AsianFin -- New Zealand announced on Monday a significant surge in applications for its newly revised foreign investor migrant visa, as the centre-right government aims to attract more high net-worth individuals to boost economic growth.

In April, the government eased visa requirements by lowering the minimum investment threshold for the higher-risk category from NZ$15 million ($3 million) to NZ$5 million, while also eliminating the English language proficiency requirement. These changes have spurred increased interest from foreign investors seeking residency in the country.