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The New Zealand Active Investor Plus Visa is the country's residency-by-investment route, rebuilt in April 2025 into two tracks: Growth, at NZD 5 million for 36 months, and Balanced, at NZD 10 million for 60 months. It offers residence with very low physical presence, no English test, and a path to permanent residence and citizenship.

What Is the New Zealand Active Investor Plus Visa?

The Active Investor Plus Visa (AIP) is New Zealand's residency-by-investment programme, often called its golden visa. It grants a resident visa that lets the holder invest, live, work, and study in New Zealand, with a path to permanent residence and eventually citizenship.

Administered by Immigration New Zealand, the visa was substantially rebuilt in April 2025. That reform replaced the former Investor 1 and Investor 2 categories, scrapped the old NZD 15 million weighted model, and reorganized the programme around one principle: active, productive capital rather than passive wealth parking. The result is a simpler two-track structure that this guide walks through in full, including the 2026 updates that have widened it further.

How Do the Growth and Balanced Categories Work?

The programme runs on two tracks that differ in cost, holding period, asset mix, and how much time you must spend in the country. Growth is the lower-capital, higher-risk, lower-presence track; Balanced asks for more capital over a longer period but allows a wider, more diversified portfolio.

Growth suits investors comfortable with active, illiquid holdings and a globally mobile lifestyle, since it asks for just 21 days in the country over three years. Balanced suits those who want broader diversification, including bonds and property developments, and can commit capital for five years. A useful detail: Balanced investors can cut the presence requirement by 14 days for every extra NZD 1 million placed in Growth-eligible assets, up to 42 days.

How Long Is the Visa, and What Is the Path to Citizenship?

The Active Investor Plus Visa is granted as a resident visa, so from the day it is activated the holder can live, work, and study in New Zealand indefinitely. What is time-limited is the travel facility attached to it, and this is where the two tracks differ. Growth resident visas carry travel conditions for four years; Balanced resident visas carry them for six years. During that window the holder can leave and re-enter New Zealand freely, provided they keep meeting the visa conditions.

The route from resident visa to citizenship runs in four clear stages, and it is worth understanding before choosing a track because the residency period and reporting obligations differ by category.

• Stage 1, resident visa: granted with section 49 conditions and travel rights for 4 years (Growth) or 6 years (Balanced). You hold the qualifying investment, meet the physical presence minimum of 21 days over 3 years (Growth) or 105 days over 5 years (Balanced), and pass compliance checks at 24 months and at the end of the investment period.
• Stage 2, remove conditions: after the full investment period, 36 months for Growth or 60 months for Balanced, and once presence and reporting are satisfied, you apply to remove the section 49 conditions. There is no fee for this step.
• Stage 3, Permanent Resident Visa: with conditions removed, you and your included family can apply for a Permanent Resident Visa, which carries indefinite travel rights and no ongoing stay requirement. Permanent residents can live, work, and study in New Zealand for life.
• Stage 4, citizenship: citizenship is a separate process governed by nationality law, not part of the visa itself. Applicants generally qualify after about five years of holding permanent residence, with roughly 1,350 days of physical presence in New Zealand, plus character and English-language requirements.

Two practical points follow. First, the residency period is track-specific: Growth reaches the permanent-residence stage in three years, Balanced in five. Second, New Zealand permits dual citizenship, and New Zealand citizens automatically qualify for Australia's Special Category Visa (subclass 444), which allows them to live and work in Australia. Permanent residents who are not yet citizens do not receive that Australian access, which is one reason some families carry the timeline all the way through to naturalization.

What Are the Acceptable Investments?

Each track has its own asset menu, and the distinction matters because placing capital in the wrong vehicle can invalidate an application. All qualifying investments must be assessed as acceptable, and managed funds must appear on Invest New Zealand's approved list.

Growth category investments cover direct investments in New Zealand businesses, approved managed funds, and, from 1 June 2026, philanthropy capped at 20 percent of the total. Balanced category investments add listed equities, bonds, and property developments that increase housing stock or add value, such as new residential, commercial, or industrial projects. Residential property bought for personal use does not count toward either threshold. A 2026 on-call option also lets committed capital sit temporarily in bonds, term deposits, listed equities, or bank accounts for up to six months before transferring into managed funds.

Is the Investment Safe or at Risk?

The invested capital is at genuine risk, and being clear about this matters more than any marketing line. The Active Investor Plus investment is not a fee and not a refundable deposit; it is your own money placed in New Zealand assets, and it remains yours, subject to investment performance.

Growth-track assets are deliberately higher-risk and often illiquid, including venture capital, direct business stakes, and growth-stage managed funds. Invest New Zealand assesses whether an investment is acceptable for visa purposes, but that assessment is a compliance check, not an endorsement of commercial quality, and the government guarantees no returns. After the 36 or 60-month holding period, the capital and any gains or losses are yours to withdraw or reinvest. Investors should carry out independent due diligence on any fund or business before committing.

How Much Does the Active Investor Plus Visa Cost?

Beyond the qualifying investment itself, the direct government cost is modest relative to the capital committed. The Immigration New Zealand application fee starts from NZD 27,470, with additional immigration levy, due diligence, legal, and fund set-up costs that vary by case.

The application fee is not refunded if the application is declined, which is why confirming eligibility and preparing a clean source-of-funds file before filing is worth the effort. The qualifying investment sits in a different category entirely: it is capital you retain, not money spent.

How Do You Apply Step by Step?

The application is made directly online through Immigration New Zealand, with no expression-of-interest lottery stage. The sequence is straightforward, though the source-of-funds review is demanding.

• Confirm which category, Growth or Balanced, fits your capital and presence goals.
• Assemble source-of-funds evidence: tax returns, audited financials, share or property sale records, and estate or gift documents.
• Submit the online resident visa application with nominated funds, identity, and supporting documents in PDF.
• Receive approval in principle, which Immigration New Zealand reports for about 80 percent of cases within roughly 10.5 weeks.
• Transfer and place the funds into acceptable investments within the required timeframe.
• Provide evidence the investment is made, after which the resident visa is granted.
• Maintain the investment and meet the presence requirement across the 36 or 60-month period, then apply for permanent residence.

Because Immigration New Zealand makes all decisions while Invest New Zealand assesses acceptable investments, coordinating both workstreams early is what keeps the timeline tight.

What Are the Tax Implications?

New Zealand is more tax-friendly for new migrants than many expect, though the detail requires professional advice. New migrants who have not been New Zealand tax residents in the previous 10 years usually qualify as transitional residents, which exempts most foreign-source income from New Zealand tax for about four years.

During that window, foreign dividends, interest, rental income, and most other passive foreign income sit outside New Zealand tax, while New Zealand-source income and foreign employment income remain taxable. New Zealand also has no general capital gains tax, no inheritance tax, and no wealth tax, although a bright-line rule taxes gains on residential investment property sold within a short window. Tax residency itself is triggered by 183 days of presence in any 12-month period or a permanent place of abode. Because Â鶹ԭ´´ does not provide tax advice, and because rules such as the foreign investment fund regime apply once the transitional window ends, early guidance from a New Zealand tax specialist is essential. General information is available from .

Can You Bring Your Family and Buy a Home?

Yes to both, within defined rules. Your partner, whether spouse or de facto, and dependent children can be included in the application and receive residence, and a 2025 change lets newborn children of investors qualify for a Dependent Child Resident Visa.

On property, a March 2026 amendment to the Overseas Investment Act lets Active Investor Plus visa holders, including those based overseas, purchase or build one residential property valued at NZD 5 million or more for personal use. This is separate from the qualifying investment; the home does not count toward the NZD 5 million or NZD 10 million threshold. For families weighing a long-term base, the low presence requirement and the strength of New Zealand schooling and healthcare are often as decisive as the investment terms.

How Does It Compare to Other Golden Visas?

New Zealand's entry cost is higher than several well-known programmes, but it competes on stability, mobility, and lifestyle rather than price. The comparison below sets it against two common alternatives for globally mobile investors.

The honest positioning: New Zealand is not the cheapest route to a second residence, and it channels capital into active, at-risk assets rather than passive real estate. What it offers in return is a stable, well-governed base, a very light presence requirement, a strong passport, and a favorable tax runway for new arrivals. For a fuller menu of options, see our citizenship by investment guide and our overview of the cheapest citizenship by investment programs.

What Are the Common Mistakes to Avoid?

Most Active Investor Plus problems trace back to a handful of avoidable errors, several of them rooted in outdated information.

• Relying on the old NZD 15 million weighted model, which was removed in April 2025.
• Treating a personal home as a qualifying investment; it is not, though a separate NZD 5 million-plus purchase is now allowed.
• Underestimating source of funds, which is the most demanding and most delayed part of the process.
• Assuming the capital is guaranteed; Growth-track assets are illiquid and at genuine risk.
• Expecting fast citizenship; permanent residence comes first, and naturalization is a separate five-year path.
• Overlooking the transitional tax window, which is best structured with advice before you become a tax resident.

Sergey Voinich, Founder and Managing Partner at Â鶹ԭ´´, notes: "The applications that move quickly are the ones where the source-of-funds story is documented before anyone touches an application form. Investors focus on choosing a fund, but the real work is proving where the capital came from in the format Immigration New Zealand expects. Get that right first and the rest follows."

Frequently Asked Questions

How Much Do You Need for the New Zealand Active Investor Plus Visa?

The minimum is NZD 5 million under the Growth category, held for at least 36 months, or NZD 10 million under the Balanced category for at least 60 months. The old NZD 15 million weighted model was removed in April 2025. The capital is invested in approved New Zealand assets and remains your property, at investment risk, rather than a fee paid to the government.

What Is the Difference Between Growth and Balanced?

Growth requires NZD 5 million for 36 months in higher-risk, illiquid assets: direct business investments, approved managed funds, and up to 20 percent philanthropy. Balanced requires NZD 10 million for 60 months but allows a wider menu, adding listed equities, bonds, and property developments. Growth asks for 21 days of presence over three years; Balanced asks for 105 days over five.

How Long Does the Application Take?

Immigration New Zealand reports that about 80 percent of approval-in-principle decisions are made within roughly 10.5 weeks, though complex source-of-funds cases take longer. There is no expression-of-interest lottery. After approval in principle, you transfer and place the funds, and the resident visa is granted once the investment is confirmed.

How Much Time Must You Spend in New Zealand?

Growth category investors need just 21 days in New Zealand across the entire 36-month period. Balanced investors need 105 days over 60 months, reducible by 14 days for each additional NZD 1 million placed in Growth-eligible assets, up to a maximum reduction of 42 days. These are among the lowest presence requirements of any investor visa globally.

Does the Visa Lead to Citizenship?

It leads to permanent residence first, then citizenship. After holding the qualifying investment for the required period, you can apply for a Permanent Resident Visa. New Zealand citizenship by naturalization generally requires five years of lawful permanent residence with roughly 1,350 days of physical presence. New Zealand permits dual citizenship and holds one of the world's strongest passports.

Is the Invested Money at Risk?

Yes. The Active Investor Plus investment is capital placed in New Zealand assets at genuine risk, not a refundable deposit or a fee. Growth-track assets in particular are higher-risk and often illiquid, and the government does not guarantee returns. After the holding period, the capital and any gains or losses are yours to withdraw or reinvest.

How Â鶹ԭ´´ Helps

Â鶹ԭ´´ advisors guide entrepreneurs, family offices, and globally mobile investors through the Active Investor Plus process where it actually gets complex: choosing between Growth and Balanced, building a source-of-funds file in the format Immigration New Zealand expects, coordinating with Invest New Zealand on acceptable investments, and sequencing the residency and relocation timeline. We work from primary sources and handle the application end to end, so a strong capital position turns into a New Zealand resident visa without avoidable delays.