New Zealand recently announced more lenient rules on investment residency. In the first six weeks of the reformed program, the country accepted 65 new applications, 42 of which were approved. For comparison, 115 applications were submitted in total over the previous three years, 46 of them were approved.
What are the main changes in the program?
- The minimum investment threshold for a Growth visa has been lowered to 5 million New Zealand dollars (approximately 3 million US dollars).
- English proficiency requirements have been lifted.
- The period of residence in the country for obtaining a resident visa has been reduced to 21 days (previously it was 3 years).
The largest number of applications for the updated golden visa for New Zealand came from Americans (55). This is followed by Hong Kong (15) and China (12).
A source: Financial Times
