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- New Zealand is relaxing its “golden visa” rules in an effort to lure investors, its government said on Sunday.
- The visa is set to become “simpler and more flexible,” Immigration Minister Erica Stanford said.
- New Zealand’s economy has struggled in recent years, with a recession and rising unemployment in 2024.
New Zealand’s government announced Sunday that it would be making changes to its so-called “golden visa” in an attempt to lure more wealthy migrants to its shores.
Erica Stanford, the country’s Immigration Minister, said the Active Investor Plus (AIP) visa would become “simpler and more flexible” to encourage investors to choose New Zealand for their “capital, skills, and international connections” and as a place to “build a life.”
Following the changes, which are set to take effect from April 1, two new investment categories — “Growth” and “Balanced” — will replace the “current complex weighting system for the AIP.”
The “Growth” category will apply to those making “higher-risk investments” such as direct investments in local businesses. It will require a minimum investment of NZ$5 million (around $2.8 million) for a minimum of three years.
The “Balanced” category will focus on mixed investments and will require a minimum investment of NZ$10 million (roughly $5.7 million) over five years.
The new rules will also see the removal of the English language requirement.
“Incentivising, simplifying and broadening the investment offerings will make New Zealand more attractive and accessible to more foreign high-value investors,” Stanford said. “These changes will turbocharge our economic growth, bringing brighter days ahead for all Kiwis.”
Economic Growth Minister Nicola Willis added: “We should be rolling out the welcome mat and encouraging investor migrants to choose New Zealand as a destination for their capital.”
New Zealand’s economy has struggled in recent years, slipping into a technical recession in the third quarter of 2024 and seeing rising unemployment.
HSBC’s chief economist for New Zealand and Australia, Paul Bloxham, said in January that the bank’s estimates suggested New Zealand’s economy had the largest contraction in GDP among developed nations in 2024, per RNZ.
It’s not the first time New Zealand has tweaked its visa policies to try to aid its embattled economy.
In late January, the country announced a new “digital nomad” initiative allowing tourists to work remotely for a foreign employer while vacationing.
“Making the country more attractive to ‘digital nomads’ — people who work remotely while travelling — will boost New Zealand’s attractiveness as a destination,” Willis said in a statement at the time.
