Macro Voices #513 — Why Are All The Rich Guys Moving To New Zealand and What Do They Know?

Date: December 31, 2025
Host: Erik Townsend

Episode Overview

This special New Year’s episode takes a deep dive into the phenomenon of high-profile, high net worth individuals — including Peter Thiel, Julian Robertson, Larry Page, and James Cameron — “flocking” to New Zealand, either moving there or obtaining resident visas. Host Erik Townsend explores the real reasons behind this trend, challenging conspiracy theories and bringing expert guests to uncover both the lifestyle and the little-known financial/tax incentives that make New Zealand attractive for global investors. The show features three interviews:

1. Mark Williams — Immigration attorney and architect of the New Zealand Active Investor Plus Visa program.
2. Graham Lawrence — Tax partner at Acclaim, explaining the tax landscape for immigrants and residents.
3. Brendan Goodwin — Commercial real estate attorney and high-end property specialist, discussing property market issues and lifestyle.

Throughout, the conversation is frank, practical, and aims to break new ground for an audience of finance professionals and sophisticated investors.

Key Discussion Points and Insights

1. Why Are the Wealthy Moving to New Zealand?

• Dispelling Myths: It’s not about prepping for doomsday; most wealthy individuals aren’t moving for conspiracy or "end of the world" reasons.
  (B - 00:34)
• Actual Motives:
  • Jurisdictional Diversification: Investors and family offices want the optionality to relocate assets and family, mitigating risks of being tied to a single country.
    (C - 05:53)

    “It’s probably good to have assets or funds outside of one single jurisdiction... not having all your eggs in one basket.” — Mark Williams (C, 05:53)

  • Banking a Visa: Wealthy clients seek a “lifetime call option” to live in a safe, stable, resource-rich country, usable if global affairs deteriorate.
    (C - 05:53)

2. Understanding the Active Investor Plus (AIP) Visa

How the Program Works (07:17–13:53)

• Investment Categories:
  • Balanced: NZD 10 million (approx. USD 5.8m) in safe assets (e.g., government bonds) for 5 years; 105 days physical presence required.
  • Growth: NZD 5 million (approx. USD 2.9m) in higher-risk assets (e.g., VC, private equity) for 3 years; only 21 days total physical presence—can be a single visit.
  • Family Coverage: Spouse and dependent children can be included; children get lifelong permanent residency.
• Optionality:

  “A lot of our clients are looking at long term succession and like the fact that they can secure a permanent visa for their children even at a very early age...” — Mark Williams (C, 09:08)

What’s Required—And What’s Not

• After investment and the required brief visit(s), applicants receive a permanent resident visa for life—with no future obligations.
• The program is tailored to attract not just capital but “human capital”—globally connected, sophisticated investors who can contribute experience and networks.
• Efficiency: Compared to other "golden visa" schemes, New Zealand’s system is much faster (approvals in weeks to ~2 months), well-organized, and less bureaucratic.
  (C - 21:14)

  “We were getting approvals within as little as three to five working days... at the moment, you know, from filing... preliminary approval within one to two months...” — Mark Williams (C, 21:14)

Residential Property Rule — A Recent Change

• Historically, foreign investors with this visa could not buy residential property unless becoming tax resident.
• Upcoming Legal Change (expected Q1 2026):
  Holders of the AIP visa will soon be allowed to buy a single residential property (NZD 5m+), without full tax residency—aimed to promote integration/extended stays without fostering property speculation.
  (C - 17:48, 18:27)

Succession Planning

• Permanent residency applies to children included on the application, letting families bank optionality for future generations without ongoing investment or presence.
  (C - 09:08 to 10:59)

“Falling in Love” with New Zealand

• Notable anecdote: Many come for their required visit reluctantly, only to call their advisor mid-trip wanting to buy a home after seeing Queenstown.
  (B - 13:53)

  “About halfway through those 21 days, their immigration consultant gets the phone call... We just can't imagine any place being more beautiful...” — Erik Townsend (B, 13:53)

3. The Little-Known Tax Advantages for New Residents

No Tax Until You Move (30:23–31:10)

• Merely holding an AIP visa does not create any New Zealand tax liability unless you physically take up residence.

The Hidden Gem: Four-Year Tax Holiday (31:32–34:43)

• Transitional Residents (not NZ tax resident in the prior 10 years) enjoy a four-year exemption on all global income (only NZ-source income is taxed).
• This benefit is especially valuable for non-US, non-Japanese global citizens who are not taxed on worldwide income by their home country.
  (B - 32:05)

  “The four years is a hidden gem... exemption on your worldwide assets and liabilities for a period of four years.” — Graham Lawrence (D, 31:32)

After the Holiday: No Broad-Based Capital Gains Tax! (34:43–39:38)

• Even after the 4-year exemption period:

  • No broad-based capital gains tax.
  • No wealth, inheritance, or social security/payroll taxes.
  • International investments taxed under the “FIF” regime—effectively, the first 5% of gains in foreign shares is taxed at 39%, meaning a maximum of 1.95% of asset value annually for such investments. High returns above 5% are tax-free.
    (B - 35:43, D - 35:43)
  • Real estate gains mostly untaxed except for "flipping" business or very short-term holds.

• Double Taxation Relief: Extensive agreements with other countries assure no double-taxation for US, Japanese citizens.

Prospective Changes Under Review

• NZ government is considering making post-holiday taxation “realized” instead of notional, but any changes are in consultation and not expected until (at earliest) March 2026.
• For now, the capped FIF system is still one of the most attractive globally for investors.
  (D - 41:55)

4. The Real Estate Picture—And Lifestyle Considerations

Why New Zealand Real Estate? (48:51–57:18)

• Diversity: Urban city living (Auckland) with global amenities, or resort/lifestyle destinations (Queenstown, Bay of Islands, Waiheke).
• Sensitive Land Rules: Extra approvals (“OIO consent”) for coastal, island, or large rural properties, but not a barrier for most buyers.
• Upcoming Law Change (as above): Visa holders to legally acquire one residence—already creating surge demand and contracts conditional on the pending law.
  (E - 51:48–65:13)

  “There are already real estate transactions... subject only to the change of the rule...” — Brendan Goodwin (E, 63:31)

New Zealand’s “Marketing Problem”

• Despite its supreme natural beauty, stability, and now world-class tax regime, the global HNW community hasn’t caught on (“not a territorial tax regime” on paper; reality is different).
  • The cost/performance ratio for luxury property is far superior to places like Singapore or Hong Kong.
  • Expected: As more investors discover these advantages, demand and prices will rise, especially in prime Auckland and top-end lifestyle properties.
  • Inventory of prime “city dweller” properties remains limited—early movers have the advantage; the “window is closing.”
    (E - 63:31, 65:13)

A Lifestyle and Logistics Advantage

• Timezone: Auckland’s timezone is ideal for trading US markets late morning rather than pre-dawn, creating “quiet superpower” for traders.
  • Long-haul travel is now much more comfortable with lay-flat seats in business/first—NZ is less isolated than many imagine.
• Ease of Integration: Brendan acts as a buyers’ agent and concierge for international clients, helping ease every aspect of transition.
  (E - 69:40–73:52)

Notable Quotes & Memorable Moments

• Anecdote – "Queenstown Epiphany":
  (B - 13:53)

  “About halfway through those 21 days... We just can't imagine any place being more beautiful. We've got to have a home here.”

• On the Quality of the Program:
  (B - 22:45)

  “I predict that backlog is going to get even bigger because... it is the best program that exists anywhere worldwide and also happens to be a country that's absolutely a beautiful, amazing place.”

• On Tax Residency and Flexibility:
  (D - 34:01)

  “I'd love to say as a tax guy, this is the reason why people are coming to New Zealand, but it isn't. People are coming... and then what they do understand is there is actually a significant tax advantage... The four years is a hidden gem.”

• On the Coming Surge:
  (B - 65:51)

  “There's a real good chance that people are going to miss out if they don't act really quickly.”

• On the Country's Unique Selling Proposition:
  (B - 75:06)

  “I had no idea until I started researching this podcast episode that I would actually end up with a second home in New Zealand... It's been a real discovery for me.”

Important Timestamps

• [05:53] — Mark Williams on the true drivers behind migration to NZ
• [07:17] — Requirements, cost, and family coverage of AIP Visa
• [13:53] — The “21 days in New Zealand” anecdote and falling in love with Queenstown
• [17:48] — Mark Williams on pending law changes for property purchases (Q1 2026)
• [21:14] — Approval speed and process efficiency in NZ’s golden visa compared to others
• [30:23] — Graham Lawrence: Tax implications of holding NZ visa without moving
• [31:32] — Four-year tax holiday for transitional residents explained
• [35:43] — The mechanics of the FIF tax regime
• [39:38] — Absence of wealth, inheritance, social security taxes; double-tax agreements
• [48:51] — Brendan Goodwin’s unique blend of law & real estate for HNWI clients
• [51:48–65:13] — Real estate market structure, OIO consent, urban vs. rural NZ, inventory issues
• [69:40] — Discussion of “themed building” concept for a new global HNW community in Auckland
• [78:54] — Risks of government changing FIF regime and marketing gaps

Final Takeaways

• New Zealand’s appeal to the ultra-wealthy is a mix of lifestyle, optionality, and (little-known) tax incentives — not fear of catastrophe.
• The Active Investor Plus visa is remarkably affordable, inclusive, efficient, and flexible compared to global peers.
• There is a significant, underpublicized tax holiday and an especially favorable system for investment income taxation after that.
• Once the news spreads, a surge in high net worth migration (and property demand) is highly probable — “early movers” benefit most.
• NZ’s property market, especially high-end city apartments, remains under-supplied for the global elite.
• Government policy changes (especially FIF) remain the key risk; maintaining the current regime is critical to NZ’s growing appeal.
• For globally mobile, investment-driven individuals seeking optionality, wellness, and resource security, New Zealand is “the best-kept secret” — at least, it was until now.

Contact references (as discussed in the episode):

• Mark Williams (Immigration): mark.williams@laneneave.co.nz
• Graham Lawrence (Tax): newzealand.acclaim.com | LinkedIn: Graham Lawrence
• Brendan Goodwin (Property): brendan@uniq.nz

End of summary.