Want to move to Middle-earth? New Zealand just made it easier for rich Americans to stay
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New Zealand eased requirements for its Active Investor Plus Visa Program, making it simpler for wealthy individuals to gain residency.
The updated program removes the English-language requirement and reduces the minimum required stay.
While the visa contributes towards citizenship, it requires additional time spent in New Zealand.
While some countries may be scaling back their golden visa opportunities, New Zealand just made it easier for wealthy Americans to earn residency.
New Zealand relaxed several of the requirements for its Active Investor Plus Visa Program on April 1. The program launched in September 2022 as part of a broader scheme to attract "global citizens who can bring ideas and financial capital into the country," according to Dominic Jones, managing director of Origin Capital Partners and Greener Pastures New Zealand, a firm that helps people achieve these visas.
At first, the program brought in an average of $1 billion NZD a year, but then tightened its rules. Since then, only 43 applications have been approved.
The new modifications include removing the English-language requirement, requiring investments in full and shortening the time people need to spend in the country to as little as 21 days, according to the New Zealand government website. "These changes help attract high value investment, simplify settings, and incentivize people to invest in 'active' investment classes," it states.
"The theory behind that is by putting money into the local business, there's a direct benefit on jobs. And from that, either a benefit in terms of economic outpour or for New Zealand in particular – we're an export-led nation – so they're very much trying to encourage dollars in equaling tangible benefit out on the other side for New Zealand," Jones said.
On a recent visit to the island nation, Dr. Travis Taylor and his partner Chris fell in love with its mountainscapes and welcoming culture. They find New Zealand's South Island, known for its glaciers, to be their ideal destination to live part-time for about five months out of the year once they retire and are just starting their visa process.
"I love it, it was absolutely gorgeous," Taylor said. "It's just an amazing to drive around." He added that New Zealand's small population compared to its land mass, offers the quiet retreat they've been looking for.
Here's what to know about New Zealand's golden visa.
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What to know about golden visas: You could 'buy' European residency for about $500K
What are the requirements for New Zealand's golden visa?
Interested expats can pursue two newly introduced routes, but in both cases, investments need to be made within six months, according to the official website. The Growth Category, or a minimum 5 million NZD (about $2.87 million) investment over a three-year period in managed funds and direct business investments, plus a 21-day stay.
The Balanced Category, or a minimum investment of 10 million NZD (about $5.74 million) over five years in a diverse range of investments, like philanthropy and bonds, as well as spending 105 days in the country. Additional investments for the latter will also shorten the required time in New Zealand.
What are the benefits of a New Zealand residency?
Besides abundant coastal and mountain landscapes – the latter of which are so stunning that they're nicknamed the Southern Alps – New Zealand boasts a stable democracy and relaxed way of living, according to Jones. It's often ranked as one of the safest countries in the world, according to the World Population Review.
It's also one of the few English-speaking countries that offer a golden visa, added Jones. Australia and the United Kingdom don't, although the U.S. recently launched one.
How long does it take to get citizenship to New Zealand?
The visa is not the same as citizenship, but it counts towards the five years needed to earn citizenship. You'd also need to be present in the country for 240 days each year.
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