New Zealand relaxes visas to stimulate economic growth

The New Zealand government will "simplify and make more flexible" visas in a bid to attract international investors to the country.

Photo of Auckland city, New Zealand at sunset - Photo: REUTERS

On February 9, the New Zealand Government said the country will continue to relax visa regulations to attract more foreign investors, in order to stimulate economic growth, according to Reuters news agency.

New Zealand's Immigration Minister Erica Stanford says the country's investor visa will be "simplified and made more flexible" to encourage investors to choose New Zealand.

The visa simplification for investors is aimed at their “capital, skills and international connections”.

Ms Stanford added that two new visa categories – for “higher risk investments” and “mixed investments” – would also be created. The expansion would take effect on April 1.

“These changes will boost our economic growth, bringing brighter days for all New Zealanders,” Minister Stanford said.

This is the second time the New Zealand Government has relaxed visa regulations to boost economic growth.

Previously, on January 27, the government also relaxed visa regulations, allowing tourists to work while visiting the country.

The change comes as digital nomad visas - people who work in technology while travelling - have become "extremely popular" overseas and New Zealand is targeting those who want the opportunity to work and travel here.

New Zealand's visa changes come as the country looks to boost growth after falling into a technical recession in the third quarter of 2024.

Data released in December 2024 showed that New Zealand's gross domestic product (GDP) fell 1.0% in the third quarter compared to the previous quarter, far exceeding market forecasts of a 0.2% decline, according to Reuters.

In addition, the country's vital tourism industry has yet to fully recover from the COVID-19 pandemic, with international arrivals last year only reaching about 86% of 2019 levels.

Source: https://tuoitre.vn/new-zealand-noi-long-thi-thuc-de-kich-thich-tang-truong-kinh-te-20250209205013059.htm