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America’s elite are increasingly seeking “golden” visas — with one country that offers the opportunity now pushing to open even more doors for the wealthy.
New Zealand parliament members are weighing an exemption to the country’s foreign buyer ban for golden visa holders.
For those individuals, the change would greenlight the purchase of luxury homes, namely homes that go for at least $3 million.
The bill that’s under discussion would amend the Overseas Investment Act 2005 to reduce compliance costs and safeguard New Zealand’s “national interest,” according to the New Zealand Parliament’s website (NZP).
Politician David Seymour shared his support of the bill during the first reading of the amendment.
“We are a place where our friends who would like to do business with fellow Kiwis, who would like to invest, to trade value for value, and get stronger together with us are welcome under our laws,” said Seymour.
Others in support of the measure said the country needs foreign investment to grow its economy.
Stuart Nash, former New Zealand minister for economic development and co-founder of Nash Kelly Global, told Fox News Digital the visas are becoming more popular.
“You’ve got a war going on in Europe, you’ve got the tinderbox, which is the Middle East,” he said. “You’ve got a change in the U.S. administration, which is causing more polarization than we’ve seen in a long, long time.”
“There are many Americans wanting to settle in New Zealand, as we’re seen as this oasis at the bottom of the world,” he added.
“You don’t have to renounce your U.S. citizenship at all,” he also said.
“You can get permanent residency for life, and you can live the New Zealand dream.”
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