America's elite lead boom of ‘golden' visa applications to vacation destination

Fox News

2 days ago

A new trend has emerged among America's elite as New Zealand's Active Investor Plus visa — also dubbed the "golden" visa — sees a recent boom.
"[There has been] a flood of formal interest in the new 'golden' visa," said New Zealand Immigration Minister Erica Stanford, according to Reuters.
In April, the government relaxed its visa rules to attract more high-net-worth individuals, with such changes as removing an English language requirement.
The country also reduced the amount of time required to spend in New Zealand.
Once the golden visa is obtained, it can be held for life. People do not need to reapply.
In under three months, 189 golden visa applications were received, while previous applications were at 116 submissions over the span of more than two-and-a-half years, Reuters reported.
Nearly half the applications were submitted by U.S. citizens, with Chinese citizens having the second-highest number of applications, the same source noted.
Former New Zealand Minister for Economic Development Stuart Nash, co-founder of Nash Kelly Global, told Fox News Digital the visas are getting more popular.
"There's a lot of global uncertainty at the moment," he said.
"You've got a war going on in Europe, you've got the tinderbox, which is the Middle East. You've got a change in the U.S. administration, which is causing more polarization than we've seen in a long, long time," said Nash.
"There are many Americans wanting to settle in New Zealand, as we're seen as this oasis at the bottom of the world," he added.
"You can live the New Zealand dream."
Nash pointed to New Zealand's "stable banking system" and lack of capital gains, wealth and death taxes.
"In this time of global uncertainty, geography is just as important as anything else. You jump on a plane and you're 1,200 miles away from trouble spots," said Nash.
He added, "In the past, people were looking for tax havens. Now they're looking for safe havens for them and their family."
Nash said the country's low population is a unique perk.
"We have wonderful scenery, sailing, golf — and we have some pretty cool people," Nash said.
He added, "You don't have to renounce your U.S. citizenship at all. You can get permanent residency for life and you can live the New Zealand dream."
Reuters contributed reporting to this article.