New Zealand will allow certain wealthy overseas investors with an investor residence visa to purchase or build a home worth at least NZ$5 million (US$2.94 million), Prime Minister Christopher Luxon announced Monday.
The move follows April’s relaxation of foreign investor visa rules, which cut the minimum required funds for higher-risk investments from NZ$15 million to NZ$5 million and removed English-language requirements. Despite these changes, visa holders who spent less than six months a year in New Zealand were still barred from buying property.
Luxon said the adjustment will permit these investors to own one qualifying property, framing it as a compromise between limiting foreign ownership and encouraging high-net-worth individuals to tie themselves more closely to the economy.
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