"If Trouble Hits, They're Leaving"... U.S. Ultra-Wealthy Flock to 'Golden Visas' in New Zealand

Over 700 Applicants in Just One Year
Political Instability and Wealth Tax Proposals Stir U.S. Investors
New Zealand Permanent Residency for Investments of Approx. KRW 4.1 Billion Over Three Years

As New Zealand eases regulations on investment and real estate acquisitions, applications for the so-called 'golden visa' are surging, particularly among wealthy individuals in California, United States.

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According to a report by the Financial Times (FT) on August 6 (local time), New Zealand's restructured investor immigration program has attracted more than 700 applications from high-net-worth individuals over the past 14 months. This figure is more than six times higher than the 115 applications received over the previous three years.

New Zealand's 'golden visa' program grants residency to those who invest a specified minimum amount. Applicants must invest at least 5 million New Zealand dollars (approximately KRW 4,147,010,000) in local funds, companies, or charities within three years. In return, they are granted the right to reside, work, and study in New Zealand. A separate program for passive investments, such as bonds, requires an investment of 10 million New Zealand dollars (about KRW 8,291,990,000) over five years.

Since the New Zealand government eased investment immigration regulations in April last year, applicants from North America, Europe, and Asia have pledged to invest a total of 4.8 billion New Zealand dollars (around KRW 398,010,000,000) into New Zealand. Among all applicants, Americans made up the largest portion with 277 individuals, with an overwhelming level of interest coming from wealthy Californians.

The driving forces behind this rush among affluent Americans to secure overseas residency include political instability within the United States and pushback against high taxation policies. For example, Peter Thiel, a prominent Silicon Valley billionaire, is seeking New Zealand citizenship in opposition to California's proposed wealth tax, highlighting a visible trend of wealthy individuals moving assets out of the United States.

New Zealand's main advantages include the comparatively fast acquisition of permanent residency and relaxed residency requirements relative to other countries. In Portugal, historically popular among wealthy Americans, it takes a minimum of five years to obtain permanent residency and over ten years to secure citizenship, along with mandatory language exams and residency obligations. In contrast, New Zealand offers the possibility to acquire permanent residency in as little as three years with an investment of over 5 million New Zealand dollars, serving as a practical 'emergency insurance policy' for high-net-worth individuals.

The New Zealand government states that its expanded investor immigration program is not just about attracting foreign capital, but also about bringing in the experience and expertise of entrepreneurs. New Zealand Prime Minister Christopher Luxon commented, "The investor immigration program is helping bring capital and management experience into our domestic startups."

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