New Zealand is modernising its visa settings to incentivise wealthy migrants to invest in the country.
From 1April, New Zealand's government will be updating the weighting system of the Active Plus visa category, which economic growth minister Nicola Willis said was complicated by the previous government.
“Since 2022, migrants entering New Zealand under the AIP category have invested just $70 million,” she said.
“By contrast, in the two years prior to COVID-19, migrants invested $2.2 billion.”
The weighting system for the AIP will be replaced with two simplified investment categories:
- The Growth Category with a focus on higher-risk investments, including direct investments into New Zealand businesses. This category will require a minimum investment of NZ$5 million (A$4.5 million)
- The Balanced Category focused on mixed investments with the ability to choose ones that are lower risk. It will require a NZ$10 million investment over five years.
Other changes include expanding the acceptable scope of acceptable investments and removing other barriers to investment such as 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.”
These changes, alongside New Zealand’s programs for digital nomads and Invest New Zealand, will make it easier to promote investment in the country.
“We are now making our investor visa simpler and more flexible to incentivise investors to choose New Zealand as a destination not just for their capital, skills and international connections, but to build a life for themselves and their family here,” immigration minister, Erica Stanford said.
These changes come as other countries are ending their golden visas for investors. This includes Spain, who are ending theirs on 3 April, and the U.K., Ireland, the Netherlands, Greece and Malta who have either tightened or ended their equivalent policies.
The Australian Government also scrapped their Significant Investor visa class, which was available to those who invested more than A$3.3 million, over concerns that wealthy individuals had abused it.
