New Zealand’s government is preparing significant changes to its golden visa program to attract wealthy immigrants and boost foreign investments. The Active Investor Plus Visa, once a robust pathway for affluent individuals, has seen a sharp decline in applications following stricter rule changes in 2022.
Active Investor Plus Visa
The Active Investor Plus Visa allows wealthy individuals to live, work, and study in New Zealand indefinitely. To qualify, you must invest at least NZD 15 million in acceptable New Zealand investments. After 4 years of maintaining these investments, you can apply for permanent residency.
- Length of Stay: Indefinite
- Cost: Starting from NZD 27,470
- Processing Time: Approval in principle for 80% of applications within 4 months
This visa can include your spouse and dependent children under 24. You have 6 months after approval in principle to transfer and invest your funds in New Zealand.
Declining Numbers Prompt Action
The Active Investor Plus Visa program, which previously attracted NZ$1 billion annually, approved only 35 applications in the last two years. This drop brought in a mere NZ$352 million in nominated investments, highlighting the urgent need for reform, according to Immigration New Zealand data.
Finance Minister Nicola Willis acknowledged the downturn, emphasizing that rule changes made under the previous administration led to reduced interest. Speaking in Wellington, she stated, “You can expect to see announcements from us on that in the coming weeks.”
Proposed Investor Visa Reforms
New Zealand’s government is set to reform its investor visa program to attract more global investors and drive economic growth. The changes aim to simplify the application process and make the country more appealing to high-net-worth individuals while maintaining strict investment standards.
Key Proposed Changes:
1. Revised Investment Thresholds
New Zealand’s investor visa now requires a minimum of NZ$5 million for direct investments or NZ$15 million for passive investments. This replaces the previous NZ$3 million threshold, aligning with global standards.
2. Updated Investment Options
The revised criteria exclude bonds and property as eligible investments. Instead, the focus shifts to impactful investments that directly benefit New Zealand’s economy and drive sustainable growth.
3. Streamlined Application Process
The government plans to speed up overseas investment applications. Legislative changes in 2024 will prioritize foreign capital, making the process more efficient for prospective investor migrants.
4. Focus on Broader Contributions
Investor migrants are encouraged to bring more than just capital. Their expertise, networks, and innovative ideas are seen as valuable contributions to New Zealand’s economic and social development.
English-Language Test and Housing Restrictions
A potential change under discussion is the removal of the English-language test for investor visa applicants. Immigration Minister Erica Stanford is expected to announce more details on this soon.
A key issue for investors is the 2018 ban on purchasing residential property in New Zealand. While exceptions exist for Australian and Singaporean citizens, ongoing discussions aim to balance property restrictions with reforms to attract more investment.
What’s Next for Investor Migrants?
New Zealand’s investor visa reforms aim to reverse the downward trend and attract high-net-worth individuals willing to contribute to the economy. Upcoming announcements are expected to clarify changes to visa criteria, including potential shifts in property investment rules and language requirements.
Stay tuned for updates as the government unveils its plans to make New Zealand an attractive destination for global investors.
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