New Zealand Locks Out Foreign Home Buyers Even as Golden Visa Rules Eased
- Golden visa simplified from April 1, English test removed
- Immigration minister expects ‘huge interest’ from applicants
The government is betting that wealthy migrants can help generate the capital needed to spark economic growth and fund infrastructure.
Photographer: Fiona Goodall/BloombergThis article is for subscribers only.
New Zealand’s ban on foreign home buyers will remain a sticking point for some overseas investors as they look to take advantage of a more permissive golden visa program.
The South Pacific nation plans to simplify its investor visa and remove the English language test from April 1, but it still has one of the world’s most prohibitive policies on foreigners buying residential real estate. Other than citizens and tax residents, only Australian and Singapore citizens can purchase houses, due to pre-existing trade agreements.