New Zealand’s Golden Visa Boom: Wealthy Investors from the US, China, and Hong Kong Dominate Applications

The New Zealand golden visa program, officially known as the Active Investor Plus visa, is seeing a surge in demand after recent changes to eligibility criteria. Wealthy investors from the United States, China, and Hong Kong are leading the rush to secure residency in New Zealand, driven by both economic and lifestyle motivations.

The government relaxed the program in April 2025 in an effort to stimulate the sluggish economy. The new rules reduced the minimum investment thresholds, scrapped English language requirements, and cut the residency obligation from three years to just three weeks. These adjustments have made the visa more attractive to global investors seeking residency pathways in politically stable countries.

Golden Visa Applications Nearly Triple Under New Rules

According to Immigration New Zealand, the revised regulations have sparked a surge of interest. Since April, 308 applications — representing around 1,000 individuals — have been submitted. In comparison, only 116 applications were lodged during the previous two-and-a-half years under the older framework.

Wealthy Americans are dominating the numbers, filing 129 applications. China follows with 45 applications, while Hong Kong investors account for 38 applications. Other countries making the top list include Germany, Singapore, Taiwan, Japan, Vietnam, South Korea, and Great Britain.

Why Wealthy Investors Are Choosing New Zealand

Immigration lawyer Marcus Beveridge, managing director of Queen City Law, believes lifestyle benefits and reduced bureaucracy are major “pull factors” for Asian markets. Lower taxes, political stability, and clean environmental conditions add to the country’s appeal. For investors from North America and Europe, geopolitical tensions are also influencing decisions.

“The total numbers are still modest,” Beveridge noted, “but Trump is probably beneficial for New Zealand in some ways, in terms of there being more interest.”

Indeed, Trump-weary Americans have long shown interest in New Zealand as a safe “bolthole” during times of political and social unrest. For instance:

• In 2016, visits to New Zealand’s immigration website spiked by 2,500% after Trump’s election.
• In 2022, traffic quadrupled to 77,000 after the U.S. Supreme Court overturned Roe v. Wade.
• Following Trump’s 2024 victory, interest in New Zealand’s property market also surged.

Golden Visa Controversy and Real Estate Rules

New Zealand has faced previous controversies over billionaire residency and citizenship. In 2017, PayPal co-founder Peter Thiel gained citizenship after just 12 days in the country, prompting former Labour Prime Minister Jacinda Ardern to tighten visa rules. A year later, her government banned foreign home ownership, citing concerns about surging housing prices during the crisis.

Last month, however, the government introduced a fresh update: while the foreign buyers’ ban largely remains, golden visa holders can now purchase homes worth more than $5 million. Beveridge commented, “It’s definitely a much better position to say to potential investors: you can now buy a family home.”

Categories and Investment Levels

Under the new system, applicants can choose between two investment categories:

• Growth category: Minimum investment of NZ$5 million over three years (241 applications received).
• Balanced category: Minimum investment of NZ$10 million over five years (67 applications received).

So far, 39 applications have been approved, with another 197 receiving “approval in principle.” Immigration New Zealand estimates that NZ$248.8 million has already been invested under the revised program. Beveridge projects that “roughly $5 billion annually” could flow into New Zealand through business immigration, with an additional $5 billion contributed via real estate purchases by wealthy newcomers.

Policy Reversals and Economic Goals

The visa changes are part of broader efforts by the current right-wing coalition to reverse several Ardern-era policies and boost economic growth. In addition to easing investment visas, the government has:

• Loosened visa requirements to attract digital nomads.
• Simplified residency pathways for migrant workers.

At the same time, New Zealand faces a record level of emigration. According to Stats NZ, 73,400 New Zealanders left the country between July 2024 and July 2025, while only 25,800 returned home. Many are seeking higher salaries and better job opportunities abroad.

Conclusion: New Zealand’s Golden Visa Future

The Active Investor Plus visa has transformed New Zealand into a top destination for wealthy investors, especially from the United States, China, and Hong Kong. With relaxed rules, new real estate opportunities, and streamlined residency conditions, the program is positioned as a key driver of foreign investment. However, with rising emigration and continued debates about housing affordability, the long-term impact of New Zealand’s golden visa remains a critical policy issue.