 "New Zealand golden visa: Foreigners can now buy homes worth Rs 25 crore")
Want to buy a house in New Zealand? You can now do so under its golden visa scheme. The government has decided to loosen its long-standing ban on foreign buyers, opening the door for wealthy investors to purchase luxury homes as part of efforts to lift a struggling economy.
The New Zealand government on Monday said holders of so-called golden visas will be able to buy houses worth at least NZ$5 million (Rs 25 crore). The change, which creates an exemption to restrictions in place since 2018, will not come into force until the end of the year, once reforms to the Overseas Investment Act are passed into law, Prime Minister Christopher Luxon said at a press conference.
“Globally, New Zealand has a deserved reputation as a great place to live and we want to grow our economy,” said Luxon. “By opening our door just a little to allow significant investors to own a home, we will help attract more of those who want to contribute to the community and country.”
New Zealand Golden visa explained
The Active Investor Plus visa, relaunched five months ago, offers residency in exchange for investment.
< As of August 31, Immigration New Zealand had received 308 applications covering about 1,000 people
< The potential minimum investment from these applicants is NZ$1.9 billion
< Around 40 per cent of applicants are from the United States
Until now, participants in the scheme have been largely blocked from buying property.
Only New Zealand citizens, residents, and nationals from Australia and Singapore have been allowed to purchase homes since 2018. Then-Prime Minister Jacinda Ardern had introduced the ban after concerns that offshore buyers were fuelling a housing crisis.
“We are determined to make it easier for Kiwis to buy their first home so we are stopping foreign speculators buying houses and driving up prices. Kiwis should not be outbid like this,” Ardern said in 2017.
Adding to public pressure was a scandal involving PayPal co-founder Peter Thiel, who was granted citizenship despite limited ties to the country.
How many homes are eligible
However, not many homes are available or investors.
Property consultancy Cotality estimates there are about 7,000 homes valued above NZ$5 million, just 0.4 per cent of the nation’s housing stock.
< 4,500 are in Auckland
< About 1,250 are in Queenstown
< Only around 350 such homes are listed for sale each year
This means the pool of houses available to foreign investors will remain small.
Investor categories under the new rules
Since April 1, 2025, the Ministry of Business, Innovation and Employment has created two simplified investor pathways:
Growth category: invest at least NZ$5 million over three years in local businesses or managed funds, with a 21-day stay requirement
Balanced category: invest NZ$10 million over five years in bonds, stocks, new residential projects, or commercial property, with a 105-day stay requirement (can be reduced if more than the minimum is invested)
“Capital is highly mobile and in an increasingly complex world, people are looking for a safe and stable country to do business,” said Immigration Minister Erica Stanford. “We are now making our investor visa simpler and more flexible to incentivise investors to choose New Zealand as a destination.”
Other changes introduced since April
< English-language requirement has been scrapped
< Timeframe to transfer and invest funds cut to six months
< One-off six-month extension possible if deadline cannot be met
< Fewer residency requirements for investors making active investments
< Visa cost starts from NZ$27,470 (about Rs 13 lakh)
< Processing time: 80 per cent of applications receive approval in principle within seven months
Applicants can include partners and children under 25, and after four years of maintaining investments, they can apply for permanent residency.
Why the revamp was needed
The earlier version of the visa saw applications fall sharply after rule changes in late 2022. Just 43 were approved in that period, bringing in NZ$545 million in proposed funds. Actual investment was far lower. Before the changes, the visa had been generating about NZ$1 billion a year.
The Ministry of Business, Innovation and Employment has said the country is facing a capital shortfall after slipping into recession in 2024. It has since been overhauling investment rules, setting up a central agency to liaise with global fund managers, and offering pathways for remote workers.
What to remember when applying
If your application is approved in principle, you will have six months to transfer and invest the required funds. During this period, you can apply for a work visa to enter New Zealand and make the necessary arrangements. Your partner will need to apply separately for a visitor visa, while dependent children under 25 can apply for student visas. The golden visa itself allows you to live, work and study in New Zealand indefinitely.