New Zealand’s Reform of the Active Investor Plus Visa

A new policy model that links the attraction of wealthy individuals to growth investment by foreign capital

Key Points

After the April 2025 reform, applications increased sharply, reaching 904 by September 2, 2026, of which 467 had been approved.

The Growth category, with a minimum investment of NZ$5 million, emphasizes investments that contribute to New Zealand’s growth, such as direct investments and managed funds.

Further reforms have continued in 2026, with immigration policy and capital policy becoming increasingly integrated through measures related to transparency of the source of funds, supervision of investment destinations, and Build to Rent.

Attracting wealthy individuals is shifting from a policy of “bringing in people” to a policy of “bringing in capital”

Around the world, policies to attract wealthy individuals and family offices are advancing.

In Singapore, an ecosystem has been formed that attracts not only foreign capital but also financial talent, professional services, and investment opportunities through the concentration of family offices and asset management functions.

New Zealand is a country that is taking a different approach to attracting wealthy individuals and foreign capital.

At the center of that approach is the investor residence scheme known as the Active Investor Plus Visa (AIP).

In April 2025, the New Zealand government substantially revised this scheme. It simplified the previous framework and reorganized it into two categories, “Growth” and “Balanced,” setting the minimum investment amount at NZ$5 million for Growth and NZ$10 million for Balanced. The English language requirement was also removed.

What deserves attention is that the scheme is not designed merely as a “residence-by-investment scheme.”

Immigration New Zealand explains that the purpose of AIP is for investors to support companies’ access to global knowledge, networks, capital, and markets, thereby contributing to improved corporate productivity and job creation.

In other words, it is a policy that seeks to connect the migration of wealthy individuals and the inflow of foreign capital with investment in the domestic economy.

The NZ$5 Million “Growth” Category and the NZ$10 Million “Balanced” Category

The current AIP broadly offers two options.

The Growth category requires a minimum investment of NZ$5 million for 36 months. Eligible investments may include direct investments, approved managed funds, and certain philanthropy. Philanthropy is capped at 20% of the total investment amount.

The Balanced category, by contrast, requires a minimum investment of NZ$10 million for 60 months. In addition to direct investments and managed funds, a broader range of assets than in Growth may be eligible, including listed equities, bonds, and property development.

The residence requirements also differ.

Under Growth, investors must spend at least 21 days in New Zealand during the 36-month investment period. Under Balanced, the requirement is generally 105 days, but the required number of days can be reduced by making additional investments that qualify for the Growth category.

Applicants may also include their spouse and dependent children aged 24 or younger in the application. If the conditions are met, they may apply for a Permanent Resident Visa after three years under Growth and after five years under Balanced.

Accordingly, AIP is a scheme that may be considered not only from an investment perspective, but also in relation to residence, family, education, and long-term asset administration.

Applications Increased Sharply After the Reform

After the 2025 reform, use of the scheme increased substantially.