by: Stephen Lowe, Partner
19 March 2026
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New Zealand’s Active Investor Plus (AIP) Visa is the country’s principal residency-by-investment pathway. It is designed to attract investors who can help New Zealand companies access global knowledge networks, capital, and markets, with the aim of boosting business productivity and job growth.
Under the current settings, the AIP visa offers two investment categories: Growth and Balanced.
The AIP visa is a resident visa, meaning holders can live and work in New Zealand indefinitely. The travel conditions allow holders to leave and re-enter New Zealand freely during the specified period. Once the travel conditions expire, the holder retains the right to live in New Zealand but must apply for a Permanent Resident Visa (or further travel conditions) to continue travelling in and out of the country.
The Growth category focuses on higher-risk, typically illiquid investments such as managed funds and direct investments in New Zealand businesses. These investments may require commitment extending beyond the minimum 36-month investment period. Both direct investments and managed fund investments under the Growth category must be approved by Invest New Zealand.
The Balanced category offers a broader range of asset classes, including lower-risk options such as bonds and property developments. Balanced category investors can reduce their physical presence requirement by investing additional funds in Growth-type investments: for each additional NZD $1 million so invested, the time required in New Zealand is reduced by 14 days, up to a maximum reduction of 42 days.
All investments must be made in New Zealand dollars, must not be for the applicant’s personal use, and must fall within the acceptable types for the relevant category. The two main investment types available under both categories are direct investments (investments into privately held New Zealand businesses, approved by Invest New Zealand) and managed funds (professionally managed funds on the acceptable list maintained by Invest New Zealand).
The Balanced category additionally permits: listed equities (shares or ETFs in NZX-listed entities); bonds (including New Zealand Government bonds, local authority bonds, and bonds issued by NZ registered banks or investment-grade NZ firms); philanthropy (donations to qualifying NZ registered charities); and property developments (new residential, commercial, or industrial developments that increase housing stock or improve existing commercial or industrial property).
Applicants must meet standard New Zealand immigration requirements relating to identity, health (medical examination and chest X-ray), and character (police certificates from all countries of citizenship and residence). Applicants must also satisfy a “fit and proper person” test, which requires compliance with immigration, employment, and taxation laws and the absence of any involvement in business fraud or financial impropriety. Investment funds must have been lawfully earned or acquired, supported by documentary evidence. There is no English language requirement.
Applicants may include their partner and dependent children aged 24 and under in their application. Partners must demonstrate a genuine, stable relationship and at least 12 months of cohabitation. Children aged 21 to 24 must provide evidence that they remain financially dependent on the applicant. Newborn children born after the original application may also qualify for a Dependent Child Resident Visa supported by the investor.
The AIP visa costs from NZD $27,470 in government fees. Applications are submitted online.
If an application is approved in principle, the applicant has six months to transfer and invest the nominated funds in New Zealand. A further six-month extension may be granted where the applicant has taken reasonable steps to transfer and invest the funds. After approval in principle, applicants may apply for a Specific Purpose Work Visa to enter New Zealand and arrange the transfer of funds.
The average time for an application to be approved in principle is approximately 37 working days. 80% of approvals in principle are processed within four months.
Holders of an AIP resident visa must maintain their investment for the requisite period and provide evidence that funds have remained invested at 24 months and again at the end of the investment period (36 months for Growth, 60 months for Balanced). They must also complete post-investment questionnaires at the 24-month mark and at the end of the investment period.
Visa holders must also meet the applicable physical presence requirements. The minimum physical presence requirements are notably light (as few as 21 days over 3 years for Growth investors), meaning many investors may not trigger full New Zealand tax residency — although tax advice should be obtained on a case-by-case basis.
After holding an AIP resident visa for at least 24 months and meeting all visa conditions, applicants may apply for a Permanent Resident Visa, which permits indefinite travel in and out of New Zealand.
The pathway to New Zealand citizenship (by grant) typically becomes available after five years of residence. New Zealand permits dual citizenship.
AIP visa holders may purchase or build one residential property in New Zealand valued at more than NZD $5 million. This is a targeted exception to the general restriction on overseas buyers acquiring residential property.
Consent from the Overseas Investment Office (OIO) is required, with applications generally decided within five working days. This property purchase does not count as an acceptable investment for AIP visa purposes — it is in addition to the required qualifying investment.
Wynn Williams is one of New Zealand’s leading full-service law firms, established in 1859, with offices in Auckland, Christchurch, and Queenstown.
Wynn Williams is well positioned to assist prospective investors with the legal issues arising from an AIP visa application, including advising on qualifying investments, navigating OIO consent requirements for residential property purchases, and advising on related regulatory matters.
WWW.WYNNWILLIAMS.CO.NZ
