Will today's launch of the new "Golden Visa" be New Zealand's Golden Goose?

From today, 1 April, New Zealand has two new, simplified "Active Investor Plus" categories with investments starting at NZ$5 million.

This is all part of the government's push to "say a lot more yes and a lot less no" and to roll out the welcome mat to more investors.

Migrants under the old policy had only invested $70 million since 2022. Versus the $2.2 billion invested in the two years pre-pandemic.

Stuart Nash, former Minister responsible for the flopped category has since acknowledged his government's mistakes saying "This is a good move. When I launched the Active Investor Plus visa in Sept 2022, the intent around active investment was sound, but we didn’t get it quite right. The changes announced today remedy this. I’m very supportive."

The new Golden Visa isn't a complete cave. It takes us back to somewhere between the last two policies and looks like this:

So what's changing?

1. Investment Thresholds just got lower:

Previously you could invest between 5 and 15 million under a complex weighting system, but to be able to invest in Managed funds required 7.5 million versus the new 5 million threshold. Overall, this has made accessing lower-risk investments for less.

2. The Scope of "Acceptable Investments" just got wider:

For the Growth Category - you can now invest in NZ Trade & Enterprise ("NZTE")-approved Managed Funds as well as Direct Investments into NZ businesses. Noting here that more businesses will also now be able to apply to be approved for direct investment. Previously, a business had to prove it was "high growth" or had the potential to be "globally successful". This led to very few businesses being approved. Now, any genuine NZ business seeking growth capital can apply, including businesses which rely on property to deliver their business model.

NZTE says it will be picking up the pace on approving more deals faster. To see what NZTE is approving, you need to sign up on the Live Deals web page. As of the time of writing, there are 36 Managed Funds and 47 Direct Investments (download the PDF below):

Live Deals - 20 March 2025.pdf

Download PDF • 1.73MB

All eyes will be on NZTE to see if they really can deliver a more exciting smorgasbord of investments at pace. The government has its sights on promoting investment in aquaculature, advanced transportation, clean technology, mineral and resources, renewal energy.

For the Balanced Category, you can also choose Bonds and Property Investments, Listed Equities or Philanthropy. Government, local government, and corporate bonds traded on the NZDX are acceptable. For property, this includes residential developments that increase housing stock and new or existing commercial or industrial developments that add value such as earthquake strengthening. Previously, direct property investments were entirely excluded.

3. Reduced Physical Presence Requirements.

• Previous Scheme required investors to spend 117 days in New Zealand over a four year period.​

• New Scheme:

• Growth Category: Requires just 21 days in New Zealand over the 3-year investment term (a reward for taking on higher-risk investments).​

• Balanced Category: Requires 105 days over the investment term, with potential reductions based on higher investment amounts:​

  • 91 days if investing at least NZ $11 million.

  • 77 days if investing at least NZ $12 million.

  • 63 days if investing at least NZ $13 million.

    
    

4. Removal of English Language Requirements

• Previous Scheme - English language requirement

• New Scheme: No English language requirement

5. Changed Investment Timeframes

• Previous Scheme: Allowed up to 18 months from grant of residence to transfer and invest funds.​

• New Scheme: Requires all investments to be completed within six months of approval in principle, with a possible one-time six-month extension upon evidence of efforts to transfer and invest funds. ​

  
  

6. Flexibility and Simplification

• Previous Scheme: Had more rigid structures and requirements.​

• New Scheme: Simplifies the process by removing caps on investments, allowing category changes (once per applicant), and introducing "on-call investments" for funds committed to managed funds. Additionally, newborn children of investors now qualify for a Dependent Child Resident Visa and can be added to their parent's application for a Permanent Resident Visa. ​

These "Golden Visa" changes aim to make New Zealand a more attractive destination for high-value investors by offering greater flexibility, a broader range of investment options, and more accommodating residency requirements.​

Buying a House in New Zealand to live in

Since 2017, there have been restrictions on foreigners buying houses making New Zealand one of the most restricted places in the world to buy property. To be able to buy a home requires you to meet an "ordinarily resident" test i.e.:

• hold a current residence class visa, and

• have been living in New Zealand for at least the immediately preceding 12 months (not just visiting), and

• have been present in New Zealand for 183 days or more of those 12 months, and

• be a New Zealand tax resident

This means even if you are an investor you may have to rent for a period. However, once you have a residence visa, you can apply for consent to build or buy a house to live in before you fully meet the "ordinarily resident" test.

Note: Singaporean citizens (like Australians) can buy a house or land that has a property category of ‘residential’ or ‘lifestyle’ without consent even if not ordinarily resident.

The Government has also confirmed it intends to reform the Overseas Investment Act to allow more overseas investors to purchase assets in New Zealand. The Government has not released details of its intended changes but has confirmed that the legislation required to amend the OIA will be passed by the end of 2025. They campaigned on making it possible to buy houses worth NZ$2.5m or more but were blocked by NZ First. It will be interesting to see where that debate lands.

Gaining NZ Permanent Residence

Once your investment period (3 or 5 years) is complete, you are free to take your money out and apply for Permanent Residence. Permanent Residence means you can come to New Zealand at any time for as little or as long as you like and enjoy the rights of being a New Zealander (aside from having a New Zealand passport which does require a commitment to live here). The government espouses the theory that being free not to invest generally does more good than harm, in that most investors go on to re-invest and at levels often higher than were required in the first place. Some would dispute that. Better reporting in the future would help track what happens - something the government would need to decide to invest in!

To wrap (for now):

This new policy therefore means that with 5 million NZD, if willing to place that in NZTE-approved Managed Funds or Direct Investments for 3 years, you will have a pathway to permanent residence by spending as little as 3 weeks in NZ over that period. The cost for this visa is NZD 27,470.

If you are interested in New Zealand's Golden Visa, get in touch by email at info@intonz.co.nz or by calling Katy Armstrong, our Principal on +64 210587056 (available on Whatsapp).