Wellington – New Zealand is seeing “red-hot” interest in its revamped golden visa programme from the US and Europe as rising geopolitical tensions prompt wealthy people to consider options abroad, Immigration Minister Erica Stanford said.
Applications for the Active Investor Plus visa open on April 1 in Wellington, following an overhaul designed to make the programme more appealing to affluent migrants.
Changes include scrapping the English-language requirement, reducing the time investors must spend in the country, lowering minimum investment thresholds and simplifying investment categories.
“I’m expecting that in the first month we’ll get a lot of applications,” Ms Stanford told Bloomberg News in a telephone interview.
“We’re seeing a huge amount of interest out of the US. And we’re also seeing a lot of interest out of Germany and the rest of Europe.”
New Zealand, which suffered a sharp recession in 2024, is looking for foreign capital to spark economic growth and fund new infrastructure.
Its remote location in the South Pacific makes it a desirable destination for the rich seeking a haven from turmoil in a picturesque and politically stable country.
“More than anything, it’s actually the geopolitical situation that has driven people to think we need somewhere else to live,” Ms Stanford said.
Other comparable countries, such as Australia and Britain, do not have investor visas, “so we are extraordinarily competitive”, she added.
While formal application data will not be available for some months, Ms Stanford said immigration agents, lawyers and international advisers report soaring inquiries.
‘Game changer’
Mr Marcus Beveridge, managing director at Queen City Law in Auckland, said he is seeing “massive interest”, mostly from China but also from Japan, Indonesia and the US.
“A major difference has been (the) waiving of the English-language” requirement, he said. “That’s a game changer.”
The Active Investor Plus visa had previously brought in about NZ$1 billion (S$761.6 million) annually, but that slumped after the former government tightened rules in 2022. Just NZ$70 million was invested under the stricter version, according to Ms Stanford’s office.
Under the new rules, investors can choose between two paths.
The “Growth” category requires a NZ$5 million investment in higher-risk assets such as businesses or managed funds, with migrants needing to spend just 21 days in the country over the three-year investment term.
The “Balanced” category requires NZ$10 million to be invested for five years in a mix of bonds, equities or some property investments, with a 105-day stay that can be reduced by investing more.
One lingering concern for potential applicants is New Zealand’s restrictions on foreigners buying homes. Since 2018, only citizens, tax residents and nationals from Australia and Singapore – due to trade agreements – can freely buy property.
Ms Stanford acknowledged it is a key issue for would-be investors, and said talks about changing it are happening “at a leader-to-leader level” in the coalition government.
“It is a consideration that is important – when people come here, they do want to be able to buy a home,” she added.
The ban was imposed by then Prime Minister Jacinda Ardern in 2018 amid concern about unaffordable housing and following a passport-for-sale scandal involving PayPal co-founder Peter Thiel.
Ms Stanford’s National Party campaigned on loosening the ban ahead of the 2023 election, proposing to allow foreigners to purchase homes worth NZ$2 million or more. But coalition partner New Zealand First blocked the policy during government formation talks.
Since then, New Zealand First leader Winston Peters has said he is open to allowing foreigners to buy expensive houses if they also invest in the country. BLOOMBERG
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