On Wednesday August 1, 2018, President Trump signed into law S. 2245, the Knowledgeable Innovators and Worthy Investors Act (KIWI Act), thereby granting E-1 and E-2 visa status to certain New Zealand applicants and provides for reciprocal treatment of U.S. nationals. This will allow New Zealand nationals the opportunity to pursue E-1 trade and E-2 investment in the United States, a benefit long enjoyed by neighboring Australians. The E-1 and E-2 visa will offer New Zealanders enhanced access to facilitate overseas business and investment in the United States which is believed will strongly benefit the economies of both countries.
Please note that the KIWI Act has not been implemented at the moment as of November 19, 2018. The Consulate in New Zealand states that they are currently working on implementing the act with the U.S. government and more information about the application process will be announced when it is fully implemented.
There are already many New Zealand companies in the U.S., just as there are many of U.S. companies in New Zealand. In 2016, the two countries engaged in approximately $12 billion of bilateral trade in goods and services; and the U.S. is already the second most popular destination for New Zealand foreign investment, accounting for 17% of all foreign investment by New Zealanders in 2016, for a total of $3.2 billion dollars. Bringing New Zealand into the E-1 and E-2 programs will increase trade and bilateral investment flows, helping both of countries accelerate economic growth and job creation. To learn more about the E-2 Treaty Trader Visa, please click here. To learn more about the E-2 Treaty Investor Visa, please click here.
To find out more about the new rules or other investor visas, contact Scott Legal, P.C.
Ian E. Scott, Esq. is the Founder of Scott Legal, P.C. He can be reached at 212-223-2964 or by email at email@example.com.
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