New Zealand Government Simplifies “Golden Visa” Program and Removes Investment Barriers
New Zealand, also known as Aotearoa, announced on Sunday, February 9th, that they are streamlining the “Golden Visa” program and eliminating certain investment barriers, including the abolition of English language requirements. This move aims to attract wealthy immigrants to help stimulate New Zealand’s economic growth. The new regulations will come into effect on April 1st.
New Zealand’s Immigration Minister, Erica Stanford, stated on Sunday, “Capital is highly mobile, and in an increasingly complex world, people are looking for a safe and stable country to do business in.”
“We are now making investor visas simpler and more flexible to incentivize investors to choose New Zealand as their destination, not only for their capital, skills, and international connections but also to build a life here for themselves and their families.”
Stanford also mentioned that starting from April 1st, the “Active Investor Plus visa” complex weighted system will be simplified into two straightforward investment categories. These categories are the “Growth Category” and the “Balanced Category.”
The “Growth Category” will focus on high-risk investments, including direct investments in New Zealand businesses. The minimum investment amount required for this category has been reduced from 15 million New Zealand dollars to 5 million New Zealand dollars, with a minimum investment term of three years.
The “Balanced Category” will center on mixed investments, allowing for lower-risk options with a minimum investment amount of 10 million New Zealand dollars and an investment term of five years. These investments may include bonds, stocks, new real estate development projects (including residential properties), or existing commercial and industrial real estate ventures.
New Zealand will also broaden the accepted investment scope and eliminate certain investment barriers, such as English language requirements.
Stanford mentioned that besides scrapping language tests, other potential investment obstacles will also be adjusted, such as the required stay time in the country.
“Incentivizing, simplifying, and expanding investment opportunities will make New Zealand more attractive to foreign high-value investors and make investment access easier,” Stanford said. “These changes will drive our economic growth and bring a brighter future for all New Zealanders.”
These changes will take effect from April 1st.
Stanford stated that by providing an option for low-risk investors, the program will attract a broader audience, not just focusing on those with a preference for high-risk investments. She added that during consultations with the industry, there has been significant interest from potential applicants in the program.
According to Bloomberg, Marcus Beveridge, the Managing Partner and Business Immigration Expert at “Queen City Law” in Auckland, welcomed these changes and predicted that they will inject a boost into New Zealand’s sluggish residential real estate market.
“In the past few decades, whenever we have taken similar actions, the real estate market has heated up,” he said. “This doesn’t mean a large influx of people crossing borders, but cash investments driving our local market takeoff.”
The New Zealand government recently relaxed a visa requirement allowing holidaymakers to work remotely while visiting the country. This initiative aims to promote the tourism industry in the country and encourage high-skilled individuals to eventually settle in New Zealand for the long term.