Active Investor Plus (AIP) Visa: The Ultimate Guide for 2026
Everything you need to know about New Zealand's Active Investor Plus visa programme including the April 2025 changes, $5M Growth and $10M Balanced categories, acceptable investments, and the pathway to New Zealand residency through investment.
New Zealand's Active Investor Plus (AIP) visa offers wealthy international investors a pathway to residency through significant investment in the New Zealand economy. Following major changes in April 2025, this guide covers everything you need to know about the current requirements, investment categories, and strategies for successful applications in 2026.
What is the Active Investor Plus Visa?
The Active Investor Plus visa is New Zealand's residency-by-investment programme designed to attract high-net-worth individuals who will contribute to economic growth through significant investments in productive assets. The programme was substantially revised in April 2025 to simplify requirements and attract more investors.
Key benefits of AIP residency:
- Permanent residency for you and your family (spouse, dependent children)
- Access to New Zealand healthcare and education systems
- Pathway to citizenship after 5 years
- Ability to live, work, and study in New Zealand
- No restrictions on business activities
- Visa-free travel to many countries (with NZ passport)
April 2025 Changes: What's New?
Immigration New Zealand introduced significant changes to the AIP visa from 1 April 2025:
| Aspect | Before April 2025 | After April 2025 |
|---|---|---|
| Minimum Investment | $15 million (with weighting system) | $5 million (Growth) or $10 million (Balanced) |
| Categories | Single weighted system | Two distinct categories: Growth & Balanced |
| Investment Period | 4 years | 3 years (Growth) or 5 years (Balanced) |
| Residence Requirement | 88 days over 4 years | 21 days (Growth) or 105 days (Balanced) |
Programme success: As of December 2025, Immigration NZ had received 491 applications under the new settings (400 Growth, 91 Balanced), representing $771 million in committed investment.
The Two Investment Categories
Growth Category ($5 Million)
The Growth category targets active investments that directly contribute to New Zealand's economic growth.
Requirements:
- Minimum investment: NZ$5 million
- Investment period: 3 years
- Residence requirement: 21 days in New Zealand over the 3-year period
- Investment focus: Higher-risk, growth-oriented assets
Acceptable investments:
- Direct investment in New Zealand businesses
- Venture capital and private equity funds
- Listed equities on NZX or ASX (of NZ-incorporated companies)
- Managed funds investing in qualifying NZ assets
Balanced Category ($10 Million)
The Balanced category allows more conservative investment strategies with a mix of growth and lower-risk assets.
Requirements:
- Minimum investment: NZ$10 million
- Investment period: 5 years
- Residence requirement: 105 days in New Zealand over the 5-year period
- Investment flexibility: Can include bonds and some property
Acceptable investments:
- All Growth category investments
- New Zealand government and corporate bonds
- Certain commercial property investments
- Philanthropic investments (limited percentage)
Acceptable Investment Types
Direct Business Investment
Investing directly into New Zealand businesses that create jobs and economic value.
- Equity stakes in operating businesses
- Shareholder loans with qualifying terms
- Must be arms-length transactions (not family businesses)
Managed Funds
Investment through regulated fund managers into qualifying New Zealand assets.
- Private equity funds (e.g., Pioneer Capital, Movac)
- Venture capital funds (e.g., GD1, Icehouse Ventures)
- Private credit funds with NZ business lending
- Fund of funds specifically designed for AIP investors
Listed Equities
Shares in companies listed on the NZX or ASX that are incorporated in New Zealand.
- Must be NZ-incorporated companies
- Includes companies dual-listed on NZX and ASX
- Growth companies preferred over stable utilities
Bonds (Balanced Category Only)
- New Zealand government bonds
- Local authority bonds
- Corporate bonds from NZ issuers
What's NOT Acceptable
- Residential property investment
- Bank deposits and term deposits
- Foreign assets (even if NZ-managed)
- Passive forestry rights
- Personal use assets (cars, boats, art)
- Investment in your own business (not arms-length)
Other Eligibility Requirements
Beyond the investment threshold, applicants must meet:
Character Requirements
- Police certificates from all countries lived in 5+ years since age 17
- No serious criminal convictions
- Not be a security risk
Health Requirements
- Medical certificate from approved physician
- Chest X-ray (depending on country of origin)
- Must not impose undue cost on NZ health system
English Language
- Principal applicant must demonstrate basic English proficiency
- IELTS 3.0 or equivalent, OR
- English-language secondary school qualification
Business Experience
- 3+ years business experience relevant to investment activities
- Can include senior management, board membership, or ownership
- Investment banking, fund management, or professional investing experience
Application Process
- Expression of Interest (EOI): Submit EOI through Immigration Online
- Invitation to Apply: If EOI is selected, receive Invitation to Apply (ITA)
- Full Application: Submit complete application with evidence within 4 months
- Verification: Immigration NZ verifies funds, character, health
- Resident Visa: If approved, granted 12-month resident visa
- Transfer Funds: Must transfer and invest funds within 12 months
- Maintain Investment: Hold qualifying investments for 3/5 years
- Permanent Residence: Apply for permanent resident visa after meeting conditions
AIP-Focused Fund Managers
Several New Zealand fund managers offer products specifically designed for AIP investors:
- Alvarium: Bespoke investment strategies for AIP Growth/Balanced categories with 25+ years experience
- Greener Pastures New Zealand: Diversified fund across PE, VC, and private credit specifically for AIP holders, plus kiwifruit fund
- Craigs Investment Partners: Discretionary account providing diversified managed fund portfolio
- Forsyth Barr: Personalised "fund of funds" approach for wholesale investors
- JMI Wealth: Bespoke diversified fund of funds for AIP requirements
2026 Update: Property Purchase Rights
Recent amendments to the Overseas Investment Act 2005 will enable AIP visa holders to purchase or build a house in New Zealand valued at more than NZ$5 million. These changes are expected to come into force in early 2026, providing additional lifestyle benefits for successful applicants.
Common Mistakes to Avoid
1. Non-Qualifying Investments
Investing in assets that don't meet Immigration NZ criteria. Always confirm with your immigration adviser before committing funds.
2. Timing Issues
Investments made before receiving your resident visa may not count. Funds must typically be transferred and invested AFTER visa approval.
3. Insufficient Documentation
Failing to provide clear evidence of funds source, business experience, or investment structure.
4. Ignoring Residence Requirements
Even the Growth category requires 21 days in New Zealand over 3 years. Plan for regular visits.
Costs and Timeline
| Item | Estimated Cost |
|---|---|
| Immigration application fee | $4,745 |
| Immigration adviser fees | $15,000-$50,000 |
| Legal and tax advice | $20,000-$50,000 |
| Medical and police certificates | $1,000-$3,000 |
| Fund manager fees | 1-2% p.a. of invested amount |
Timeline: Expect 6-12 months from EOI to visa approval, depending on complexity and Immigration NZ processing times.
Conclusion
The Active Investor Plus visa represents a significant opportunity for wealthy international investors seeking New Zealand residency. The April 2025 changes have made the programme more accessible with lower thresholds and clearer categories.
Key success factors:
- Start planning 12-18 months before application
- Engage licensed immigration advisers early
- Work with experienced NZ fund managers for compliant investments
- Document everything thoroughly
- Plan for residence requirements—NZ lifestyle should be part of your goal
Disclaimer: This guide is for general information only and does not constitute immigration or investment advice. Requirements may change. Always consult licensed immigration advisers and authorised financial advisers before making decisions.