US leads New Zealand 'golden visa' applications; former immigration minister says Trump pushes global ‘uncertainty'
Under new looser rules, the demand for New Zealand's 'golden visas' has risen significantly in the past six weeks, with majority of the applications coming from the US, Financial Times reported. In a bid to strengthen the country's flagging economy, Prime Minister Christopher Luxon's government relaxed the rules of its golden visa programme in February, which could lure foreign investment.
Since the revamped program was launched, it has received 65 new applications within six weeks, along with 39 carried-over applications, of which 42 have been approved, according to data from New Zealand's immigration department. This amounts to a minimum investment of NZ$620 million.
The majority of the new applications, 55 in total, originated from the United States, making it the top source country. Hong Kong and China followed with 15 and 12 applications respectively, according to the department.
The new scheme, implemented in April, eliminated English-language requirements and reduced the investment threshold for "growth" visas to NZ$5 million (US$3 million). Applicants now need to spend only 21 days in the country to qualify for residency, a significant reduction from the previous three-year requirement.
According to the immigration department, the average processing time has also been shortened to just 11 days. A higher-tier 'balanced' visa requires an investment of NZ$10 million but permits investments in bonds, equities, and property development, and also includes residency benefits for family members.
Stuart Nash, a former immigration minister and co-founder of the relocation consultancy Nash Kelly Global, said that the re-election of US President Donald Trump has been a key factor motivating many affluent Americans to pursue residency overseas. 'It's the main driver. Many of the people applying are of a different political persuasion to President Trump," he said.
Nash highlighted the 'level of uncertainty", adding that the uncertainty introduced into global affairs by Trump's administration had played a role, noting that New Zealand has benefited as countries like Portugal and Ireland have tightened restrictions on their golden visa programmes.
'Putin is on the doorstep and no one is 100 per cent sure what Trump will do on Nato. That kind of uncertainty means people are looking to New Zealand," he mentioned.
Nash noted that lifestyle factors such as New Zealand having the highest number of golf courses per capita outside of Scotland have enhanced its appeal to golden visa applicants, but emphasized that political stability remains the key attraction. He said, 'In the past, the vast majority of applicants were looking for tax havens. Now they're looking for safe havens.'
Additionally, the European Court of Justice ruled last month that Malta's visa scheme was in violation of EU law.
The 104 new visa applications stand in contrast to the 115 submitted between 2022 and 2025, of which only 46 were approved. In 2018, former Labour Prime Minister Jacinda Ardern implemented stricter rules on investment visas following revelations that billionaire tech entrepreneur and Trump ally Peter Thiel had been discreetly granted citizenship despite not meeting standard eligibility criteria.
The incident sparked a national debate over the sale of farmland and housing to wealthy foreigners looking to secure a remote 'bolt-hole' in New Zealand.
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