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'Golden Visa' Applications: Seven Investors With $35m To Spend Approved So Far
The government's new "golden visa" for investors has received 44 applications since it came into effect on 1 April - with about half of the applications coming from existing applicants transitioning to the new category.
The new visa category has removed the previous English language requirements and now has two simplified categories.
The minimum investment under the Active Investor Plus Visa Programme is $5 million over three years under its growth category, or $10m over five years under its balanced category.
Immigration New Zealand (INZ) said 36 of the applications received to date were in the growth category, and eight were in the balanced category.
Twenty-three of the applications came from existing applicants who were transitioning to the new settings.
INZ director of visas Jock Gilray said it was estimated that the applications would amount to a minimum total investment of $260m.
He said so far, seven applications have been approved in principle, with a total minimum investment of $35m.
Gilray said more than 2500 people visited the Active Investor Plus Visa application page between 26 March and 9 April - a 700 percent increase compared to the same period last year.
Malcolm Immigration chief executive David Cooper told Nine to Noon the timing of the revamped opportunity was ideal, and they had seen huge amounts of interest during recent overseas trips.
Events in Germany, Hong Kong and Singapore had been well attended, he said, while New Zealand Trade and Enterprise organised events in New York and San Francisco had also attracted interest.
Immigration Minister Erica Stanford said in February the change meant investors would only have to remain in New Zealand for 21 days over three years to gain residency.
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