Fresh Zealand has attracted $3.39 billion in foreign investment through its revamped ‘golden visa’ program, Immigration Minister Erica Stanford announced today. The Active Investor Plus visa, which underwent changes in April of last year, has seen a significant increase in applications compared to previous iterations.
The program now features two investment categories: a ‘growth’ option requiring a minimum investment of $5 million over three years, and a ‘balanced’ option demanding $10 million over five years. These changes, alongside the removal of requirements for applicants to spend significant time in New Zealand and pass English language tests, have spurred the surge in interest, according to Stanford.
“I am delighted that our new visa settings are helping to open up possibility and opportunity for investment,” Stanford said. “These investors bring not just capital, but global experience, expertise, and networks. I have had the pleasure of meeting some of these investors over the last year and I have seen firsthand their love for, and commitment to, New Zealand.”
To date, 573 applications have been received, representing a substantial increase from the 116 applications and $70 million in investment secured over the preceding two-and-a-half years under the previous visa conditions. Of the $3.39 billion pledged, $1.05 billion has already been committed.
The announcement was made at Hectre, an artificial intelligence startup specializing in orchard management and fruit quality. Hectre, founded in 2017, recently secured investment from three investors through the program and now exports to 22 countries, illustrating the program’s potential to stimulate growth in New Zealand businesses.
Stanford similarly highlighted minor adjustments made to the visa, including approvals for three new infrastructure investment funds through Invest NZ. She emphasized New Zealand’s appeal as a stable investment destination, particularly given global uncertainties and factors such as tariffs imposed by the United States.
Addressing concerns about the impact of the visa on the housing market, Stanford stated that the scheme has not led to “massive peaks” in property purchases. The government has no current plans to lower the investment thresholds.
The update on the ‘golden visa’ comes as New Zealand experiences a stabilization in net migration figures, which have fallen to their lowest level since 2013. Stanford indicated that migration patterns are closely tied to economic performance and anticipates a rebound as the economy improves. “We’re just starting to see a slight uptick, so I’m confident that as the economy improves those net migration figures will get back to that 20-year average,” she said.
