New Zealand’s Golden Visa Returns: A Timely Window for Foreign Buyers

(New Zealand) New Zealand has restored and widened its so‑called Golden Visa, formally the Active Investor Plus Visa, and paired it with a fresh push to relax overseas investment rules for high‑value property. The combined shift, confirmed for 2025, opens the door for wealthy global buyers to secure residency by investment while giving the government tighter, faster oversight of foreign capital.

Since April 1, 2025, applications have jumped. By August 8, 2025, authorities received 267 Golden Visa filings—more than double the previous 115 lodged across the prior 18 months—with about 44% from the 🇺🇸 United States. Officials and market advisers say the surge reflects interest from ultra‑high‑net‑worth families seeking a stable base, low physical stay requirements, and a safe, rules‑based economy.

The two investment routes

Under the upgraded program, investors can choose between two routes:

• Option A: NZ$5 million over 3 years
  • Physical presence: 21 days over 3 years (with scope for reductions in some cases)
• Option B: NZ$10 million over 5 years
  • Physical presence: 105 days over 5 years

Both options allow a wide mix of qualifying assets, including:
– Direct stakes in New Zealand businesses
– Managed funds
– Bonds and listed equities
– Philanthropy (within caps and to eligible New Zealand causes)
– Property development focused on new residential or commercial builds

There is no language requirement.

Family coverage and residency pathway

The visa covers a broad family unit: a spouse or partner and dependent children up to 24. Investors who keep their funds in qualifying assets through the required period can later apply for permanent residency. A pathway to citizenship may follow after 5 years, subject to normal rules.

Typical application flow:
1. Basic eligibility check and due diligence (identity, source of funds, health and character checks)
2. Decision: approval in principle—usually in about 4 months
3. Transfer funds to New Zealand within 6 months of approval in principle
4. Meet the limited physical presence rule during the investment period
5. Apply for permanent residency after meeting all visa conditions

These light physical presence rules can be planned around school years and business calendars: a major draw for global families who split time across countries.

Overseas Investment Act refresh and property rules

The change most watched by foreign home buyers is tied to a legislative refresh of the Overseas Investment Act. The government introduced the Overseas Investment (National Interest Test and Other Matters) Amendment Bill on June 18, 2025, and expects it to pass by the end of the year.

Key features of the bill:
– Brings the national interest and investor tests together
– Creates a faster consent track
– Allows overseas investors who hold an Active Investor Plus Visa to buy or build residential property worth NZ$5 million or more

Ministers argue the NZ$5 million price floor covers less than 1% of all homes and targets a niche corner of the market, leaving mainstream affordability and first‑home buyer access intact.

Consent details:
– Overseas Investment Office (OIO) consent is still required for these high‑value purchases
– Decisions under the national interest pathway are due within 15 working days unless a full, deeper assessment is needed
– The OIO will assess clear economic, social, or environmental benefits as part of the review

Analysis by VisaVerge.com suggests pairing the revived Golden Visa with a clearer path to OIO consent reduces uncertainty that previously slowed interest from global buyers.

Important: OIO consent and the national interest test remain central safeguards. Even high‑value purchases must demonstrate tangible benefits to New Zealand.

Political debate and guardrails

• Prime Minister Christopher Luxon supports easing rules for targeted, high‑value foreign investors, framing the package as a way to bring capital, grow jobs, and lift the economy.
• Coalition partner New Zealand First has flagged concerns about loosening foreign buyer rules too far.

The government stresses that the NZ$5 million threshold, OIO consent, and a national interest test will preserve balance and keep pressure off the broader housing market.

Market response and typical applicant profile

Since April, advisors report a surge in applications from:
– American tech founders, family offices, and retired executives
– Investors from Asia and Europe seeking a stable, common‑law system, strong schools, and a direct path to permanent residency with limited days on the ground

Practical patterns:
– Families split between the 🇺🇸 and Europe find 21‑day or 105‑day requirements easy to meet
– Short, seasonal stays aligned with school breaks, or brief stays during business trips, are common
– Activity likely to concentrate in Auckland and Queenstown, with some demand in Wellington and coastal hotspots

New Business Investor Visa (November 2025)

A second pillar is the New Business Investor Visa, available from November 2025, aimed at channeling capital into existing New Zealand companies.

Routes:
– NZ$1 million into an existing business → path to residency in 3 years
– NZ$2 million into an existing business → fast‑track to permanent residency in 1 year

Immigration Minister Erica Stanford described this route as “smart, flexible and nuanced,” replacing the older Entrepreneur Work Visa and aiming to deliver more immediate business outcomes: scale, exports, and hiring.

Practical considerations and key requirements

Important points applicants must plan for:
– Investments must remain in qualifying assets for the full 3 or 5 year period
– Health and character checks are mandatory
– The expanded property rule is tightly focused on homes NZ$5 million+ and still requires OIO consent
– Complex or sensitive files can trigger a full OIO assessment that takes longer than 15 working days

For Option A vs Option B, trade‑offs include:
– Option A (NZ$5M/3 years): lower total outlay over time, less physical presence (21 days), higher annual funds deployed
– Option B (NZ$10M/5 years): larger total outlay, more days in NZ (105 days), more time to place capital

Qualifying asset guardrails:
– Direct investments should back New Zealand firms with growth plans, not passive parking
– Managed funds, bonds, and listed equities must meet local market/regulatory standards
– Philanthropy counts within caps and to eligible causes
– Property development must be new builds, not speculative purchases of existing homes

Five‑step timing checklist (application process)

1. Eligibility assessment: identity, source‑of‑funds, health and character checks
2. Submit application pack → approval in principle in ~4 months if complete
3. Transfer investment to New Zealand within 6 months of approval in principle
4. Meet physical presence during the investment period (21 days/3 years or 105 days/5 years)
5. File for permanent residency after conditions are met

Practical planning checklist for families

• Confirm eligibility early; prepare clear source‑of‑funds documentation and health/character checks
• Choose between Option A and Option B and plan travel to meet 21 or 105 day minimums
• Line up New Zealand banks and advisors to transfer funds within the 6‑month window after approval in principle
• If buying/building a NZ$5 million+ home, prepare an OIO consent plan showing jobs, sustainability, or community outcomes to stay on the 15 working day track
• Keep the investment portfolio strictly within approved categories throughout the investment period

Example scenarios

Scenario A (Option A — NZ$5M/3 years):
– NZ$5M split across a managed fund, a direct stake in a growth company, listed equities, and bonds
– Two trips yearly to meet 21 days
– Home build expected at NZ$5M+ with OIO consent emphasizing jobs and energy‑efficient design
– Approval in principle by Month Four; funds transferred by Month Ten; conditions met by Year Three

Scenario B (Option B — NZ$10M/5 years):
– Larger allocation with a bond ladder to manage rate risk, stake in listed exporter, and investment in a new apartment project (qualifies as property development)
– Longer summer stays to reach 105 days across five years
– Focus on spread‑of‑risk and matching longer business plans

Market and industry effects

• Luxury builders, architects, and private banks may see increased demand
• Schools and universities could see modest growth in international enrollments from anchored families
• Because the NZ$5M threshold covers less than 1% of homes, median prices are unlikely to be materially affected; effects should be concentrated in the top end

Where to find official guidance

Immigration New Zealand publishes visa policy, process steps, and updates for the Active Investor Plus Visa. The Overseas Investment Office explains consent processes, timelines, and national interest tests tied to the property rule.

For authoritative guidance and updates, see:
– Immigration New Zealand

Final takeaways

• The policy mix lowers friction to residency while keeping strong guardrails: due diligence, OIO consent, and a NZ$5 million price floor.
• The Active Investor Plus Visa emphasizes real‑world investment—companies, funds, bonds, and new builds—paired with low day‑count rules attractive to busy global families.
• The Overseas Investment Act refresh sets a high bar for property and speeds decisions on the national interest path.
• With applications rising since April 1, 2025, and Americans comprising about 44% of new files, the program is moving from concept to practice. Prospective applicants should watch the bill’s progress through the end of 2025, prepare thorough source‑of‑funds documentation, and build OIO files that clearly demonstrate benefits to New Zealand.