[North Waikato, New Zealand] – Ora Pharm, a leading
medical cannabis company, has become one of the first
approved direct investments under the New Investor Visa
category in New Zealand. The Active Investor Plus Visa
category is designed to attract high net worth individuals
who are willing to invest a significant amount of money in
New Zealand’s economy, with the goal of creating jobs and
fostering economic growth.
Under the Active Investor
Plus Visa category, individuals can apply for residency in
New Zealand by investing a minimum of a weighted NZD $15
million in the country over a four-year period. The
weighting of the investment is different depending on
whether the investment is a direct investment, managed fund,
listed equity or philanthropy. A direct investment carries a
weighting of 3x the funds invested, meaning that an investor
would only need to invest NZD $5m to qualify for the active
investor plus visa. Managed funds carry a 2x weighting on
funds invested whereas listed equities and philanthropy have
no weighting applied to them.
To date, there have been
15 companies approved as acceptable investments under the
new visa scheme. Ora Pharm are the only medicinal cannabis
company to be an approved investment, they have gone through
a detailed due diligence as part of this process and the
investment is also listed on the NZTE ‘live deals’ platform.
This builds on the achievements of the company when they
received a Callaghan Innovation research and development
project grant in June 2022.
Ora Pharm’s development in
the North Waikato, will support the development of a new
cultivation facility, as well as research and development
initiatives. The investment is expected to create more than
20 new jobs in the region, contributing to the growth of the
local economy.
“We are delighted to have been approved
as one of the first direct investments under the new Active
Investor Plus Visa category,” said Zoe Reece, CEO of Ora
Pharm. “New Zealand has a strong reputation for innovation
and quality in the horticultural and pharmaceutical
industry, and we are excited to be contributing to the
growth of this sector in the region. The growth of Ora Pharm
not only supports our business goals but also aligns with
our values of creating positive impact and supporting local
communities.”
The Active Investor Plus Visa category
was introduced by the New Zealand government in July 2022
and came into effect in September 2022, to attract high net
worth individuals to invest in the country and create jobs.
The program offers a pathway to residency and citizenship
for eligible investors, while also supporting the growth of
the local economy.
About Ora Pharm
Ora Pharm is
a leading medicinal cannabis company that specializes in the
research development of innovative pharmaceutical solutions.
The company’s mission is to create positive impact by
developing plant-based medicine that improve human health
and wellbeing. Ora Pharm has a license to cultivate,
manufacture and supply medicinal cannabis in New Zealand and
will obtain Good Manufacturing Practice (GMP) certification,
the globally recognised quality control system used in
pharmaceutical product
manufacturing.