NZD 5M
Growth category min
21 days
Growth presence req (36 mo)
3-6 mo
Processing
5 yrs
To citizenship
New Zealand’s golden visa was substantially relaxed in 2025 — the Active Investor Plus Visa (AIPV) now offers genuinely attractive terms for HNW applicants who don’t need Schengen or EU access. The Growth-category physical-presence requirement was dropped from 117 days over 48 months to 21 days over 36 months (roughly 7 days per year average), putting AIPV on par with Portugal’s 7-days-per-year presence as one of the lightest-touch programmes globally.
This guide covers both Growth and Balanced categories, the 2025 reforms, and how AIPV compares to other Asia-Pacific and Americas-focused HNW programmes. For cross-programme context, see our 2026 golden visa countries ranking.
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The Two Investment Categories (Post-2025 Rules)
Growth Category (NZD 5,000,000)
Invest at least NZD 5 million (~USD 3M, ~EUR 2.76M) in acceptable “higher-risk” investments:
- Managed funds qualifying under the Growth list
- Direct investments in NZ-registered businesses
- Angel investments and venture capital in NZ startups
- Approved property developments (not personal-use homes)
Hold period: 36 months. Physical presence requirement: 21 days in NZ over those 36 months (~7 days per year). The Growth category is designed to channel capital into NZ’s productive economy rather than passive assets.
Balanced Category (NZD 10,000,000)
Invest at least NZD 10 million (~USD 6M, ~EUR 5.52M) in a broader range of acceptable investments:
- Listed equities on the NZX (NZ Stock Exchange)
- NZ government and investment-grade corporate bonds
- Approved managed funds (broader than the Growth list)
- Qualifying property developments
- Qualifying philanthropy contributions
- Direct investments in NZ businesses
Hold period: 60 months. Physical presence requirement: 105 days in NZ over those 60 months (~21 days per year). The Balanced category offers more flexibility on investment type but demands more residence.
Presence-Reduction Mechanism (Balanced Category Only)
Balanced-category applicants can reduce the 105-day physical presence requirement by 14 days for each additional NZD 1 million allocated to Growth-category investments (beyond the NZD 10M baseline). Maximum reduction: 42 days. So an applicant allocating NZD 10M to Balanced + NZD 3M to Growth would need only ~63 days in NZ over 60 months.
Processing Timeline
- Weeks 1–4: Engage NZ immigration counsel (NZD 15K–40K). Identify acceptable investments; most applicants work with licensed NZ investment advisers to construct the qualifying portfolio.
- Weeks 4–10: Submit Expression of Interest to Immigration New Zealand (INZ). INZ evaluates the application and may invite to apply formally.
- Months 3–5: Formal application. INZ due diligence: source-of-funds investigation, security screening, background checks on character.
- Months 5–6: Approval in principle. Applicant executes the qualifying investment with documented evidence.
- Month 6+: Resident visa granted. Physical presence clock starts from the visa grant date.
Total end-to-end: 3–6 months for a clean, well-prepared application. INZ processing speed has improved substantially since the 2025 reform.
NZ AIPV vs Australia NIV vs Singapore GIP
| Metric | 🇳🇿 NZ Active Investor Plus | 🇦🇺 Australia NIV |
|---|---|---|
| Minimum investment (cheapest track) | NZD 5M (~USD 3M) | $0 — achievement-based |
| Qualification basis | Financial (capital deployment) | Achievement (no investment) |
| Processing time | 3-6 months | 4-8 months from invitation |
| Physical presence to maintain (minimum track) | ~7 days/yr (21 over 36 mo) | None for visa; real for citizenship |
| Direct-to-PR? | Not immediately — PR at end of 3-5 year investment period | Yes, day 1 |
| Endorsement requirement | None (financial qualifier only) | Mandatory (state/territory/org) |
| Best for | HNW with capital who prefer financial qualification | Exceptional-achievement applicants without passive capital route |
NZ AIPV and Australia NIV are complementary programmes for different applicant profiles. AIPV suits wealthy investors without the specific exceptional-achievement credentials that NIV requires. NIV suits founders, academics, and athletes without the NZD 5M+ to deploy.
Tax Implications of NZ Residency
New Zealand uses a worldwide-income tax system for tax residents. Becoming an AIPV holder does not automatically make you a NZ tax resident — tax residency is determined by the 183-day test or the “permanent place of abode” test. Applicants who maintain the lighter 21-days-over-36-months presence are typically not NZ tax residents and face no NZ tax on foreign-source income.
NZ has a four-year transitional resident exemption: new residents who weren’t NZ tax residents in the 10 years prior pay no NZ tax on foreign-source income for the first 48 months of tax residency. This makes NZ attractive for applicants who do want to relocate while keeping foreign income shielded during the transition.
Ready to take the next step?
Compare NZ AIPV to other HNW programmesWho Should Apply — and Who Should Look Elsewhere
Apply if you are…
- HNW (NZD 5M+ deployable capital) seeking a Plan B in the South Pacific with genuinely light presence requirements
- Interested in New Zealand’s lifestyle (nature, safety, English-speaking, political stability) as a future base
- Willing to accept the 36-60 month investment hold in exchange for flexibility post-period
- Want to avoid US worldwide-income taxation alternatives (for non-US applicants)
Look elsewhere if you are…
- Below NZD 5M in deployable capital — there’s no cheaper NZ golden visa
- Seeking Schengen or EU access — NZ delivers neither; use Portugal or Greece
- Needing fast citizenship (<5 years) — NZ requires 5 years of PR with 240+ days/year presence before citizenship eligibility
- Wanting zero-risk capital — Growth category is designed for higher-risk productive investment, not capital preservation
Frequently Asked Questions
Why did New Zealand relax the AIPV rules in 2025?▾
New Zealand's previous investor visa programmes (the Investor 1 and Investor 2 categories) had been criticized for attracting either too little capital or applicants who weren't genuinely engaging with the NZ economy. The 2025 reforms restructured into Growth and Balanced categories with differentiated physical-presence requirements, specifically to attract more capital from HNW applicants who were choosing Singapore, Australia, or Portugal over NZ. Early data suggests the reforms have worked — application volume increased substantially in H2 2025.
Can I qualify for Growth category with just passive managed funds?▾
Only if those funds are on the approved Growth list, which is restricted to funds that primarily deploy into higher-risk NZ-economy investments (venture capital, growth equity, direct NZ businesses). Passive index funds on the NZX do not qualify for Growth — they qualify for Balanced at the higher NZD 10M threshold. The distinction is deliberate: NZ is using the AIPV to channel capital into productive economic activity.
What happens if my investment drops in value during the hold period?▾
The qualifying amount is based on the original investment at the time of placement, not the current market value. If you invested NZD 5M in Growth investments and they drop to NZD 4M during the 36-month hold, your residence is not affected as long as you don't reduce your exposure. Partial liquidation below the threshold would be problematic. Most applicants diversify across multiple funds or managers to reduce single-investment concentration risk.
How does NZ AIPV compare to Canada's programmes for investors?▾
Canada's Quebec Investor Program has been paused; the federal Start-up Visa route is for founders with support from approved designated organizations (no passive passive-capital route available). For passive-investor HNW, NZ AIPV is currently the only major English-speaking developed-country programme with a straightforward capital-for-residency structure. Australia NIV requires exceptional-achievement endorsement; UK Tier 1 Investor closed in 2022.
Can I include my adult children in the application?▾
Dependent children under 24 can be included if they're financially dependent on the main applicant. Adult children over 24 would need to apply independently through skilled-migration routes (e.g., Skilled Migrant Category 189, employer-sponsored 482) or rely on family reunification once the main applicant has PR.
What's the transitional-resident tax exemption and how does it interact with AIPV?▾
New Zealand's transitional-resident exemption provides 48 months of no-NZ-tax on foreign-source income for new residents who weren't NZ tax residents in the 10 years prior. For AIPV holders who do relocate to NZ and become tax residents, this is a significant four-year tax holiday on foreign dividends, capital gains, pensions, and business income. This effectively makes NZ one of the most tax-friendly developed-country relocations for the first four years post-arrival.
Is New Zealand safe from climate and natural-disaster risk compared to other Pacific options?▾
NZ is on tectonically active terrain (Pacific Rim of Fire) and the Canterbury/Christchurch 2011 earthquake is a reminder of seismic risk. Climate-change risk is moderate — NZ's temperate climate insulates against the worst tropical impacts. For HNW applicants specifically constructing a climate-resilient Plan B, NZ and Canada are often the preferred English-speaking options, with NZ's geographic isolation being both an advantage (insulation from continental instability) and a disadvantage (supply chain fragility). This is a legitimate planning consideration, not a dealbreaker.
Updated April 2026. Sources: Immigration New Zealand, Department of Internal Affairs, Inland Revenue Department (transitional resident rules). We revise this guide after every material programme change.