New Zealand is simplifying its so-called "golden visa” program, including removing an English language requirement, to attract wealthy immigrants and help spark an economic recovery.

From April 1, the Active Investor Plus visa will be narrowed to just two categories, while the scope of acceptable investments will be expanded, Immigration Minister Erica Stanford said Sunday in Auckland. As well as dropping the language test, other potential barriers to investment such as the amount of time investors must stay in the country will also be adjusted, she said.

"Capital is highly mobile and in an increasing complex world, people are looking for a safe and stable country to do business,” Stanford said. "We are now making our investor visa simpler and more flexible to incentivize investors to choose New Zealand as a destination.”

After a sharp recession in 2024, the New Zealand government wants to capitalize on falling interest rates to lift economic performance but has acknowledged it lacks the necessary capital. It is reworking foreign investment regulations, has created a single agency to act as a one-stop shop for overseas fund managers and has eased rules to allow visitors to work remotely, hoping that might encourage highly skilled people to relocate permanently.

"We should be rolling out the welcome mat and encouraging investor migrants to choose New Zealand as a destination for their capital,” Economic Growth Minister Nicola Willis said Sunday. "Foreign investment has the potential to provide jobs for Kiwis, lift incomes by delivering new businesses and investing in existing ones.”

The Active Investor Plus visa was successful at luring rich individuals to New Zealand and raked in an average NZ$1 billion ($570 million) a year, but has languished after rule changes in late 2022. Just 43 applications have been fully approved since the adjustments were made, equating to NZ$545 million of nominated investment funds, according to data from Immigration New Zealand.

The new program will have two categories:

Growth, or higher risk, requires a minimum investment of NZ$5 million over three years either directly into businesses or into managed funds. Visa holders must spend just 21 days in the country.

Balanced, or mixed risk, requires a minimum of NZ$10 million invested over five years into bonds, stocks, new property development including residential, or existing commercial and industrial property. Holders must spend at least 105 days unless they invest above the minimum.

New Zealand’s easing of its investor visa rules comes at a time when many other nation are ending theirs. Spain will end its golden visa program on April 3, while the U.K., Ireland, the Netherlands, Greece and Malta have either ended or tightened the rules around their golden visa or equivalent policies.