Active Investor Plus: The Two Investment Tracks

Since 1 April 2025, New Zealand’s Active Investor Plus (AIP) visa has been radically simplified: the threshold dropped from NZD $15 million (weighted), the English requirement was removed, and the visa split into Growth and Balanced categories. For well-capitalised families this is the most direct residence route available.

1. Growth vs Balanced

Dimension	Growth	Balanced
Minimum investment	NZD $5 million	NZD $10 million
Investment term	3 years (36 months)	5 years (60 months)
Acceptable investments	Managed funds, direct investments in NZ businesses, philanthropy (≤20%)	All of those plus bonds, listed equities, property developments (new residential, new or value-adding commercial/industrial)
Time in NZ	21 days over 3 years	105 days over 5 years
Day reduction	None	−14 days per extra NZD $1M in Growth-type assets, down to 63 days at NZD $13M
Application fee	NZD $27,470	NZD $27,470

Rules common to both:

• No English requirement, no age limit, no settlement-funds requirement;
• Partner and dependent children can be included (family must enter within 12 months of grant);
• After approval in principle you have 6 months to transfer and invest, with a one-off 6-month extension;
• You can switch category once: before approval in principle, or within 6 months after it;
• Evidence of continued investment is due at 24 months and at expiry (within 3 months of each date);
• After the compliant term (3 or 5 years) you can apply for a PRV;
• Processing averages 36 working days once investment documentation is complete.

On-call investment rules (from June 2025): funds committed to managed funds may sit at most 25% in bank accounts or term deposits at any time; the remaining 75% must be in listed equities or bonds.

2. Three points Chinese applicants must know

① QDII is not accepted. INZ is explicit: passive investments carrying repatriation obligations (QDII and similar) conflict with AIP’s “active and ongoing” objective. This contrasts with the Parent Retirement category, where QDII remains acceptable. AIP applicants need a compliant direct outbound transfer plan: design it with your bank and lawyer early.

② Property investment is narrowly defined. Balanced-category property investments must add housing stock (new residential developments) or add value (new or upgraded commercial/industrial projects, e.g. earthquake strengthening). Buying an existing home to live in or rent out does not count.

③ Plan for tax residency. A multi-year investment period can make you a NZ tax resident (taxed on worldwide income). Transitional concessions for new migrants have strict conditions: get professional tax advice before investing.

3. Versus the Business Investor Work Visa

For applicants below NZD $5 million who are willing to run a business hands-on:

Dimension	Active Investor Plus	Business Investor Work Visa
Investment	NZD $5M / $10M	NZD $1M (3-year work-to-residence) or NZD $2M (12-month fast track)
Status	Residence from day one	Work visa (up to 4 years) → residence after compliant operation
Operation	Passive investment fine	Must actively run the business; maintain 5 FTE jobs + create 1 new job for a NZ citizen/resident
Time in NZ	21 / 105 days	184 days per year
Age	No limit	55 or younger
English	None	IELTS 5.0 or equivalent
Other	No settlement funds	NZD $500k reserve funds + 3 years of business experience
Cost	NZD $27,470	NZD $12,380 (residence stage a further NZD $14,890)

Some business types are excluded (gambling, tobacco, fast food, franchises), and the business’s property value does not count toward the investment total.

4. Decision guide

• NZD $10M+, want simplicity: Balanced: lower-risk assets with 63–105 days of presence;
• NZD $5–10M, comfortable with risk: Growth: 3 years and 21 days is the lightest residence-presence combination in the system;
• NZD $1–5M with business experience: assess the Business Investor route, accepting 184 days a year in NZ;
• Every route: proof of lawful source of funds (tax returns, shareholding records, property sale receipts) is the core of assessment: start assembling the money trail 6–12 months ahead.

Policy details are governed by INZ and Invest New Zealand documentation. This article is not investment or immigration law advice.