Overseas Investors – New Zealand’s “Golden Visa” Property Pathway – FAQs

On 1 September 2025, the government announced that overseas persons with an Active Investor Plus Residency Visa (the “Golden Visa”) will soon be able to purchase one home in New Zealand worth over $5 million.

Following that announcement, we have received a high level of enquiry regarding the proposed changes.  While there is still a great deal of detail to come, to assist our clients, colleagues, and key industry partners, we have prepared the following FAQs for reference in the interim:-

What do the latest changes mean specifically and who do they impact?

• As above, the new pathway will allow overseas persons with a Golden Visa to purchase one home worth over $5,000,000.00 (NZD) (the “Pathway”).
• The Golden Visa categories are:

• The Growth category:- which focuses on higher-risk investment, including direct investments in New Zealand businesses. It requires a minimum investment of $5,000,000.00 (NZD) for a minimum period of three years.  Over those three years there is a requirement to spend a minimum of 21 days in New Zealand (in total); and
• The Balanced category:- which focuses on mixed investments, with the ability to choose ones that are lower risk. The minimum investment in $10,000,000.00 (NZD) over five years.  Over those five years there is a requirement to spend a minimum of 105 days in New Zealand (in total).

• For the avoidance of doubt, the purchase of a home under the Pathway does not count toward the minimum investments above.
• Individuals who received residence visas under the previous Investor 1 & 2 visas will also be eligible for the Pathway.

When will the changes take effect?

• We do not yet have definitive date, but understand the Pathway will be in effect by the end of 2025.

What types of properties can be purchased?

• The Pathway allows Golden Visa holders to purchase residential or lifestyle properties which are not otherwise sensitive.  For example, the pathway could not be used to purchase rural land exceeding 5ha,  or a residential property which exceeds 4,000sqm adjoining certain reserves/conservation land.
• As above, there is a minimum threshold of $5 million.  However, it is understood a Golden Visa holder could purchase a residential or lifestyle section for a lesser sum (on which they intend to build a house), provided the total cost of the house and land exceeds $5 million.

Are the changes material?

• The changes will most greatly benefit Golden Visa holders (or future Golden Visa holders) who do not intend to move to New Zealand and become “ordinarily resident”.
• Residence class visa holders who have an intention to become “ordinarily resident” and spend more than 183 days per year in New Zealand could already purchase property via the Overseas Investments Office’s “One-Home to Live in Pathway”.
• Golden Visa holders will no longer need to meet that 183-day threshold, needing only to meet the minimum day threshold under their specific visa (as above).
• By way of reminder, Australian Citizens and Singaporean Citizens can already purchase residential or lifestyle properties which are not otherwise sensitive, these changes do not vary those existing exemptions.

What do the changes mean for overseas persons interested in purchasing property in New Zealand?

• For those who don’t already hold a Golden Visa, the first step would be to pursue an approval in principle. 
• For those who do already hold a Golden Visa, it will be a matter of waiting for the change in legislation to take effect.  
• It is of course possible to put conditional offers in place subject to receiving all necessary Immigration NZ and OIO approvals, but that will depend on the willingness of the particular vendor of the property in question.

We will provide further information as it becomes available, but in the interim, should you have any queries regarding Golden Visa’s or the Pathway please contact our Queenstown Property team.