The Active Investor Plus Visa that historically lured rich individuals to New Zealand and raked in an average NZ$1 billion (S$780 million) a year has languished after rule changes in 2022.
Just 35 applications have been fully approved in the past two years, equating to NZ$352 million of nominated investment funds, according to data from Immigration New Zealand.
"We are conscious that the last government changed those settings and we saw a marked decline in the number of investors," Finance Minister Nicola Willis said in an interview on Dec 12 in Wellington. "You can expect to see announcements from us on that in the coming weeks."
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OLD ART, NEW LOOK, MURAKAMI STYLE
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