Nearly 200 people apply for 'golden visas' in 3 months
File photo: Nicola Willis and Erica Stanford.
Photo:
RNZ / Reece Baker
Nearly 200 applications have been received for the so-called 'golden visa' since changes were made to liberalise access.
The government
made changes in April to make it easier for wealthy foreigners
to gain New Zealand residency through investment.
Since then, Immigration New Zealand has received 189 applications for the visa.
Economic growth minister Nicola Willis said that was significantly more than the 116 appliciations received over more than two and a half years under the previous settings.
"Investor migrants are clearly attracted to New Zealand's growing reputation as a safe, pro-business, high-potential economy. In a world where countries compete for dollars and talent, it's great to see New Zealand's growth prospects being recognised," she said.
The changes introduced a two-pronged approach to the visa, and liberalised what could be invested in.
The Growth category requires a minimum investment of $5m over three years, into higher-risk investments including managed funds and direct investments in New Zealand businesses.
The Balanced category requires a minimum investment of $10m over five years, with investors being allowed to choose lower-risk investments.
Under the previous settings, $15m was required for a visa, with bonds and property investments not allowed.
As at June 23rd, 100 applications have been approved in principal. Of those, seven have transferred and invested their funds in New Zealand and had been granted a visa.
Five of those were invested in the Growth category, and two in the Balanced. The government said that was a total minimum investment of $45m.
Sign up for Ngā Pitopito Kōrero
,
a daily newsletter curated by our editors and delivered straight to your inbox every weekday.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
RNZ News
29 minutes ago
- RNZ News
Ponsonby Road's flavour shifting to hospitality
'Queuing for brunch and browsing the shops is a rose tinted memory.' That from a Ponsonby business who say landlords are willing to let some of Ponsonby road's more well known shops empty out in order to keep the rents high. Those who still have shops there say the famous road's flavour is shifting. From being a creative hub balancing fashion and eateries to now leaning heavily in favour of hospitality. Louise Ternouth went for a browse. Tags: To embed this content on your own webpage, cut and paste the following: See terms of use.
Otago Daily Times
an hour ago
- Otago Daily Times
Nearly 200 apply for 'golden visa' in three months
Nearly 200 applications have been received for the so-called 'golden visa' since changes were made to liberalise access. The government made changes in April to make it easier for wealthy foreigners to gain New Zealand residency through investment. Since then, Immigration New Zealand has received 189 applications for the visa. Economic growth minister Nicola Willis said that was significantly more than the 116 appliciations received over more than two and a half years under the previous settings. "Investor migrants are clearly attracted to New Zealand's growing reputation as a safe, pro-business, high-potential economy. In a world where countries compete for dollars and talent, it's great to see New Zealand's growth prospects being recognised," she said. The changes introduced a two-pronged approach to the visa, and liberalised what could be invested in. The Growth category requires a minimum investment of $5m over three years, into higher-risk investments including managed funds and direct investments in New Zealand businesses. The Balanced category requires a minimum investment of $10m over five years, with investors being allowed to choose lower-risk investments. Under the previous settings, $15m was required for a visa, with bonds and property investments not allowed. As at June 23rd, 100 applications have been approved in principal. Of those, seven have transferred and invested their funds in New Zealand and had been granted a visa. Five of those were invested in the Growth category, and two in the Balanced. The government said that was a total minimum investment of $45m. The new applications represented a potential $845m of new investment. Immigration minister Erica Stanford said she would have been happy with 200 applications in the first year. "As of this week we're almost at 190 after 10 weeks, and I think that shows you the level of interest from overseas, in lots of different markets we haven't seen before," she said. The strongest interest in the visa had come from the United States, China, Hong Kong, and Germany. Investors have six months to transfer their funds and start investing in New Zealand. Willis said the visa complemented the Investment Boost policy announced at the Budget, which allows businesses to deduct 20 percent of the cost of a new asset, on top of depreciation. "The Active Investor Plus delivers the capital. Investment Boost delivers the confidence to put that capital to work, and to ensure that people are making investments that will pay off in the long run."
RNZ News
an hour ago
- RNZ News
Barber training centre in Auckland CBD offering free trims
Whether you're after a fade, slick back, perm or a buzz cut look no further - a barber training centre in the Auckland CBD is offering free trims. If you don't mind yours being the first hair the apprentice barber has ever cut, that is. Mr Barber, an NZQA approved and registered training centre, is the only Barber-specific training centre in Aotearoa. Barbers-in-training are chucked straight into the deep end, practising on real people from day one. Bella Craig reports. To embed this content on your own webpage, cut and paste the following: See terms of use.
