The number of Brits moving to New Zealand may increase over the next few years, as the country seeks to attract construction workers to help with its largest ever infrastructure and housing programme. The Building and Construction Industry Training Organisation (BCITO) says that an additional 65,000 workers will be required over the next five years. They also report that, although demand for construction workers has previously focused on Auckland, there is now significant demand around the country. (You can read more in this article from The Telegraph.)
And this is not just the case for construction workers. According to figures provided to the NZHerald by Immigration NZ, only 40% of last year’s migrants who arrived under the business and skilled migration categories are confirmed as remaining in Auckland, compared to 51% in 2012/13. Canterbury, Wellington and the Waikato were the next three most popular locations. Massey University sociologist and immigration expert Prof Paul Spoonley shared some interesting thoughts about the whys & wherefores in this article, acknowledging the efforts of the previous Government and changes in regional economies.
Immigration checklist – don’t forget about your UK pension!
If you’re one of the thousands of Brits who’ll be relocating to New Zealand in 2018, wherever you settle – from Kaitaia to Invercargill, and anywhere in between! – remember to consider the options for your UK company or private pension.
You could choose to leave it where it is, move it to a SIPP or transfer it to a NZ QROPS, and it’s generally preferable to make a decision sooner rather than later due to the potential New Zealand tax implications. As you’re probably aware this is a complex financial area, not least because you’re dealing with both UK and NZ legislation. Please make sure you receive qualified, informed advice which is focused on your personal needs, priorities and circumstances.