New Zealand Active Investor Plus Visa: Growth Category Expands to Include Build to Rent

New Zealand has announced another significant development to its Active Investor Plus Visa, with qualifying Build to Rent investment set to become available under the NZ$5 million Growth category.

The change, announced by the New Zealand Government on 8 September 2026, will take effect from December 2026.

For international investors considering New Zealand residence by investment — sometimes described internationally as New Zealand's "Golden Visa" — the announcement provides another potential investment option within the increasingly popular Growth pathway.

Here is what prospective investors need to know.

What Has Changed?

From December 2026, Active Investor Plus applicants using the Growth category will be able to include qualifying Build to Rent exposure as part of their investment in New Zealand.

There is an important distinction, however.

Investors will not be able to make a direct investment into a Build to Rent development and have that investment qualify under this new Growth provision.

Instead, Build to Rent investment will need to be made through an approved managed fund, with the relevant fund approved by Invest New Zealand.

Applicants and members of their family will also not be permitted to live in a Build to Rent development funded through their qualifying investment.

Does the NZ$5 Million Investment Requirement Change?

No.

The minimum investment requirement for the Active Investor Plus Growth category remains NZ$5 million.

The minimum investment period also remains three years.

The Government is therefore expanding the potential range of qualifying Growth investments rather than changing the fundamental NZ$5 million threshold.

What Is New Zealand's Active Investor Plus Visa?

The Active Investor Plus Visa is New Zealand's principal residence programme for high-net-worth international investors.

The programme underwent substantial changes in April 2025 and now provides two principal investment pathways:

Growth Category

• Minimum investment: NZ$5 million
• Minimum investment period: 3 years

Growth is focused principally on investments such as approved managed funds and direct investments in New Zealand businesses. Up to 20 percent of the required investment can also currently be allocated to qualifying philanthropy.

Balanced Category

• Minimum investment: NZ$10 million
• Minimum investment period: 5 years

Balanced permits a broader range of acceptable investments, potentially including managed funds, direct investments, listed equities, bonds, philanthropy and qualifying property development.

The appropriate pathway depends on considerably more than the investment threshold. An investor should consider their circumstances and obtain appropriate regulated immigration, investment, legal and tax advice before making decisions.

How Successful Has the Revised Active Investor Plus Programme Been?

The response from international investors has been significant.

Immigration New Zealand's latest figures show that between the introduction of the revised settings in April 2025 and 2 September 2026, 904 Active Investor Plus applications were received.

Of those:

• 772 applications were Growth
• 132 applications were Balanced
• 467 applications had already been approved

That means approximately 85 percent of applications have selected the Growth pathway.

The amount of capital involved is also substantial.

Approximately NZ$4.935 billion is either already committed to qualifying New Zealand investments or progressing through the investment pipeline.

Where Are Active Investor Plus Applicants Coming From?

The programme is attracting investors from around the world.

The United States is currently the largest individual source market, with 293 applications received since the revised programme commenced.

It is followed by:

• China — 168 applications
• Hong Kong — 118
• Germany — 59
• Taiwan — 47
• Singapore — 36
• Great Britain — 25

Applications have been received from dozens of nationalities.

The figures demonstrate that New Zealand's investor residence proposition is attracting genuine international interest rather than demand being concentrated within one geographic market.

Why Are International Investors Considering New Zealand?

For many high-net-worth individuals and families, the decision to establish New Zealand residence is about considerably more than obtaining another visa.

New Zealand can form part of a much wider family strategy involving:

• international residence diversification
• investment
• lifestyle
• family security
• education
• business interests
• succession and long-term family planning
• establishing a future home in New Zealand.

The investment and immigration components are therefore often only parts of a much larger decision.

The Active Investor Plus Journey Can Involve Many Different Professionals

This is something prospective applicants can underestimate.

An international investor considering the Active Investor Plus programme may eventually find themselves dealing with:

• Immigration New Zealand
• Invest New Zealand
• licensed immigration advisers or immigration lawyers
• investment advisers
• managed fund providers
• New Zealand banks
• foreign exchange specialists
• lawyers
• accountants
• international tax advisers
• property professionals
• relocation providers
• education specialists
• other professional advisers.

Each professional may be responsible for one important component of the process.

But who coordinates the entire project on behalf of the investor?

This Is Where NZLIP Is Different

New Zealand Life Investment Partners (NZLIP) provides specialist Investor Project Management and Concierge Services for international investors and families considering New Zealand's Active Investor Plus programme.

We do not attempt to replace the investor's regulated professional advisers.

Instead, we help coordinate them.

Our role is to provide the investor with a central point of contact across the wider New Zealand journey.

That can include helping to coordinate the appropriate immigration, investment, legal, banking, accounting, tax, property and relocation professionals as requirements arise.

We Work for You

NZLIP is not a managed fund provider.

We are not trying to sell an investor a particular investment product.

We do not provide immigration, legal, financial, tax or investment advice.

Instead, our role is to help the investor manage what can become a complex, multi-stage international project and to work alongside appropriately licensed specialists where regulated professional advice is required.

What Does the Build to Rent Announcement Mean for Investors?

The immediate significance is increased choice.

From December 2026, qualifying Build to Rent exposure through Invest New Zealand-approved managed funds will provide another potential option within the Growth category.

However, investors should not interpret the announcement as meaning that any New Zealand residential property or Build to Rent investment automatically qualifies.

It does not.

The structure of the investment matters, and acceptable Growth investments need to comply with the relevant Active Investor Plus requirements.

Prospective applicants should therefore obtain appropriate professional advice before committing capital on the assumption that an investment will qualify.

Considering New Zealand's Active Investor Plus Visa?

If you are considering the NZ$5 million Growth category, the NZ$10 million Balanced category, or are at the early stages of exploring whether New Zealand could form part of your family's international plans, we welcome a confidential discussion.

New Zealand Life Investment Partners can help you understand the overall journey, identify the professional expertise you are likely to require and coordinate the different components as your plans develop.

Arrange a Confidential Consultation

Speak with New Zealand Life Investment Partners about your New Zealand plans.

Visit www.nzlip.com to arrange an initial confidential discussion or access our guide to New Zealand's Active Investor Plus Visa.

Ready to Explore Your Options?

Arrange a confidential discussion with New Zealand Life Investment Partners.