Immigration Minister Erica Stanford is set to give an update on the government’s so-called ‘golden visa’, which aims to attract investors with at least $5 million to spend.
Changes to the Active Investor Plus visa took effect in April last year, bringing in two categories – riskier ‘growth’ investments of $5m-plus over three years and lower-risk ‘balanced’ investments of $10m-plus over five years – and reducing other barriers, including time spent in New Zealand and an English language test.
Immigration Minister Erica Stanford.
Photo: RNZ / Samuel Rillstone
The minimum investment amount had previously been $15m.
Stanford said 573 applications had been received to date, totalling about $3.39 billion invested – with $1.05b of that already committed.
She said it compared to 116 applications and $70m of investment over the two-and-a-half years under the previous settings.
“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.”
She made the announcement at Hectre, an AI startup focused on orchard management and fruit quality.
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