Prime Minister Christopher Luxon announced that holders of New Zealand’s Active Investor Plus visa can now buy or build one luxury home valued at $5 million or more.
NEW ZEALAND: New Zealand is easing rules for its golden visa program, allowing high-net-worth migrants to purchase or build a single luxury home worth at least $5 million. Prime Minister Christopher Luxon said the move balances concerns over foreign property ownership with the goal of attracting investment to grow the economy.
The Active Investor Plus visa requires applicants to invest NZ$5 million over three years or NZ$10 million over five years. Since easing the rules in April, more than 300 applications have been submitted, representing a potential NZ$3 billion injection.
“Within maybe the first three sentences, the word Trump does come up as a reason why they do want to move,” said Stuart Nash, cofounder of relocation firm Nash Kelly Global. Many see New Zealand as a safe haven, while others are drawn to Queenstown’s ski slopes, wineries, and golf courses. Luxon hopes the policy will attract capital and talent without destabilizing the housing market.
“Globally, New Zealand has a deserved reputation as a great place to live, and we want to grow our economy,” he added.