Introduction
The Active Investor Plus Visa (often shortened to AIP visa) is New Zealand’s residence-by-investment programme, sometimes nicknamed the country’s “Golden Visa.” It allows a non-New Zealand resident to obtain a pathway to New Zealand residency by making a qualifying investment of as little as NZD5 million under the Growth Category. Applicants can also qualify under a Balanced category, which requires at least NZD10 million.
The programme was substantially reworked in 2025. One of the most significant developments in New Zealand’s immigration settings in 2025 was the introduction of the Active Investor Plus visa as the country’s revised residency-by-investment regime. The government introduced two simplified investment categories, Growth and Balanced, with a minimum investment requirement of NZD5 million for Growth category investors and NZD10 million for Balanced category investors, effective from April 1, 2025.
Interest from offshore investors has been strong. As of 15 December 2025, 491 applications had been received under the new settings, covering 1,571 applicants, with 400 in the Growth category and 91 in the Balanced category, representing a potential total minimum investment of NZD2.91 billion.
New Zealand Active Investor Plus Visa: Key Facts
- Length of Stay: Live, work and study indefinitely
- Minimum Cost: From NZD $27,470
- Processing Benchmark: 80% approved in principle within 10.5 weeks
- Family Included: Partner and dependent children aged 24 or younger
- Path to Permanent Residence: 3 years (Growth) or 5 years (Balanced)
Active Investor Plus Visa Criteria: Growth vs. Balanced
Understanding the criteria for each investment category is essential before starting an application.
Growth Category — NZD $5 million minimum investment
- Funds must stay invested in acceptable investments for at least 36 months
- Acceptable investments can include direct investments, managed funds, or philanthropy (capped at 20% of the total invested)
- Applicants must spend at least 21 days in New Zealand as a resident visa holder during the 36-month period
Balanced Category — NZD $10 million minimum investment
- Funds must remain invested for at least 60 months
- Acceptable investments can include direct investments, managed funds, listed equities, philanthropy, bonds, or property developments
- Applicants must spend at least 105 days in New Zealand during the 60-month period
Good to know: Balanced category investors aren’t locked into a fixed physical-presence requirement. For every extra NZD $1 million invested in qualified Growth category investments (excluding charitable contributions), the required time in New Zealand can be reduced by 14 days — up to a maximum reduction of 42 days.
General Eligibility Criteria
Beyond the investment thresholds, every applicant must satisfy the following core criteria:
- Be a fit and proper person
- Transfer the nominated investment funds to New Zealand
- Have earned or acquired the investment funds lawfully
- Be in good health, confirmed through a chest X-ray and medical examination
- Be of good character, which requires police certificates from every country of citizenship and any country lived in for 12 months or more within the last 10 years
Barrier removed: The English language requirement has been removed, making the visa more accessible to a broader range of investors.
Investment Rules Investors Should Watch Closely
The rules governing acceptable investments have been refined more than once since the visa’s 2025 relaunch, so applicants should check the latest settings before committing funds.
- At least 75% of committed investments must be held in listed equities or bonds, and no more than 25% may be held in a New Zealand bank account (including cash accounts) or term deposits — a tightening of the earlier rule that allowed up to 100% of funds to sit in cash or term deposits for up to six months.
- An “on-call investments” option allows funds committed to managed investments to be temporarily placed in acceptable assets — bonds, term deposits, listed equities, and bank accounts — for up to six months before being transferred into managed funds.
- Growth Category funds go through a pre-approval process, and once listed on Invest New Zealand’s Acceptable Managed Funds List (maintained by NZTE), investments into those funds qualify as approved investments for the visa.
- Most pre-approved funds are structured as New Zealand limited partnerships managed by asset managers spanning private equity, venture capital, private credit, and infrastructure.
Property Rules for Visa Holders
There’s another development related to residential property that stands apart from the rest. Recent amendments to the Overseas Investment Act 2005 are expected to let Active Investor Plus visa holders buy or build a house in New Zealand valued at more than NZD5 million, with these changes expected to take effect in early 2026.
Consent under the Overseas Investment Act must be obtained before the purchase, any purchase agreement must be conditional on that consent, and while such a property purchase is permitted for personal or family use, it will not itself count as an acceptable investment for visa purposes.
Tax Considerations
Because the physical presence requirement is relatively light, many applicants avoid becoming full New Zealand tax residents purely by holding the visa. Investors are only required to be physically present in New Zealand for a minimum of 21 days under the Growth Category over the three-year investment period, or a minimum of 105 days under the Balanced Category over the five-year period — meaning most investors can obtain the visa without becoming a New Zealand tax resident.
However, structure matters. Because most pre-approved funds are New Zealand limited partnerships, investors may still need to file New Zealand tax returns and pay New Zealand income tax on activities carried out by the partnership, though a foreign tax credit may be available in the investor’s home jurisdiction to help offset double taxation.
For official guidance on tax residency, see Inland Revenue — International Tax for Individuals.
What Industry Feedback Says So Far
One year into the revised settings, practitioners working directly with applicants and fund managers have summarised how the programme is performing in practice.
- Participants consistently highlighted New Zealand’s strong international appeal, driven by political stability, personal safety, institutional trust, and quality of life.
- Feedback pointed to the success of the revised settings in attracting highly experienced, globally connected and commercially sophisticated investors, along with positive views on the programme’s streamlined structure, flexibility, and efficient application process.
- The research also identified areas requiring ongoing attention — tax settings and their impact on long-term relocation decisions, liquidity and investment timeframe mismatches within some investment structures, and the need for continued governance, investor education, and ecosystem maturity.
Frequently Asked Questions
What is the minimum investment for the Active Investor Plus visa?
NZD $5 million under the Growth category, or NZD $10 million under the Balanced category.
How long does approval take?
Immigration New Zealand’s stated benchmark is that most applications reach approval in principle within roughly ten and a half weeks, though individual cases can vary depending on the complexity of the supporting evidence.
Do I need to speak English to qualify?
No. The English language requirement that applied to earlier investor visa versions has since been removed.
Can my family come with me?
Yes. You can include a partner and children aged 24 or younger in your application. If you have a newborn later, you can apply for a separate dependent child visa for them.
How many days must I spend in New Zealand?
At least 21 days over three years under the Growth category, or at least 105 days over five years under the Balanced category, with possible reductions for additional Growth-style investment above the Balanced minimum.
When can I apply for permanent residence?
After three years of maintaining the required investment under the Growth category, or five years under the Balanced category.
How Boman Group Can Help
Navigating the Active Investor Plus visa’s investment criteria, fund selection, and compliance timeline can be complex, especially for offshore investors unfamiliar with New Zealand’s financial and immigration systems. Boman Group offers dedicated advisory services to help investors plan and execute a suitable investment strategy for this visa. Our team works closely with applicants to:
- Assess eligibility and recommend the most suitable category, Growth or Balanced, based on individual investment goals and risk appetite
- Identify and evaluate acceptable investment options, including pre-approved managed funds, direct investments, bonds, and property developments
- Structure the transfer and investment of funds in line with Immigration New Zealand’s requirements and timelines
- Provide ongoing support throughout the investment holding period, including preparation for the 24-month and end-of-period reporting obligations
With a dedicated advisor guiding the process from initial planning through to permanent residence, Boman Group aims to make the Active Investor Plus visa journey clearer and more manageable for investors and their families.
Official Resources
- Immigration New Zealand — Visa applications, approval, and residence conditions.
- Invest New Zealand — Assesses and pre-approves eligible Growth Category investments .
- NZTE — Maintains the Acceptable Managed Funds List.
- Inland Revenue (IRD) — Guidance on New Zealand tax residency and international tax.
- Overseas Investment Office (LINZ) — Approves residential property purchases by visa holders under the Overseas Investment Act 2005.
Final Thoughts
New Zealand’s Active Investor Plus visa gives high-net-worth individuals a comparatively fast and flexible route to residence, provided the applicant can meet the investment thresholds, keep the funds committed for the required period, and satisfy the character, health, and source-of-funds criteria. Because investment rules, property settings, and reporting obligations continue to evolve, prospective applicants are generally advised to review the current Immigration New Zealand instructions and seek professional legal and tax advice before nominating funds or lodging an application.
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This article is for general informational purposes only and does not constitute legal, immigration, or financial advice. Requirements for the Active Investor Plus visa are set and updated by Immigration New Zealand; always confirm current criteria on the official government website before making investment or relocation decisions.
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