"Prime Minister Christopher Luxon announced Monday that holders of the country's golden visa - officially called the Active Investor Plus visa - will now be allowed to buy or build one luxury home, provided it's worth at least $5 million. The change is designed to attract more overseas investment while maintaining the broader ban on foreign buyers introduced in 2018 amid fears of skyrocketing property prices."
""This change navigates a path between those who do not want foreign ownership opened up, and the desire to attract high net worth investors by deepening their connection to our country to help grow the economy," Luxon said. The golden visa program requires applicants to invest at least NZ$5 million (about $2.9 million) into New Zealand's economy over three years, or NZ$10 million (about $5.8 million) over five years."
New Zealand will allow Active Investor Plus visa holders to buy or build one luxury home worth at least NZ$5 million while maintaining the broader foreign buyer ban introduced in 2018. The golden visa requires at least NZ$5 million invested over three years or NZ$10 million over five years. Since rule changes in April, more than 300 applications have been filed, representing a potential NZ$3 billion injection into the economy. Nearly half of recent applicants are from the United States. Motivations cited include political stability, geographic isolation, and lifestyle amenities such as golf courses.
Read at Business Insider
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