Housing minister says legislation that paved the way for Peter Thiel to become a New Zealander will come under scrutinyNew Zealand’s new Labour government will reconsider legislation that allows wealthy foreigners to effectively buy citizenship, the housing minister has said. Billionaires' bolthole: how New Zealand became an escapee's paradise Read moreHowever, the ban will not apply to foreigners who gain citizenship in New Zealand – a loophole that billionaire Thiel used, after spending a total of 12 days in the country. “That was a discretionary decision that was made at the time [Thiel’s citizenship], and we were very critical. Our policy, banning people would apply to everybody, regardless of how much money they have or what country they come from,” Twyford said. “Housing has come to be seen as an investment asset primarily, rather than a place for people to live and bring up a family.

Source: The Guardian October 27, 2017 06:00 UTC