Overview

• The proposed carve-out would allow Active Investor Plus participants to purchase homes priced at NZ$5 million or more.
• Ministers are expected to discuss the plan at a Sept 1 Cabinet meeting, according to people familiar with the matter, and a spokesperson for Prime Minister Christopher Luxon declined to comment.
• If approved, the exemption would not take effect until reforms to the Overseas Investment Act are enacted later in 2025.
• The golden visa program, relaunched in April, has received 267 applications covering 862 people as of Aug 8, representing at least NZ$1.63 billion in potential investment, with about 40% of applicants from the United States.
• New Zealand’s 2018 foreign-buyer ban limits purchases to citizens, tax residents and Australians or Singaporeans, and New Zealand First leader Winston Peters has previously signaled openness to a tightly limited luxury exception linked to investment.