What Investments Qualify for New Zealand's Active Investor Plus Visa?
October 31 2026
New Zealand’s Active Investor Plus Visa (AIP) accepts several types of investments under two categories: Growth and Balanced. Under the rules in effect in 2026, applicants must invest at least NZD $5 million in the Growth category for 36 months, or NZD $10 million in the Balanced category for 60 months. Eligible investments include direct investments, approved managed funds and philanthropy under Growth, while Balanced also accepts listed equities, qualifying bonds and eligible property developments.
Choosing the correct investment category is one of the most important decisions in an Active Investor Plus application. An investment may be commercially attractive but still fail to meet Immigration New Zealand’s immigration requirements.
In my experience advising internationally mobile investors, the strongest applications begin with two questions: Is the proposed investment acceptable under the relevant category, and can the applicant demonstrate exactly where the investment funds came from?
This guide explains the qualifying investment options, minimum capital requirements, investment periods, family eligibility, documentation and common application risks under New Zealand’s 2026 immigration settings.
Would you like us to check your eligibility?
Please get in touch with us and our Immigration consultant will guide you!
What Are the Two Investment Categories Under the Active Investor Plus Visa?
Since 1 April 2025, New Zealand’s Active Investor Plus Visa has operated under two investment categories: Growth and Balanced. Both provide a pathway to residence, but they differ in minimum investment, eligible asset classes, investment periods and time spent in New Zealand.
The Immigration New Zealand investment framework is designed to encourage overseas capital into New Zealand businesses and other qualifying investments.
Here is a comparison of the two categories:
| Requirement | Growth | Balanced |
| Minimum investment | NZD $5 million | NZD $10 million |
| Investment period | 36 months | 60 months |
| Investment profile | Higher risk | Broader investment choice |
| Managed funds | Yes, if approved | Yes, if approved |
| Direct investments | Yes, if approved | Yes, if approved |
| Listed equities | Not generally eligible | Yes |
| Bonds | Not generally eligible | Yes |
| Property developments | Not generally eligible | Yes, if qualifying |
| Philanthropy | Maximum 20% of total investment | Yes, subject to applicable criteria |
The distinction matters. An investment that qualifies under Balanced does not automatically qualify under Growth.
Immigration New Zealand and Invest New Zealand assess whether an investment meets the relevant immigration criteria. Their assessment does not represent a guarantee of financial performance or commercial success.
Official reference: Immigration New Zealand, Acceptable Investments for an Active Investor Plus Visa.
What Investments Qualify Under the Growth Category?
The Growth category is designed for investors willing to accept higher investment risk in exchange for exposure to New Zealand businesses and growth-oriented investment opportunities.
Applicants must invest at least NZD $5 million in qualifying investments and maintain their investment for 36 months.
There are three recognised investment options.
1. Direct investments in New Zealand businesses
Direct investments involve investing capital directly into qualifying New Zealand businesses.
Examples may include acquiring shares in a New Zealand company or participating in an approved business investment opportunity.
However, purchasing shares in any New Zealand company does not automatically qualify.
Under the Growth category, the direct investment must be assessed and accepted by Invest New Zealand against the applicable immigration criteria.
Before proceeding, investors should establish:
- Whether the business and proposed investment meet the current acceptance criteria.
- Whether the investment structure is eligible.
- Whether the investment can be maintained throughout the required period.
- Whether the company can provide appropriate evidence of the investment.
- Whether the proposed transaction creates any regulatory or overseas investment approval requirements.
Investors should also consider the commercial risks. Direct investments can be difficult to sell quickly, and the business may require capital beyond the minimum immigration investment period.
2. Approved managed funds
Managed funds allow investors to invest through professionally managed investment structures rather than selecting individual businesses themselves.
For the Growth category, the managed investment scheme must be included on Invest New Zealand’s acceptable managed fund list.
The applicant must also enter into a legally binding agreement with the fund manager or an eligible nominee. The agreement must establish the applicant’s commitment to acquire investment products in the approved managed fund.
An important feature of this arrangement is that committed capital can count towards the investment requirement under the applicable rules, even if the fund manager has not yet called on all the committed funds.
However, uncalled funds cannot simply remain unused in an ordinary personal bank account. They must be maintained in qualifying on-call investments in accordance with Immigration New Zealand’s requirements.
Before committing capital, investors should review the fund’s structure, fees, investment strategy, liquidity provisions and redemption restrictions.
3. Philanthropic investments
Philanthropy is also recognised under the Growth category, subject to a specific limit.
No more than 20% of the total investment can be allocated to philanthropy under Growth.
For example, an investor committing the minimum NZD $5 million could allocate up to NZD $1 million to qualifying philanthropic investments.
A donation must meet Immigration New Zealand’s requirements. These include eligibility of the receiving organisation and the purpose of the donation.
The applicable immigration instructions specify qualifying New Zealand registered charities and certain approved Department of Conservation initiatives. Charity donations must meet the relevant registration, reporting and domestic-purpose requirements.
A donation to any charitable organisation does not automatically qualify.
Investors should verify the receiving organisation’s eligibility before transferring funds.
What Investments Qualify Under the Balanced Category?
Applicants must have the legal capacity required for the relevant investment and citizenship procedures. For the principal investor, this generally means being an adult with the legal authority to enter into the investment transaction.
There is no universal upper age limit commonly associated with the main investment routes. Nevertheless, legal capacity, identity verification and any requirements specific to the transaction must be confirmed.
Nationality also matters. Turkish citizenship legislation and administrative restrictions may affect applicants from certain countries or individuals subject to sanctions or other legal restrictions. Investors should not assume that every nationality is automatically eligible. A case-specific review is advisable before funds are transferred or contracts are signed.
1. Direct investments
Investors can make qualifying direct investments in New Zealand businesses, subject to the relevant acceptance criteria.
Where the investment is subject to assessment by Invest New Zealand, approval should be established before committing capital.
2. Managed funds
Qualifying managed funds are also available under Balanced.
The relevant fund and investment structure must meet the applicable Immigration New Zealand requirements. Investors should not assume that an ordinary investment fund automatically qualifies simply because it invests in New Zealand.
3. Listed equities
The Balanced category allows qualifying investments in listed equities.
These are investments in shares of eligible New Zealand-resident entities through qualifying market arrangements.
Depending on the structure, investments may be held directly or through an exchange-traded fund or managed fund, provided the applicable requirements are satisfied.
The investment must meet the relevant New Zealand regulatory and market criteria.
An overseas share portfolio or a general international equity fund should not be assumed to qualify. Only the eligible New Zealand investment portion may count in certain fund structures.
4. Bonds
Qualifying bonds are another option under Balanced.
However, not every bond product is eligible. The investment must satisfy the applicable immigration criteria, including the requirements concerning the issuer, investment structure and qualifying New Zealand exposure.
Investors should confirm the precise eligibility of the proposed bond before purchasing it.
5. Property developments
Property development investments are permitted under Balanced, subject to specific conditions.
Eligible developments can include:
- New residential developments.
- New commercial developments.
- New industrial developments.
- Existing commercial property developments.
- Existing industrial property developments.
The investment must meet Immigration New Zealand’s property development criteria. Simply purchasing an existing residential property for personal use or rental income does not automatically qualify.
The purpose and structure of the investment matter.
For qualifying developments, investors should establish that their funds are genuinely committed to the development and are being used to finance development costs.
Additional requirements may apply when a development involves sensitive land under New Zealand’s overseas investment framework.
For that reason, property investors should obtain legal advice before committing funds, particularly where overseas investment consent may be required.
6. Philanthropy
The Balanced category also permits qualifying philanthropic investments.
The donation must satisfy the relevant eligibility requirements for the receiving charity or approved initiative.
Investors should obtain confirmation of the organisation’s status and appropriate evidence of the donation before treating it as part of their qualifying investment.
What Makes an Investment Acceptable for Immigration Purposes?
An investment must satisfy more than the asset-class description.
According to Immigration New Zealand, an acceptable investment must:
- Be made for investment purposes rather than the applicant’s personal use.
- Be invested in New Zealand.
- Be denominated in New Zealand dollars.
- Meet the specific criteria for the selected Growth or Balanced category.
- Continue to satisfy the applicable investment conditions throughout the required investment period.
Immigration New Zealand determines whether an investment is acceptable for immigration purposes at the time it is made.
For direct investments and managed funds under Growth, Invest New Zealand assesses the relevant opportunities against its criteria.
Importantly, government acceptance does not mean the investment is guaranteed, insured or protected against losses.
I strongly recommend obtaining independent financial and legal advice before committing substantial capital. Immigration eligibility and investment suitability are separate questions, and both deserve proper consideration.
How Long Must You Keep Your Investment in New Zealand?
Applicants must maintain their qualifying investments for the period associated with their selected category.
- Growth: At least NZD $5 million for 36 months.
- Balanced: At least NZD $10 million for 60 months.
The investment period generally starts when the nominated funds are invested in acceptable investments. If the investment was already made before approval in principle, Immigration New Zealand may calculate the period from the approval date.
When must the investment funds be transferred?
After receiving approval in principle, applicants generally have six months to transfer and invest their nominated funds in New Zealand.
The funds must be transferred through an acceptable and traceable banking arrangement.
Immigration New Zealand allows certain transfer arrangements involving the applicant’s personal bank account, an eligible joint account with an included partner or dependent child, or specified third-party arrangements such as a solicitor’s trust account.
The funds must correspond to the assets nominated in the application or the proceeds from the sale of those nominated assets.
A further transfer period may be available in certain circumstances, but applicants should contact Immigration New Zealand before the original deadline expires and demonstrate reasonable steps taken to complete the investment.
Can you change your investment during the required period?
Yes. Investors may change their acceptable investments during the investment period, subject to the applicable requirements.
If an investment is sold or returned, the applicant generally needs to reinvest the original amount, less any losses, into another acceptable investment.
The applicable reinvestment timeframe depends on the investment type:
- Direct investments and qualifying managed funds: generally 90 days.
- Listed equities, philanthropy, property developments and bonds: generally 30 days.
Special rules and exceptions apply. Investors should obtain confirmation before selling or transferring an investment.
What investment reporting is required?
Immigration New Zealand requires evidence that the nominated funds remain invested in New Zealand.
The reporting milestones are:
Growth category
- At 24 months.
- At 36 months.
Balanced category
- At 24 months.
- At 60 months.
Evidence must generally be submitted within three months of the relevant milestone.
Depending on the investment type, supporting documents may include:
- Company register extracts.
- Fund manager confirmation letters.
- Investment portfolio holding reports.
- Transaction and trade reports.
- Charity donation confirmations.
- Property development progress and funding evidence.
Applicants should also complete the required post-investment questionnaires at the relevant reporting stages.
Maintaining accurate investment records throughout the investment period is essential.
How Much Time Must You Spend in New Zealand?
The Active Investor Plus Visa has physical presence requirements.
Under the 2026 settings:
- Growth: At least 21 days in New Zealand during the 36-month investment period.
- Balanced: At least 105 days in New Zealand during the 60-month investment period.
There is an additional flexibility for Balanced investors.
For every additional NZD $1 million invested in acceptable Growth category investments, excluding philanthropy, the required time in New Zealand can be reduced by 14 days, up to a maximum reduction of 42 days.
This means a qualifying Balanced investor may reduce the standard 105-day requirement to as little as 63 days by investing an additional NZD $3 million in eligible Growth investments.
The additional investment must be nominated before approval in principle and remain invested in New Zealand throughout the applicable 60-month investment period.
This is an important consideration for investors who intend to maintain substantial international business or family commitments while establishing residence in New Zealand.
Who Can Apply for the Active Investor Plus Visa?
The Active Investor Plus Visa is intended for investors who can demonstrate the required investment capital and meet New Zealand’s immigration requirements.
The principal applicant must:
- Have sufficient funds to meet the relevant investment threshold.
- Demonstrate that the funds were earned or acquired lawfully.
- Transfer the nominated investment funds to New Zealand.
- Meet the applicable health requirements.
- Meet the character requirements.
- Satisfy the fit and proper person requirements.
The fit and proper person requirement includes compliance with relevant business, immigration, employment and taxation laws. Immigration New Zealand also considers matters such as business fraud, financial impropriety and dishonesty convictions.
Can you include your spouse and children?
Yes. Applicants can include an eligible partner and dependent children aged 24 or younger in their residence application.
However, family members must satisfy the applicable relationship and dependency requirements.
For a partner, Immigration New Zealand generally requires evidence that the relationship is genuine and stable and that the couple have been living together for at least 12 months.
For dependent children, applicants may need to provide:
- Birth certificates.
- Custody or guardianship documents, where applicable.
- Evidence of financial dependency for children aged 21 to 24.
If a partner or dependent child already holds, or has applied for, a New Zealand temporary visa based on their relationship with the principal applicant, they must be included in the residence application.
Family members included in the application must also satisfy the relevant health and character requirements.
What Documents Are Needed for an Active Investor Plus Application?
Preparing evidence of the investment funds is often one of the most demanding parts of the application.
Immigration New Zealand requires applicants to demonstrate ownership of the nominated assets and establish that the money was legally earned or acquired.
The exact documentation depends on the source of wealth and proposed investment structure.
1. Identity and personal documents
Applicants should prepare:
- Valid passports or travel documents.
- Required passport photographs.
- Birth certificates, where relevant.
- Marriage or civil union certificates, where applicable.
- Evidence of a genuine and stable partnership.
- Documents establishing dependent children’s eligibility.
2. Evidence of lawful source of funds
The source-of-funds evidence must establish how the investment capital was accumulated.
Depending on the circumstances, documents may include:
- Personal income tax returns.
- Employment records and payslips.
- Business financial statements.
- Company ownership records.
- Dividend statements.
- Property sale agreements and receipts.
- Bank certificates and transaction statements.
- Share trading records.
- Gift documentation.
- Probate documents and inheritance records.
Gifted funds may qualify if the gift is unconditional and lawful and the original funds were legally earned or acquired. Additional restrictions apply to gifted funds that have previously been in New Zealand.
3. Investment documentation
The supporting documents depend on the chosen asset class.
| Investment type | Typical supporting evidence |
| Direct investments | Bank transfer records, company register extracts, investment approval and shareholder agreements |
| Managed funds | Bank statements and legally binding fund agreements |
| Listed equities | Portfolio statements, trade reports and transaction records |
| Bonds | Investment portfolio and holding reports |
| Philanthropy | Donation confirmation and evidence of the organisation’s eligibility |
| Property developments | Investment agreements, transfer evidence, property documentation and development progress records |
4. Financial transfer records
Applicants must demonstrate that their funds were transferred to New Zealand through acceptable banking channels.
International bank transfers, including SWIFT or telegraphic transfers, can provide an auditable record.
Where an intermediary or foreign exchange provider is used, applicants should retain documentation showing that the transfer went through the banking system.
5. Health and character documents
Immigration New Zealand requires applicants to meet its health and character standards.
Depending on age and circumstances, police certificates may be required from countries where the applicant has citizenship or has lived for the relevant period.
Medical examinations and chest X-rays may also be required.
Documents not in English may require acceptable English translations. Applicants should check the current document requirements before submitting their application
Why Are Active Investor Plus Visa Applications Refused or Delayed?
Having sufficient investment capital does not guarantee approval.
From a practical immigration perspective, several issues can create significant difficulties
1. The investment does not meet the eligibility criteria
This is one of the most important risks.
An investment may be legitimate under New Zealand financial law but still fail to qualify under the Active Investor Plus immigration rules.
For example, an ordinary residential property purchase should not be treated as an eligible property development investment.
The proposed investment should be assessed before funds are committed.
2. The source of funds cannot be adequately established
Immigration New Zealand needs to understand how the applicant obtained the nominated investment funds.
Unexplained deposits, incomplete business records, inconsistent tax information or missing documentation can create concerns.
A clear financial history is particularly important for applicants whose wealth comes from multiple businesses, property transactions or inherited assets.
3. The investment funds cannot be traced
Applicants must demonstrate a clear connection between the assets nominated in their application, the funds transferred to New Zealand and the final qualifying investments.
Unclear transfers, undocumented intermediaries or discrepancies between bank statements can make verification difficult.
4. The applicant does not satisfy the fit and proper person requirement
Business-related misconduct, dishonesty convictions, financial impropriety or failures to comply with relevant legal obligations can affect eligibility.
Applicants should assess any potential concerns before submitting their application.
5. Family relationship evidence is insufficient
Where a partner or dependent children are included, the applicant must provide sufficient evidence of the relevant relationship.
For partners, proof of living together for at least 12 months is particularly important.
For children aged 21 to 24, financial dependency must be established.
6. Investment conditions are not maintained
An applicant may encounter problems after approval if the investment falls outside the acceptable criteria, funds are withdrawn or reporting obligations are missed.
Investors must understand their visa conditions throughout the entire investment period.
How Should Investors Choose Between Growth and Balanced?
The right category depends on an investor’s financial objectives, risk tolerance, investment experience and intended level of involvement in New Zealand.
Growth may be appropriate for investors who:
- Are comfortable with a higher-risk investment profile.
- Want exposure to New Zealand businesses.
- Can commit at least NZD $5 million.
- Prefer a shorter investment period of three years.
- Can meet the 21-day physical presence requirement.
Balanced may be appropriate for investors who:
- Prefer a wider selection of eligible asset classes.
- Want to consider listed equities, bonds or qualifying property developments.
- Can commit at least NZD $10 million.
- Are comfortable with a five-year investment period.
- Can meet the standard physical presence requirement or qualify for a reduction.
Neither category should be selected solely because it appears easier to qualify for.
Investors should consider the commercial structure, liquidity, tax consequences and long-term implications of each investment. New Zealand’s Inland Revenue Department provides guidance on tax residency and international tax obligations.
The investment strategy should be reviewed alongside the immigration application, not after the funds have already been committed.
Frequently Asked Questions About New Zealand's Active Investor Plus Visa
The minimum investment is NZD $5 million under the Growth category for 36 months or NZD $10 million under the Balanced category for 60 months.
Not simply by purchasing an existing residential property. The Balanced category permits qualifying property developments, including new residential developments, subject to Immigration New Zealand’s specific investment criteria.
Yes. Managed funds can qualify under both Growth and Balanced, provided they meet the applicable acceptance criteria. Growth managed funds must be on Invest New Zealand’s acceptable managed fund list.
Yes. Qualifying philanthropy is permitted under both categories. However, Growth investors cannot allocate more than 20% of their total investment to philanthropy. The receiving organisation and donation must meet the applicable requirements.
Yes, qualifying listed equities are available under Balanced. They are not generally eligible as a standalone asset class under Growth.
Qualifying bonds are permitted under Balanced. Investors should verify the issuer and investment structure against the current immigration criteria.
Growth investments must generally remain in place for 36 months, while Balanced investments must generally remain in place for 60 months.
Yes. Investors can change acceptable investments during the investment period, but must comply with the applicable reinvestment deadlines and requirements.
The current Active Investor Plus settings introduced in April 2025 removed the previous English language requirement. Applicants must still meet the other applicable immigration requirements.
Yes. Eligible partners and dependent children aged 24 or younger can be included in the principal applicant’s residence application, subject to the relationship and dependency requirements.
Growth investors may apply for a Permanent Resident Visa after completing the three-year investment period, provided all applicable visa conditions have been satisfied. Balanced investors generally complete a five-year investment period.
Planning Your New Zealand Investment Immigration Strategytor Plus Visa
The Active Investor Plus Visa provides international investors with an opportunity to establish residence in New Zealand while directing capital into qualifying New Zealand investments.
However, choosing the correct investment category, establishing lawful source of funds and maintaining compliance throughout the investment period require careful preparation.
At Simard & Associates, we help investors assess immigration pathways, understand investment eligibility requirements and prepare applications based on their individual circumstances.
If you are considering New Zealand’s Active Investor Plus Visa, contact Simard & Associates for a personal assessment. Our team can help you understand the available investment categories and the immigration requirements that apply to your circumstances.
Author: Mathieu Simard, Immigration Lawyer, Simard & Associates
Why you should choose Simard & Associates as your Immigration Lawyer?
Global mobility decisions deserve thoughtful analysis. If you’d like to explore your options further, our team can provide structured, expert guidance based on current policy and your long‑term objectives.
At Simard & Associates, we bring expertise, dedication, and a personalized approach to every immigration case. With a proven track record of success, we guide you through the complexities of immigration law with confidence and care. Our team is committed to providing tailored solutions, ensuring your application process is smooth, efficient, and stress-free. Whether you’re pursuing residency, citizenship, or visas, Simard & Associates is your trusted partner for achieving your immigration goals.
For more details & questions, Kindly contact us and one of our Immigration Consultant & Immigration Lawyers will respond to you.
Latest Immigration News
- All Posts
- Immigration News
- Latest News
- 最新动态
- 最新動態
- 未分类
- 未分類
- 移民新聞
- 移民新闻
Share this post:
GET IN TOUCH WITH US
Simard & Associates helps clients apply for citizenship and residence under the applicable programs. To schedule an initial consultation, get in touch with us.
GET IN TOUCH WITH US
Simard & Associates helps clients apply for citizenship and residence under the applicable programs. To schedule an initial consultation, get in touch with us.
