Demand for New Zealand’s “golden visas” has increased sharply in the past six weeks under new looser rules, with the majority of new applications coming from the US.

New Zealand eased the rules of its golden visa programme in February, part of a push by Prime Minister Christopher Luxon’s centre-right government to attract more foreign investment to boost the country’s flagging economy.

The new scheme, which came into effect in April, removed English-language requirements and lowered the investment threshold for the “growth” visas to NZ$5mn (US$3mn). Applicants must spend just 21 days in the country to establish residency, down from three years. The application process has also been cut to 11 days, on average, according to the immigration department.