KĀHŪ PRIVATE / Guidance / Active Investor Plus Visa

The Active Investor Plus Visa
and Property in New Zealand

The Active Investor Plus visa opens two distinct property-related pathways in New Zealand. They are frequently confused. This guide explains both clearly, from primary government sources. It is general information only and is not legal or immigration advice.

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The Core Distinction

Two pathways.
Commonly confused.

The Active Investor Plus (AIP) visa requires its holders to invest a minimum sum in qualifying New Zealand assets. Those qualifying assets are primarily businesses, managed funds, listed equities, bonds, and certain property developments. The visa investment does not mean buying a home to live in.

Separately, from 6 March 2026, AIP visa holders gained access to a second pathway: the right to purchase one residential property for personal use, provided the purchase price exceeds NZ$5 million. This requires a separate application to the Overseas Investment Office. It is independent of, and in addition to, the qualifying investment required to hold the visa.

This distinction matters because the rules, costs, processing timelines, and conditions for each pathway are entirely different. Getting the two confused at the planning stage creates problems that are difficult and expensive to resolve later.

This article is general information only. It is not legal or immigration advice. The rules described reflect those published by Immigration New Zealand and Toitū Te Whenua as of May 2026. Before making any decisions, obtain independent advice from a New Zealand immigration lawyer and a New Zealand property lawyer.
The Two Pathways

Understood side by side,
the distinction becomes clear

Pathway One

The Visa Qualifying Investment

NZ$5M or NZ$10M

Minimum investment (Growth or Balanced category)

This is the investment that qualifies you for the Active Investor Plus visa. It must be made into acceptable investments as defined by Immigration New Zealand. These include direct investments in private New Zealand businesses, managed funds approved by Invest New Zealand, listed equities on the NZX, government and corporate bonds, philanthropy to registered charities, and certain property developments.

Property developments under this pathway are not homes for personal use. They must be new residential developments for multiple dwellings that will be sold or rented commercially, or new and existing commercial and industrial developments. You and your family cannot live in them.

The investment must be maintained for 36 months (Growth category) or 60 months (Balanced category). Application is made to Immigration New Zealand. Cost: from NZ$27,470.

Pathway Two

The Personal Home Purchase

NZ$5M+

Minimum purchase price for one residential property

This is a separate consent that AIP visa holders (as well as Investor 1 and Investor 2 visa holders) may apply for to purchase one residential property for personal use. It is not part of the visa investment and does not count toward the NZ$5M or NZ$10M visa threshold.

The property must be categorised as residential or lifestyle on the District Valuation Roll. It must not be "otherwise sensitive" (meaning it cannot be on an island, or adjacent to a beach, river, lake, or conservation area). Alternatively, land worth less than NZ$5 million may be purchased to build on, provided the combined land and construction cost exceeds NZ$5 million.

Application is made separately to the Overseas Investment Office, not Immigration New Zealand. Application fee: NZ$2,040 (existing dwelling) or NZ$3,500 (other cases). Assessed under the national interest test, not the commitment to reside test. No residency condition is attached to this consent.

The Visa Investment in Detail

What qualifies as an
acceptable investment

Growth & Balanced

Direct Investments

Investments into privately held New Zealand businesses, made directly by the investor. Must be approved by Invest New Zealand. Typically involves taking an equity stake in a New Zealand company that is not listed on a public exchange. The investor must have direct or beneficial ownership of shares.

Growth + Balanced

Growth & Balanced

Managed Funds

Funds that invest in various assets on the investor's behalf. For the Growth category, the managed fund must appear on the acceptable managed fund list maintained by Invest New Zealand. For the Balanced category, the fund may also hold acceptable listed equities, bonds, or property development investments.

Growth + Balanced

Balanced Only

Listed Equities

Shares or ETFs in companies listed on the New Zealand Stock Exchange, or offered through an FMA-licensed crowdfunding provider, or equities in a New Zealand registered bank. Only the proportion of a fund invested in New Zealand counts toward the acceptable investment threshold.

Balanced only

Balanced Only

Bonds

Debt issued by the New Zealand government, local authorities, or New Zealand resident companies with at least a BBB- credit rating from an internationally recognised credit rating agency. New Zealand registered banks also qualify. Issued and traded on the New Zealand Debt Securities Market (NZDX).

Balanced only

Balanced Only

Philanthropy

Donations to New Zealand registered charities with at least two years of annual financial returns and current Inland Revenue donee status. Unlike other investment types, these funds are not returned to the investor at the end of the investment period.

Balanced only

Balanced Only

Property Developments

New residential, commercial, or industrial property developments, or existing commercial and industrial developments undergoing material improvement. Residential developments must be for multiple dwellings, sold or rented commercially. The investor and their family cannot live in these properties.

Balanced only

"The visa investment and the personal home purchase are two separate processes. Understanding that distinction before planning begins avoids significant complications later."

KĀHŪ PRIVATE

What Buyers Need to Know

Conditions, timelines,
and practical steps

Visa processing takes up to three months

Immigration New Zealand processes 80% of AIP visa applications within three months of receiving a complete application. Once approved in principle, the investor has six months to transfer their nominated investment funds to New Zealand. The investment period (36 or 60 months) begins when the funds are invested, not when the visa is granted.

Time in New Zealand requirements differ by category

Growth category holders must spend a minimum of 21 days in New Zealand as a resident visa holder during the 36-month investment period. Balanced category holders must spend a minimum of 105 days over the 60-month investment period. This requirement can be reduced by 14 days for each additional NZ$1 million invested in Growth category acceptable investments, up to a maximum reduction of 42 days (bringing the minimum to 63 days for a NZ$13 million balanced investment).

Permanent residency is available after the investment period

AIP visa holders who meet all conditions at the end of their investment period are eligible to apply for a Permanent Resident Visa. This can be applied for after at least 24 months of holding a resident visa, provided the section 49 conditions (requiring evidence that investment conditions have been met) are satisfied and removed. The permanent resident visa allows indefinite travel in and out of New Zealand.

The personal home purchase application goes to LINZ, not Immigration NZ

Applications to purchase a residential property under the NZ$5M plus pathway are made to the Overseas Investment Office (part of Toitū Te Whenua), not to Immigration New Zealand. The two organisations are separate. A sale and purchase agreement must be conditional on OIO consent. The application fee is NZ$2,040 for a property with an existing dwelling, or NZ$3,500 in other cases, including new builds. Applications are assessed under the national interest test.

Sensitive land is excluded from the NZ$5M home pathway

The NZ$5M residential property pathway does not apply to land that is "otherwise sensitive." This includes land on an island, adjacent to a beach, river, or lake, or next to a reserve or conservation area. Many of New Zealand's most desirable waterfront and coastal properties fall into this category. Such properties require a different consent pathway under the Overseas Investment Act, which involves a more complex and lengthy assessment process. Identifying a property's sensitivity status early is essential.

Discretionary Investment Management Services (DIMS) are no longer acceptable

From 4 December 2025, Discretionary Investment Management Services are no longer an acceptable investment under the Active Investor Plus visa for any new application. Investors who used DIMS before that date retain their acceptable status for existing invested funds. This change affects how some applicants who had planned to use DIMS providers will need to structure their visa investments going forward.

This guide reflects rules current as of May 2026

Immigration policy and the Overseas Investment Act are both subject to change. The information in this guide reflects the rules published by Immigration New Zealand and Toitū Te Whenua as of May 2026. Independent legal and immigration advice should be obtained before any commitment is made. Links to the primary government sources used in this guide appear below.

Primary Sources

Information in this guide is drawn
from government sources

Immigration New Zealand Active Investor Plus Visa Immigration New Zealand Acceptable investments for an Active Investor Plus Visa Toitū Te Whenua, Land Information New Zealand Investing in residential land over $5 million (updated 27 March 2026) Toitū Te Whenua, Land Information New Zealand Buying residential property to live in (updated 6 March 2026)
Next Steps

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