New Zealand.

Resident visa for investors, run by Immigration New Zealand, with Invest New Zealand (formerly NZTE) deciding which funds and direct investments are acceptable. Opened 19 Sept 2022 with a NZ$15 million threshold or weighted equivalent (direct investment weighted 3x, so NZ$5 million minimum; listed equities capped at 50%, bonds and property excluded), 117 days in NZ over four years and an English requirement. Few applications under those settings (115 to 31 Mar 2025). Revamped from 1 April 2025: Growth category NZ$5 million for 3 years (managed funds, direct investment; 21 days in NZ) and Balanced category NZ$10 million for 5 years (adds bonds, listed equities, property development; 105 days); English requirement removed. Applications then rose sharply (949 by 24 Sep 2026; 496 approved, about NZ$2.88bn committed), led by US, Chinese and Hong Kong applicants. Build to Rent funds to be added to Growth from December 2026. Holders can apply for permanent residence after the investment period; citizenship through the ordinary residence route.

Resident visa (permanent residence from the start, with conditions) for investing NZ$10 million in acceptable New Zealand investments for three years; no age, English or business-experience test. Investor had to spend a minimum time in New Zealand (73 days a year at first; from 2017, 44 days in each of the final two years, or 88 days over three years with NZ$2.5m in 'growth investments'). Created with Investor 2 by immigration instructions effective 27 July 2009; closed to new applications on 27 July 2022 (instructions shown 'to 28/07/2022') when Active Investor Plus replaced it; applications already lodged kept being processed (125 in progress in Dec 2023). Citizenship can follow through the ordinary residence route. Cabinet paper (2022): NZ$6.78bn initial investment and 679 investors over 13 years.

Points-based resident visa (expression of interest, then invitation to apply) for investors with business experience and English, investing NZ$1.5 million for four years (plus NZ$1 million settlement funds) from 27 July 2009, and NZ$3 million from 22 May 2017, when the settlement-funds rule was dropped and the annual cap rose from 300 to 400 approvals. Investor had to spend 146 days a year in New Zealand in the final three years (or 438 days over four years with 25% in growth investments, from 2017). Closed permanently to new applications on 27 July 2022; pipeline still processed (277 in progress in Dec 2023). Cabinet paper (2022): NZ$5.184bn initial investment and 2,385 investors since 2009.