Hamilton (New Zealand), May 9 (IANS) New changes to business investment migration policies will come into effect from mid-2011 and it will promote the business investor immigration option to migrants seeking to relocate to New Zealand, said Immigration Minister Jonathan Coleman.

Coleman said in Auckland that business investment migration policies have attracted some $562 million in potential investment since being launched in late 2009.

The minister said the changes focus on expanding the range of acceptable investments to include residential investment, bank bonds and equities.

The new changes to the New Zealand business migration policies will allow the investment funds to be transferred into New Zealand by acceptable foreign exchange companies.

Another significant change has been made to the business experience requirement which will be amended to enable applicants to qualify with management or ownership experience in a business with five employees or which has a turnover of $1 million.

Richard Howard, past chairman, New Zealand Association for Migration & Investment, said: "...the immigration adviser industry looks forward to more policy changes which can facilitate further economic stimulus in due course."