US, mainland China, Hong Kong lead rush for New Zealand's ‘golden' visas
New Zealand said on Monday there had been a rush in applications for its new foreign investor migrant visa as the centre-right government looks to lure more high-net-worth individuals to the country to stimulate economic growth.
The government in April relaxed rules for the visa, including lowering the minimum required funds for the category that focuses on higher-risk investments to NZ$5 million (US$3 million) from NZ$15 million and
removing the English language requirement
People watch a lion dance during an event celebrating Dragon Boat Festival in Auckland, New Zealand, last month. Photo: Xinhua
'[There has been] a flood of formal interest in the new 'golden' visa,' Immigration Minister Erica Stanford said.
'New applications under the scheme represent a potential NZ$845 million (US$503 million) of new investment in New Zealand business.'
In a statement, Stanford said the government had received 189 applications in less than three months for the Active Investor Plus visa, compared with 116 submissions over more than two-and-a-half years under the previous settings.
People take pictures of Aurora Australis, or the 'Southern Lights', at Lake Ellesmere on the outskirts of Christchurch, New Zealand, on June 1. Photo: AFP
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