New Zealand’s “golden visa” programme has attracted 189 applications in less than three months since new rules were introduced to encourage foreign investment, Immigration Minister Erica Stanford said on Monday.
The revised Active Investor Plus visa, aimed at high net-worth individuals, has brought in formal interest that could result in NZ$845 million ($503 million) in new business investment.
The applications under the new scheme already exceed the 116 received over more than two-and-a-half years under the previous policy settings. U.S. citizens accounted for 85 applications, followed by 26 from China and 24 from Hong Kong.
The government relaxed visa rules in April by lowering the minimum investment requirement for high-risk assets to NZ$5 million from NZ$15 million and removing the English language requirement. These changes aim to boost economic growth by attracting capital into local businesses.
Stanford said the strong early response reflects confidence in the revised programme and the broader economic environment.
New Zealand’s economy recently posted faster-than-expected growth in the first quarter, offering some relief after entering a technical recession last year.
The recession marked the country’s worst two-quarter decline since 1991, excluding the pandemic period. The government is seeking to build on recent gains through targeted investment and immigration reforms.
