Surge in US applications as New Zealand relaxes golden visa rules

New Zealand has seen a sharp rise in demand for its “golden visa” program following a significant loosening of rules in April, with the majority of new applicants hailing from the United States. The policy shift is part of Prime Minister Christopher Luxon’s broader push to attract foreign investment and revive a sluggish economy, the Financial Times reported.

Under the newly relaxed guidelines, the threshold for a “growth” visa was reduced to NZ$5 million (US$3 million), while language requirements were scrapped and the residency requirement cut from three years to just 21 days. The streamlined application process now averages just 11 days. A higher-tier “balanced” visa requiring NZ$10 million also allows investment in bonds, equities, and property development, and offers residency benefits to family members.

According to New Zealand’s immigration department, 65 new golden visa applications have been filed since the changes took effect—55 of them from the US—with Hong Kong and China following at 15 and 12 applications, respectively. Including 39 rollover applications, of which 42 have been approved, the program has attracted a minimum investment of NZ$620 million in just six weeks.

Trump’s return fuels ‘safe haven’ migration

Stuart Nash, a former immigration minister who now advises global investors, said the resurgence in US interest is largely political. “President Trump’s re-election is the main driver,” he said. “Many of the people applying are of a different political persuasion to President Trump.” Nash added that geopolitical uncertainty, including Trump’s unclear stance on NATO and ongoing global instability, has prompted high-net-worth individuals to seek stability abroad.

He also noted that New Zealand has benefited from tightening of investor visa programs in Europe, such as the recent EU court ruling against Malta’s scheme and new restrictions in Portugal and Ireland.

From tax havens to safe havens

Between 2022 and 2025, New Zealand received just 115 golden visa applications, with fewer than half approved. In contrast, the 104 new applications since April signal a marked turnaround. The demand represents a shift in motivation as well. “In the past, the vast majority of applicants were looking for tax havens,” said Nash. “Now they’re looking for safe havens.”

The new programme reverses the tighter rules imposed in 2018 by former Prime Minister Jacinda Ardern, who clamped down on foreign ownership and investment visas after revelations that billionaire Trump ally Peter Thiel had obtained New Zealand citizenship under questionable circumstances.

Open for business, with limits

While the Luxon government has embraced foreign investment, including repealing bans on oil and gas exploration and hosting high-profile investment summits, it has so far maintained a ban on foreign home purchases due to coalition disagreements. Currently, only New Zealand residents, Australians, and Singaporeans are permitted to buy property in the country, a rule introduced by Ardern in response to a national housing crisis.

Nevertheless, Immigration Minister Erica Stanford declared that the recent surge in golden visa applications signals that “New Zealand is open for business.”

Beyond investment incentives, lifestyle continues to be a key attraction. “We have the highest number of golf courses per capita outside Scotland,” said Nash. “But more than that, we offer political stability—and that’s the premium currency in today’s world.”