimulate New Zealand's economy by attracting foreign investment. The government is also considering further easing restrictions on foreign property purchases, although such measures face opposition within the coalition. Immigration Minister Erica Stanford commented on the increased interest, stating that the numbers indicate New Zealand is "open for business."The revamped visa program contrasts with the previous government's stricter approach, which had tightened investment visa rules in 2018 following controversies over the granting of citizenship to wealthy foreigners.
Time of India
22-05-2025
- Business
- Time of India
New Zealand sees surge in golden visa applications following policy reforms, wealthy Americans lead the way
New Zealand has experienced a significant increase in applications for its " golden visa " program, officially known as the Active Investor Plus Visa , after implementing policy changes aimed at attracting foreign investment. In the six weeks since the revised rules took effect in April 2025, 65 new applications have been submitted, with the majority originating from the United States, as per a report by Financial Times. The updated visa program reduced the minimum investment requirement to NZ$5 million (approximately US$3 million) and eliminated the English language proficiency requirement. Additionally, the residency obligation was decreased from three years to just 21 days. The application processing time has also been shortened, averaging 11 days. According to the report by Financial Times, of the new applications, 55 are from US citizens, followed by 15 from Hong Kong and 12 from China . This influx represents a minimum capital inflow of NZ$620 million. Stuart Nash, a former immigration minister and co-founder of relocation consultancy Nash Kelly Global, attributed the surge to political factors in the United States. He stated to the Financial Times, "It's the main driver. Many of the people applying are of a different political persuasion to President Trump." (Join our ETNRI WhatsApp channel for all the latest updates) The policy changes are part of Prime Minister Christopher Luxon's strategy to stimulate New Zealand's economy by attracting foreign investment. The government is also considering further easing restrictions on foreign property purchases, although such measures face opposition within the coalition. Live Events RECOMMENDED STORIES FOR YOU New Zealand Finance Minister Nicola Willis' budget 2025 full speech: Trump's tariffs, slow growth, economic challenges Indian couple in New Zealand admit $2 million fraud on Ministry for Children New Zealand braces for severe weather, heavy winds, and thunderstorms expected Immigration Minister Erica Stanford commented on the increased interest, stating that the numbers indicate New Zealand is "open for business." The revamped visa program contrasts with the previous government's stricter approach, which had tightened investment visa rules in 2018 following controversies over the granting of citizenship to wealthy foreigners.
