New Act expected to aid NZUS business links

WELLINGTON: United States President Donald Trump has signed legislation that will make it easier for New Zealanders to trade or invest in the world’s biggest economy.

The socalled Knowledgeable Innovators and Worthy Investors Act — or Kiwi Act — allows New Zealanders to apply for E1 and E2 trade and invest ment visas. The Act grants reciprocal rights to US nationals.

‘‘The Kiwi Act will increase trade and investment between the United States and New Zealand and will benefit both our countries,’’ Prime Minister Jacinda Ardern said in a statement.

She expected the legislation would be a ‘‘big boost’’ to New Zealand businesses.

The E1 and E2 visas will allow New Zealand nationals who qualify to enter the US several times over two years without having to apply for a new visa each time, and with an option to renew on a rolling basis. The visas cover individuals seeking to engage in substantial trade and investment activities in the US. Spouses and dependents of visa holders are also permitted to travel on derivative E visas.

Ms Ardern said the US was critically important to New Zealand’s interests and the Act would help develop closer economic ties.

Officials would now work with the US State Department to ensure the Act can be implemented as soon as possible.

US Ambassador to New Zealand Scott Brown welcomed the legislation.

‘‘This is a historic day for the United States and New Zealand partnership. Today’s announcement is a testament to the longstanding friendship and economic cooperation between the United States and New Zealand.’’

The legislation, which received bipartisan US support, demonstrated ‘‘the United States’ continuing recognition of the value of Kiwi investment and innovation’’, he said. — BusinessDesk