New Zealand Relaxes Golden Visa Requirements

A term that has recently become prominent in the Spanish real estate market is the "golden visa," which is a permit granting Spanish residency to those who invest at least €500,000 in a property in Spain. However, this visa will be discontinued starting April 1, 2025.

These "golden visas" are now available in more countries to attract increased investment, which is why New Zealand has decided to ease the requirements for obtaining residency there.

• The English language requirement has been removed: previously, English proficiency was necessary to obtain a visa. This requirement has now been abolished.

• The minimum investment amount has increased: the previous minimum investment was 3 million New Zealand dollars (1.5 million euros at the current exchange rate). This has been raised to 5 million New Zealand dollars (2.6 million euros) directly or 15 million New Zealand dollars (almost 8 million euros) through passive investments.

• Reduced residency period: investors must now spend at least 21 days in New Zealand over three years following investment, compared to the previous requirement of 117 days over four years.

• 10 million over five years and a 105-day residency: this new long-term measure involves investing 10 million New Zealand dollars (5.2 million euros) over five years and residing for at least 105 days during that period. 

Golden Visa Information in New Zealand

In 2022, former New Zealand Prime Minister Jacinda Ardern made the requirements stricter, increasing both the residency days and the investment amount. Before these changes, New Zealand collected an average of NZ$1 billion (€500 million) annually.

Since these changes, only 43 "golden visas" have been issued, amounting to 70 million New Zealand dollars (37 million euros) in nearly three years, according to the Financial Times.

In light of this data, the British newspaper quotes current Prime Minister Christopher Luxon as saying: "We need to say a lot more yes and a lot less no, and roll out the welcome mat," he emphasizes.

Peter Thiel's 'golden' scandal

One reason Ardern's Labour Party implemented these restrictive measures was due to the nearly 100 residencies granted without meeting the requirements. Notably, this included the case of Peter Thiel, co-founder of PayPal and a prominent supporter of Donald Trump during his first term.

Thiel obtained the "golden visa" despite not meeting the minimum investment requirement, having invested only 1 million New Zealand dollars (530,000 euros) and not fulfilling the residency requirements.