Kevin Brady, former House Ways and Means Committee chairman and an advisor to Americans for Free Markets, told FOX Business that steep taxes and heavy regulation are driving businesses and individuals to leave blue states.
Wealthy Americans are investing in New Zealand’s “golden visas” as they look to relocate to the South Pacific nation.
The Financial Times reported that over 700 wealthy foreigners have applied for New Zealand’s golden visa in the last 14 months – an increase from 115 in the prior three years – after the government eased the criteria for approval.
Over one-third of the applications submitted since April 2025 were filed by Americans, according to the report. It also noted that Americans accounted for 277 of the applications, with many Californians expressing interest in the golden visa, which is formally known as the Active Investor Plus Visa.
The golden visa program requires applicants to make a minimum investment of $5 million New Zealand dollars over three years, with funds invested in local funds, companies or charities – though the philanthropic commitment is capped at 20% of the total investment.
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New Zealand’s golden visa program is designed to attract foreign investment to cities like Auckland, with indefinite residential status on offer. (Fiona Goodall/Bloomberg via Getty Images)
An additional 127 applicants have sought a golden visa under a separate program which entails investing $10 million in New Zealand’s passive assets, like bonds, over a five-year period.
Foreigners who receive a golden visa have the right to remain in New Zealand for an indefinite period of time, including the right to work in the country of over 5 million people.
The New Zealand government recently eased some of the other rules governing the golden visa programs, including removing an English language requirement and relaxing the amount of time required for recipients to spend in the country.
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A cable car travels above the central business district in Wellington, New Zealand. (Mark Coote/Bloomberg via Getty Images)
It also reduced the minimum investment requirement from the original 2022 requirement of $15 million to either $5 million for the growth category and to $10 million for the “balanced” category, while the range of acceptable investments was also broadened for the balanced category to include bonds and property investments.
Individuals who apply for golden visas in the growth category must spend at least 21 days in New Zealand over three years, after the government eased the requirements around the amount of time that must be spent in the country.
Under the balanced investment category, holders of the golden visa must spend at least 105 days in New Zealand over five years.
A view of Queenstown, New Zealand. (Varuth Pongsapipatt/SOPA Images/LightRocket via Getty Images / Getty Images)
However, that time-in-country requirement may be reduced by 14 days for each $1 million in New Zealand dollars invested in growth category investments up to a maximum reduction of 42 days – at which point the visa holder must spend 63 days in the country over five years.
Investments made to reduce the time requirement would have to be proposed before the visa application is approved in principle.
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Fox News Digital’s Ashley J. DiMella contributed to this report.
