As New Zealand lowers its “golden visa” threshold for providing permanent residency to wealthy foreigners, applications from Americans and others seeking New Zealand to escape confusion in the second U.S. administration of Donald Trump are surging.
According to Reuters and the Guardian’s Australian edition on the 24th, New Zealand’s Ministry of Immigration said 189 applications have been received so far since April easing the “active investor plus visa” requirement, which is called a golden visa.
In the two and a half years before the relaxation of the requirements, the total number of applications for the visa was well over 116 in just over two months.
New Zealand’s center-right coalition government has lowered the amount of investment needed for the visa application to 5 million New Zealand dollars, a third of the previous level, to boost the sluggish economy.
In addition, the requirement for English proficiency was abolished and the mandatory period of stay in New Zealand for applicants was shortened from three years to three weeks.
New Zealand Immigration Minister Erica Stanford said “official interest in new golden visas is soaring,” adding that the system is likely to generate $845 million in new investment.
The authorities have approved 100 of the number of applications so far in principle.
In particular, U.S. citizens accounted for 85 cases, or about 45% of the total number of applications, followed by Chinese citizens with 26 (14%) and Hong Kong citizens with 24 (13%).
“Almost all applicants are applying (for visas) because of the changes they see under the Trump administration,” said Stuart Nash, a former minister of economic development and the current immigration and migration consulting firm under the former Labor Party government.
Nash explained that global instability has made New Zealand an attractive destination, especially for Americans, with a stable democracy, an independent judiciary, and a secure banking system.
According to the Guardian, New Zealand has previously emerged as a country where Americans who are tired of U.S. President Trump are interested in a “hidden place.”
Since President Trump was first elected in 2016, the number of visits to New Zealand’s immigration website has soared by about 2,500%, and the number of visits to the site has quadrupled since the U.S. Supreme Court abolished the abortion right ruling in 2022.
The Guardian also reported that U.S. investors’ interest in New Zealand’s real estate market has increased significantly since President Trump’s victory in the presidential election last year.
SAM KIM
US ASIA JOURNAL
