New Zealand Wants Rich Foreigners to Come Live There. Americans Are Beating a Path.
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New Zealand Wants Rich Foreigners to Come Live There. Americans Are Beating a Path.

A new Golden Visa is luring wealthy Americans to New Zealand with minimal stay requirements and a fast track to permanent residency—just as uncertainty grows back home.

By Abby Schultz
Tue, Apr 8, 2025 10:19amGrey Clock 3 min

New Zealand has created a new, easier path to residency for wealthy people, and it’s attracting attention from Americans looking for an alternative to living in the U.S.

According to New Zealand Trade and Enterprise—the government’s international business development agency—70% of incoming inquiries into a revised program leading to permanent residency in the country are from the U.S.

A spokesperson with the agency said it remains to be seen whether those inquiries turn into the same level of visa applications. Still, the inquiries are evidence that Americans are interested.

“There’s a huge increase in demand from the U.S.,” said Dominic Jones, managing director of Greener Pastures New Zealand, which helps those applying for the country’s so-called Golden Visa to find investment opportunities.

Many U.S. citizens are seeking residency in New Zealand—as well as other countries —as a “plan B” during President Donald Trump’s administration, according to immigration attorney David Lesperance. Many of these are applicants who worry Trump could exact retribution on them or their families for perceived slights, in addition to those who have family members that could face discrimination because of their sexual orientation. Some are concerned about the future of the U.S. economy.

For those with the money, reallocating $2.88 million in assets from the U.S. to New Zealand for three years—as the new requirements allow—isn’t a heavy lift, Lesperance said. “Depending on foreign exchange and returns on investment over this time, the cost could easily be zero or positive,” he wrote in an April 2 blog post.

Investment visa

The island country is also only requiring applicants to be physically present for 21 days over three years, depending on which category of investment visa they pursue.

“These applicants are people who are in a financial position to look at this as an asset reallocation and one or two vacations in the next three years in exchange for a permanent insurance policy in a first-world country,” Lesperance told Barron’s.

U.S. citizens have long been interested in living in New Zealand. About 38% of applicants to a previous program with stricter requirements that was in effect from September 2022 through April 1 this year were from the U.S., according to the trade and enterprise agency.

That program required a four-year investment of between NZ$5 million and NZ$15 million ($2.88 million and $8.4 million) in the country, with the amount varying depending on the type of investment. It also required being in the country at least 117 days over four years and passing an English language test—which was more an annoyance than an impediment for U.S. citizens.

Wealthy investors consider New Zealand as a residency option because of the country’s lifestyle, climate, and dramatic, beautiful landscapes, according to Jones. It’s also a stable, English-speaking democracy with a free economy, and it’s safe, he said.

“We’re on the other side of the world,” Jones said. “We don’t tend to get involved in global conflicts. The drive to safety isn’t why all people all choose Golden Visas, but it’s why people choose the New Zealand option.”

The revised New Zealand Active Active Investor Plus Visa program that went into effect on April 1 eases up on the previous requirements through the introduction of two categories for obtaining permanent residency.

Growth category

Under a “growth” category, applicants need to invest $2.88 million for three years directly into privately owned New Zealand-based companies that have been approved by the trade and enterprise agency, or in New Zealand managed funds that are invested in the local economy, Jones said.

Applicants are only required to be in New Zealand for 21 days during the three-year investment period, and they don’t have to pass an English test.

A second “balanced” category requires a minimum $5.6 million over five years, but allows it to be invested more passively in listed stocks, government bonds, and New Zealand-based corporate bonds, Jones said. It also requires applicants to be present in the country for at least 105 days over five years.

Once the requirements are met during the three- or five-year period, applicants achieve permanent residency in New Zealand, even if they no longer spend time in the country, according to Lesperance.

The growth category was structured to be quicker and more attractive, to encourage applicants to make meaningful, active investments in the country with the potential to spur economic growth and create jobs.

“What our government is trying to do is attract capital, but also put it into forms of enterprise where the impact on the economy is material,” Jones said.



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Randy Boyagoda’s new novel, “Lords of Serendipity,” delivers a biting satire of cheating, politics and dysfunction across modern universities.

By
Thu, Sep 3, 2026 5 min

Administrative cowardice. Rampant cheating. The soaking and scamming of undergrads and grad students. Performative wokeism. Intensifying competition for international tuition dollars from an expansive China.

These are either the latest dire headlines about American higher ed or the myriad subplots of “Lords of Serendipity,” an ambitious new novel by Randy Boyagoda. Unlike most campus fiction, its scope extends well beyond the cloister of the liberal arts classroom to whammy the entire university system, from its financial model to its function within a globalized economy. Along the way, it skewers its lightning-rod targets with a precision too sharp to be considered entirely fictional.

That its author is not only well-versed in satire, having written four other novels in the genre, but is also a professor of English at the University of Toronto and an experienced college administrator, further blurs the lines between comic fiction and brutal fact. It’s the kind of no-holds-barred book only a consummate insider would know to write—but only one who is also conveniently outside the American university system could get away with writing.

“This is someone who’s got the inside dope on what can go on at universities, especially with international students, and what kind of con games are going on,” said Margaret Atwood, a friend and fellow Torontonian.

The novel, like Boyagoda himself, is often very funny—even as the dilemmas its characters face read as tragedy. Its cast includes the bickering members of a Sri Lankan hotel cleaner’s family, insecure American freshmen, dead-end third-tier college professors and their highflying Ivy League counterparts and dispirited university functionaries. An old-fashioned Dickensian tale, it sweeps across continents and campuses, from a classic liberal-arts college to a stand-in for Harvard University to an urban technical school to the dilapidated buildings of a state-run university in Sri Lanka.

“I’m a joyful person,” Boyagoda said in an interview, though he prefers to see his outlook on academia as “hopeful” rather than optimistic. He smiles and laughs frequently. He bikes everywhere. He derives energy from his students and from his four daughters, ages 14 to 20. They help him and his American wife, Anna, also an educator, care for Boyagoda’s father, an immigrant from Sri Lanka who has dementia and lives with the family.

Randy Boyagoda speaks at a panel discussion.
Randy Boyagoda taking part in a panel discussion at the University of Toronto in 2024. Polina Teif/University of Toronto

The germ of the novel came to Boyagoda during the pandemic, when he was serving as a vice-dean. An urban legend was circulating about a statistics grad student selling passing grades to international students. The cheating scheme itself may well have been apocryphal, but it felt tantalizingly plausible.

“As a novelist, it stayed with me,” Boyagoda said. “Who would sell grades for a stats course? Why would someone buy grades? What’s motivating them? Why wouldn’t the university be doing something about it?” What he didn’t want to do, he explained, was write “another novel about a creative writing professor and his drama with students.”

In addition to writing novels—the first of which was a finalist for Canada’s prestigious Giller Prize; he’s written eight books in total—Boyagoda teaches literature full-time. For his students next semester, kids raised in a purportedly “post-literature era,” he’s assigning three 700-page novels, he noted mischievously, books by George Eliot, Ralph Ellison and Kiran Desai.

On RateMyProfessors, students remark on Boyagoda’s heavy assignments, tough grading and distaste for cellphones, but also hail his “comedy.” When alerted to these reviews, Boyagoda laughed. “Guilty as charged,” he said.

“Randy’s one of those people in academia who is very well educated but doesn’t have an ounce of superiority about him,” said John Irving, who frequently guest lectures in Boyagoda’s classroom. “It’s amazing to see how willing students are to talk in his classrooms, how little afraid they feel of being mocked or put down—he gets complete candor out of them.”

Negotiating competing interests seems to come naturally to him. Like many college campuses, after the Oct. 7 Hamas attack on Israel, the University of Toronto was embroiled in protests, encampments and discord; part of the school’s response was to convene a working group on civil discourse. Boyagoda was put in charge, serving for two years. It’s the kind of thankless task many professors would flee from, but Boyagoda relished the prospect and thinks the group, which is ongoing, made progress.

He has since pivoted to another formidable academic concern: the waning prestige of the humanities. In July, Boyagoda became the director of the Jackman Humanities Institute and special advisor on the humanities to the dean of arts and science. This fall, he is starting a series of gatherings he calls the Dead Book Club. (Dead writers feature heavily among his favorites: St. Augustine, Dante, William Faulkner, Evelyn Waugh, Saul Bellow.)

“The goal is to encourage students to read for its own sake and have conversation for its own sake,” Boyagoda said. “The importance of the humanities will be revealed to those who participate.”

Illustration of the book cover for "Lords of Serendipity" by Randy Boyagoda, depicting a woman wearing a hat with various buildings on top, against a blue background with a white airplane.

“Lords of Serendipity,” which publishes next week, reflects Boyagoda’s commitment to the pursuit of knowledge: “I’m supposed to say I learn more from my students than they do from me, but no,” Boyagoda said. “I enjoy sharing my excitement and joy about literature and ideas. There are these moments when you are teaching and you can see someone’s face change because they didn’t know something and then they did. That moment when you’re actually watch someone enlarge themselves is deeply satisfying.”

In literary circles, Boyagoda is often referred to as a Catholic novelist, a description he embraces. “A novelist willing to give shape and voice to contemporary religious experience is needed,” Boyagoda said. “I understand myself as a Catholic novelist, provided that I’m not only a Catholic novelist, I’m also a South Asian novelist and I’m a Canadian novelist. I don’t want to be captive to one label.”

His characters, he said, are subjected to what he calls “Graham Greene character situations.”

“They are trying to do good in a fallen world and realize the most they can do is less harm than someone else would do in that same role,” he explained. “They have to accept they are complicit in something that provides some good thing to others. It’s a very Graham Greene way of thinking about sacrifice.”

The campus green they inhabit is a febrile zone in which lofty ideals and cynicism regularly collide. It’s a place where a traditional holiday college celebration is now an occasion for political protest. Kids freely police one another inside and out of the classroom with social media their constant, ready weapon of choice. International students, knowing their family’s financial futures hinge on their degrees, operate in terror of failure and deportation.

Early readers of the book include Gary Shteyngart and Junot Diaz, both of whom have taught at universities and written comic novels. They each contacted Boyagoda midway through to say, in essence, “You nailed it.”

As biting as “Lords of Serendipity” can be, Boyagoda’s faith in higher education remains undaunted.

“It’s absurd that we live in societies that make the decision to take people between the ages of 18 and 22, when they are most physically capable of contributing to our nations and communities, and tell them, ‘Go away for four years, and read and learn and have conversations,’” he said. “I want students to be aware of what an incredible privilege that is.”

Corrections & Amplifications
Randy Boyagoda is a special advisor on the humanities to the dean of arts and science at the University of Toronto. An earlier version of this article incorrectly said he is a special adviser to the dean of humanities. (Corrected on Sept. 2)

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