US Applicants For Foreign ‘Golden Visa’ Scheme Surge
Summary
New Zealand has seen an increase in applications from wealthy Americans for its "golden visa" programs, which allow individuals to live and work there if they invest in businesses. The country recently introduced a new visa program requiring a minimum investment of $1 million NZD, aiming to attract more foreign investment and offer a simpler path to permanent residency.Key Facts
- New Zealand's "golden visa" applications from Americans have risen by 72% since July.
- The new "Business Investor Work Visa" lets people live and work in New Zealand for up to four years by investing in businesses.
- Applicants must invest at least $1 million NZD or $2 million NZD for a quicker residency process.
- They need at least $500,000 NZD in funds and a company with $1 million NZD annual revenue or five full-time workers.
- Applicants cannot invest in gambling, tobacco, fast-food franchises, or companies younger than five years.
- After living in New Zealand for two years, residents can apply for permanent residency.
- A future visa option is planned for startup entrepreneurs with innovative ideas to further attract international investment.
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