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New Zealand's new golden visa draws rush from US, China after rule change
New Zealand has seen a sharp rise in demand for its investor visas in the six weeks since it relaxed the rules, with most new applications coming from the United States.
The updated visa scheme, which came into effect in April 2025, allows wealthy individuals to invest as little as NZ$5 million (approximately $3 million) to secure residency. They only need to spend 21 days in New Zealand across the visa term, down from a previous requirement of three years. Immigration New Zealand said the average processing time has dropped to just 11 days.
"New Zealand's immigration department confirmed that 65 new applications have been received since April, in addition to 39 carried over from the earlier scheme. Of these, 42 have been approved, representing a minimum capital inflow of NZ$620 million," Financial Times reported.
Where are applicants coming from?
The United States accounted for 55 of the new applications—by far the largest number—followed by Hong Kong (15) and China (12), according to official figures.
Commenting on the development, Stuart Nash, a former Labour immigration minister who now runs Nash Kelly Global, shared on LinkedIn that politics in the US had played a role in driving demand.
'It's the main driver,' he said. 'Many of the people applying are of a different political persuasion to President Trump.'
Nash said the uncertainty around Donald Trump's foreign policy and security commitments was pushing wealthy Americans to look elsewhere. 'Putin is on the doorstep and no one is 100 per cent sure what Trump will do on Nato,' he added. 'That kind of uncertainty means people are looking to New Zealand.'
He also pointed out that New Zealand was attracting more interest partly because other countries, such as Portugal and Ireland, have tightened or shut down their own golden visa schemes. In April, the European Court of Justice ruled that Malta's citizenship-by-investment programme was in breach of EU law.
What's changed in the visa rules?
Immigration Minister Erica Stanford said the second investment category, called 'balanced', was created to draw applicants interested in lower-risk options such as bonds and real estate.
'Capital is highly mobile and in an increasingly complex world, people are looking for a safe and stable country to do business,' she said. 'We are now making our investor visa simpler and more flexible to incentivise investors to choose New Zealand as a destination.'
Stanford also told parliament last week that the uptick in applications showed New Zealand was 'open for business'.
Two visa options now available
New Zealand's Active Investor Plus visa now includes two routes:
Growth: Requires NZ$5 million over three years in businesses or managed funds. Applicants must spend 21 days in the country over the visa period.
Balanced: Requires NZ$10 million over five years in bonds, equities, residential developments or commercial property. The minimum stay is 105 days, which may be reduced for higher investments.
Investors can include a partner and children under 25 in their application. Permanent residency is possible after maintaining investments for four years.
Other updates since April 1, 2025
English-language requirement has been removed
Investment transfer deadline reduced to six months from approval
One-time extension of six months available if needed
Lower stay requirement for higher or more active investments
Visa cost starts at NZ$27,470 (around ₹13 lakh)
80% of applications are processed within seven months
Reactions divided
Stuart Nash, who originally set up the earlier version of the visa during his time in government, said Labour's approach had 'missed a couple of the nuances'.
'Right now, a significant number of very wealthy people are looking for a home for their money and their families in a way that is quite unique,' he said.
But Labour's immigration spokesperson Phil Twyford criticised the changes, calling them 'peak short-sightedness'.
'Allowing people to buy residence by parking their money in a passive investment like property that won't generate jobs or sustainable economic development for New Zealand doesn't sit well,' said Twyford.
He also criticised the removal of English-language requirements. 'Taking it off for the rich but not everyday migrants is not the Kiwi way,' he said. 'The focus on wealthy visitors to New Zealand in the very same week the government has figures showing Kiwi unemployment is at record highs is absolutely tone deaf.'
Global trend moving the other way
The surge in interest for New Zealand's investor visa comes as several countries roll back similar schemes.
Spain officially ends its golden visa programme today. Ireland, the Netherlands, Greece and Malta have either shut their schemes or raised the bar for eligibility. In Australia, the Significant Investor visa—which required an A$5 million investment—has been effectively discontinued, with officials saying it failed to benefit the wider economy.
David Cooper, chief executive of immigration advisory firm Malcolm Pacific, said New Zealand's revamped policy could change the game.
'Investor migrants bring far more than the required capital – they inject roughly two to three times more in additional spending across businesses, property, and high-value services,' said Cooper. 'These policy changes recognise the immense value these individuals bring, and puts New Zealand back on the global investment map.'
He added that with Australia, the UK and Canada tightening rules, New Zealand now had a rare opportunity. 'This is New Zealand's chance to position itself as a premium destination for investor migrants.'
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