New Zealand simplifies the conditions for participation in the Golden Visa program from April 1, 2025. Investors applying for a residence permit will not need to take an English exam.
However, the country's authorities have not yet allowed foreigners to buy housing. In addition to their own citizens and tax residents, only citizens of Australia and Singapore can purchase houses in New Zealand, according to current legislation.
Immigration experts believe that easing the visa program is not enough without lifting restrictions on the purchase of real estate.
"We allow Singaporeans to buy residential property here, we allow Australians to buy residential property here, and we invite the whole world to come and invest 10 million New Zealand dollars (6 million US dollars) here"That's right," said Marcus Beveridge, business migration specialist and managing director of Queen City Law in Auckland."We strongly recommend that the government resolve this issue, that is, lift the ban.
The ban on foreigners buying homes is important not only because many would like to be able to own property in our country, but even the very words about the ban repel people and make them feel unwanted, says Willy Sussman, a partner at Bell Gully law firm in Auckland, which specializes in on immigration. "It's one thing to say, 'Don't worry about the English proficiency test,' and quite another to say, 'You can keep your money here, but you can't buy a house.' A ban on the sale of real estate to foreigners was introduced in New Zealand in 2018 after a scandal involving the sale of passports. The measure was aimed at preventing rich people from abroad from buying up land.According to Finance Minister Nicola Willis, discussions are underway on the conditions under which the country could agree to lift the ban.
Source: Bloomberg
