The Active Investor Plus is New Zealand's current investor residence visa, introduced in 2022. It replaced both the old Investor 1 and Investor 2 categories with a single streamlined pathway that emphasises active investment in New Zealand's growth economy.
In brief: Invest a minimum of NZ$5 million in approved growth assets, maintain the investment for 4 years, spend 117 days in New Zealand over that period, and you qualify for residence.
Historical note: If you've seen references to "Investor 1" or "Investor 2" visas, those categories closed in 2022. The Active Investor Plus is the only current investor residence pathway for high-net-worth individuals who don't qualify through the entrepreneur route.
At a Glance: Key Requirements
| Requirement | Detail |
|---|---|
| Minimum investment | NZ$5 million |
| Investment type | Growth assets (see below) |
| Investment period | 4 years |
| NZ presence required | 117 days over the 4-year period |
| Age limit | None |
| English language | Basic competency (IELTS 3.0 equivalent or accepted alternative) |
| Business experience | Not required |
| Application fee | NZ$4,745 |
| Processing time | Typically 3–6 months |
What Counts as an Eligible Investment?
Unlike the old system that allowed passive investments (bonds, term deposits), the Active Investor Plus requires investment in growth assets — meaning assets that create genuine economic activity in New Zealand.
Acceptable Growth Assets (Full Weight: 1:1)
These count at full value toward your NZ$5M requirement:
- Equity in NZ unlisted companies (direct shareholding)
- Managed funds investing in NZ growth assets (INZ-approved funds only)
- Philanthropic funds via approved NZ community foundations (up to NZ$1M)
- Direct investment into a NZ business you actively manage
Acceptable Venture Capital / Private Equity (Full Weight)
- Investment through NZ-registered venture capital funds
- Private equity funds focused on NZ businesses
- Angel investment in early-stage NZ companies (specific conditions apply)
Reduced-Weight Assets (2:1 ratio — must invest double to get the equivalent credit)
- Listed NZ equities (shares on NZX)
- NZ residential property through registered managed funds
Residential property purchased directly does NOT count. The old passive investments (government bonds, term deposits, foreign assets) do not count under any weighting.
The Presence Requirement: 117 Days Explained
You must spend at least 117 days in New Zealand during the 4-year investment period. This breaks down to roughly 30 days per year or about one month per year.
Key rules:
- Days don't need to be consecutive
- They can be spread across the 4 years in any distribution
- You must be physically present in NZ (travel records verified)
- Days must be during the investment period (not before it begins)
This requirement exists to ensure investors have genuine engagement with NZ, unlike the old system where investors could gain residence with minimal physical presence.
Partner and Family
Your partner and dependent children can be included in your application. The 117-day presence requirement applies to the principal applicant — partners and children are expected to accompany you but don't have separate presence mandates.
How the Application Process Works
Step 1: Expression of Interest (EOI)
Submit an EOI to Immigration NZ outlining your proposed investment, net worth, and how you intend to meet requirements. Fee: NZ$680.
The EOI is reviewed by INZ, which may request additional information. Successful EOIs receive an Invitation to Apply (ITA).
Step 2: Residence Application
Once invited, you have 6 months to submit a full residence application with:
- Evidence of investment funds (bank records, asset valuations)
- Proposed investment plan
- Net worth evidence (assets minus liabilities ≥ NZ$5M investable)
- Police certificates from all countries you've lived in (12+ months in last 10 years)
- Medical examination results
- English language evidence
- Application fee: NZ$4,745
Step 3: Approval in Principle
INZ may grant Approval in Principle, requiring you to demonstrate the actual investment is in place before final residence is granted.
Step 4: Investment and Monitoring
Once residence is provisionally approved:
- Funds must be transferred and invested in eligible assets
- Annual reporting is required — INZ monitors that investment is maintained
- Presence days are tracked against travel records
Step 5: Final Residence Grant
After the 4-year investment period and 117 days of presence are confirmed, INZ issues the final residence grant with no further investment conditions attached.
Total Cost Estimate
| Item | Approximate Cost (NZD) |
|---|---|
| EOI fee | $680 |
| Residence application fee | $4,745 |
| Medical examination | $500 |
| Police certificates | $150+ |
| Immigration adviser (recommended) | $15,000–30,000+ |
| Government fees total | ~$5,925 |
Immigration advisers specialising in investor visas typically charge significantly more than standard cases due to complexity. Expect NZ$15,000–30,000+ for full case management over the 4-year period.
How It Compares to Alternative Pathways
| Pathway | Minimum Threshold | Key Requirement |
|---|---|---|
| Active Investor Plus | NZ$5M (growth assets) | 117 days presence over 4 years |
| Entrepreneur Work Visa → Residence | NZ$100,000 (business) | Active business management, 2 years |
| Skilled Migrant Category | No financial minimum | Skills + employment + points |
| Green List Tier 1 | No financial minimum | Specific occupation + registration |
For most people with investable capital below NZ$5M, the Entrepreneur Work Visa is likely the more relevant pathway. See the full entrepreneur visa guide.
Approved Managed Funds
INZ maintains a list of approved managed funds that count toward the Active Investor Plus investment requirement. These funds invest in NZ growth assets on your behalf, making the investment more accessible for people who don't want to manage direct business investments.
The approved fund list is updated by INZ — always verify a fund's current approval status directly with INZ or a licensed adviser before committing capital.
Frequently Asked Questions
Can I invest in New Zealand residential property directly?
No. Direct residential property purchases do not count toward the Active Investor Plus requirement. Residential property can only count (at a 2:1 ratio) if held through an approved managed fund.
Do I need to be in NZ when I make the investment?
No. Funds can be transferred and invested from overseas. However, you must have the 117 days of NZ presence during the investment period itself.
What if my investments lose value during the 4 years?
You must maintain NZ$5M in investment throughout the period. If the value drops below that threshold, you may need to top up the investment to maintain compliance. Annual reporting gives INZ visibility of investment levels.
Can I change my investment from one asset to another during the 4 years?
INZ allows some flexibility in changing investments, but changes must remain in eligible growth assets and must be reported. Uninvested cash sitting in a NZ bank account does not comply.
Is the 4-year period measured from when residence is granted?
The investment period starts when you lodge your full residence application or from the date INZ specifies in your Approval in Principle. Get clarity on start date from your adviser before committing.
Can I live outside NZ during the 4-year period?
Yes — you only need 117 days in NZ, not continuous residence. Many investors continue their primary residence overseas and visit NZ for compliance purposes and investment management.
The Active Investor Plus involves complex fund selection, tax implications, and multi-year compliance monitoring. Find a licensed immigration adviser who specialises in investor immigration for NZ-specific guidance.