New Zealand Active Investor Plus Visa 2026: Latest Statistics, Investor Countries and Investment Trends

New Zealand's revised Active Investor Plus Visa has attracted almost NZ$5.15 billion of committed and prospective investment since major changes to the programme took effect in April 2025.

The latest Immigration New Zealand figures show 949 applications were received between 1 April 2025 and 24 September 2026, with 496 applications already approved.

The data also reveals several important trends.

Approximately 86% of applications are using the NZ$5 million Growth category, the United States remains the programme's largest source market, and managed funds have attracted the substantial majority of committed Growth-category capital.

For international investors considering New Zealand, these numbers provide a useful picture of how the country's residence-by-investment programme is developing.

What is New Zealand's Active Investor Plus Visa?

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

Internationally, programmes of this type are sometimes described as "Golden Visas", although the official New Zealand programme is called the Active Investor Plus Visa.

Major changes introduced from 1 April 2025 established two investment pathways:

Growth Category

Minimum investment: NZ$5 million

Minimum investment period: 3 years

Acceptable investments can include approved managed funds, direct investments and qualifying philanthropy.

Balanced Category

Minimum investment: NZ$10 million

Minimum investment period: 5 years

Provides access to a wider range of acceptable investment classes, potentially including managed funds, direct investments, listed equities, bonds, qualifying property development and philanthropy.

Balanced applicants can also invest in qualifying Growth investments.

How many Active Investor Plus applications have been received?

According to Immigration New Zealand, between 1 April 2025 and 24 September 2026, the revised programme received:

949 Active Investor Plus applications.

Of these:

• 813 were Growth applications
• 136 were Balanced applications

That means approximately 86% of all applications have selected the Growth category.

The preference for Growth is one of the clearest trends to emerge from the revised programme.

How many Active Investor Plus applications have been approved?

As at 24 September 2026:

• 496 applications had been approved
• 256 had been approved in principle
• 148 remained in progress
• 49 had been withdrawn or declined

Of the 496 approved applications:

• 417 were Growth
• 79 were Balanced

The figures demonstrate that the revised AIP programme has progressed beyond simply generating enquiries and applications.

Hundreds of investor applications are now moving through approval and investment.

How much investment has Active Investor Plus generated?

Immigration New Zealand reports approximately NZ$5.15 billion in capital either committed to New Zealand or progressing through the investment pipeline.

As at 24 September 2026:

Capital already committed

Approximately NZ$2.88 billion

This comprises:

• approximately NZ$2.09 billion under Growth
• approximately NZ$798 million under Balanced

Investment pipeline

Approximately NZ$2.26 billion

This comprises:

• approximately NZ$1.78 billion under Growth
• approximately NZ$480 million under Balanced

The investment pipeline includes applications in progress and those approved in principle.

Importantly, Immigration New Zealand's current total excludes applications that have subsequently been withdrawn or declined.

Which countries are producing the most AIP investors?

The revised programme has attracted investors from a broad range of countries.

The largest source markets by applications received as at 24 September 2026 were:

• United States – 305 applications
• China – 180
• Hong Kong – 121
• Germany – 61
• Taiwan – 49
• Singapore – 37
• Great Britain – 26
• Vietnam – 26
• South Korea – 22
• Switzerland – 18
• Japan – 17

Canada, France, the Netherlands, India and numerous other countries are also represented.

Altogether, the 949 applications represent 3,092 people.

This is an important point when considering the wider impact of the programme.

AIP applicants are frequently making decisions not simply for themselves, but for families considering a longer-term relationship with New Zealand.

Why is the United States important?

The United States is currently the largest individual source market for Active Investor Plus applications.

Its 305 applications account for approximately 32% of all applications received under the revised programme.

For New Zealand businesses, fund managers and professional service providers involved in the AIP ecosystem, this makes the United States an important market to understand.

American investors may be considering New Zealand for a combination of reasons involving:

• investment diversification;
• residence options;
• family considerations;
• lifestyle;
• education;
• business interests;
• geopolitical diversification; and
• longer-term international planning.

Every investor's circumstances are different, however, and an AIP application should not be viewed simply as an investment transaction.

Where is Growth-category money being invested?

Immigration New Zealand has also released data showing how committed Growth capital was being invested as at 30 June 2026.

The figures show a striking preference for managed funds.

Of approximately NZ$1.49 billion of Growth capital reported in that investment-type dataset:

• 80% was invested through managed funds
• 18% was invested through Discretionary Investment Management Services (DIMS)
• 2% was invested through direct investments

It is important to note that DIMS are no longer acceptable for new AIP applications, following an earlier rule change. Existing eligible investments made under the previous settings are reflected in the historical data.

What types of managed funds are attracting AIP capital?

Of the approximately NZ$1.2 billion of Growth capital invested through managed funds in the 30 June 2026 dataset:

• approximately NZ$842.1 million was in private credit;
• NZ$135.3 million in venture capital;
• NZ$120.5 million in private equity;
• NZ$49.5 million in fund-of-funds;
• NZ$37.7 million in multi-strategy funds; and
• NZ$14.8 million in infrastructure.

Private credit therefore represented approximately 70% of Growth managed-fund capital reported in that dataset.

This demonstrates the increasingly important role professional managed funds play within the AIP ecosystem.

Where is Balanced-category money being invested?

Balanced investors have used a very different asset mix.

Of approximately NZ$627.3 million of committed Balanced investment represented in Immigration New Zealand's investment-type data:

• 83% was invested in bonds
• 13% in listed equities
• 4% in property development
• less than 1% in managed funds

This illustrates one of the fundamental differences between Growth and Balanced.

Growth has been heavily oriented towards private-market and managed-fund investment, whereas Balanced provides access to a broader range of conventional asset classes.

Are direct investments available?

Yes.

Direct investment into qualifying New Zealand businesses is an important component of the Growth framework, even though it currently represents a relatively small proportion of committed Growth capital.

Invest New Zealand's Acceptable Direct Investment List contained 94 acceptable direct investments as at 28 September 2026.

Not every acceptable investment is publicly displayed, including where a business has elected not to be listed or is not currently open to investment.

Direct investments can potentially provide international investors with exposure to privately held New Zealand businesses seeking capital for areas such as growth, expansion, commercialisation and new projects.

The fact that an investment is acceptable for AIP purposes does not constitute a Government recommendation or guarantee.

What is changing with managed funds?

New managed-fund and direct-investment requirements took effect on 28 September 2026.

The changes include:

• investment deployment plans for managed funds;
• stronger continuing oversight by Invest New Zealand;
• clearer expectations around Growth investments;
• disclosure requirements; and
• a six-month stand-down for declined managed-fund and direct-investment applications.

These changes are intended to strengthen the quality of investments participating in Active Investor Plus and help ensure capital is deployed into New Zealand's productive economy.

What about Build to Rent?

Another important development is scheduled for December 2026.

The Government has announced that qualifying Build to Rent investments will become acceptable under the Growth category through approved managed funds.

Direct investment into Build to Rent will not qualify through this new Growth pathway.

The Growth minimum remains NZ$5 million.

Detailed Build to Rent requirements have not yet been fully published, and Invest New Zealand has said its managed-fund guidance will be updated when those requirements become available.

This is an area NZLIP will continue to monitor closely.

What do the latest AIP statistics tell us?

Several trends are becoming clear.

1. Growth dominates the programme

With approximately 86% of applications choosing Growth, the NZ$5 million pathway has become the principal entry point into Active Investor Plus.

2. The programme is attracting substantial capital

Approximately NZ$5.15 billion is already committed or progressing through the investment pipeline.

3. Managed funds have become central to Growth

Managed funds accounted for 80% of committed Growth capital in INZ's 30 June investment-type dataset.

This role could become even more important when Build to Rent enters the Growth framework.

4. The investor market is genuinely international

Applications have come from North America, Asia, Europe and elsewhere.

The United States alone represents almost one-third of applications, while China and Hong Kong together represent another substantial share.

5. AIP is becoming an investment ecosystem, not simply a visa category

International investors increasingly need to navigate relationships involving:

• Immigration New Zealand;
• Invest New Zealand;
• fund managers;
• direct-investment opportunities;
• licensed immigration professionals;
• investment advisers;
• lawyers;
• tax specialists;
• banks;
• foreign exchange providers;
• property specialists; and
• relocation professionals.

For an international family, coordinating these relationships can become a substantial project.

What does this mean for prospective investors?

The growth of Active Investor Plus creates more investment activity and potentially more choice.

It also makes professional coordination increasingly important.

An investor needs to consider more than simply:

"Which investment gets me the visa?"

Important questions can include:

• Is Growth or Balanced appropriate for our circumstances?
• How should our New Zealand investments fit our wider international portfolio?
• What are the tax implications?
• What liquidity do we require?
• Which investments satisfy AIP requirements?
• How should we transfer capital to New Zealand?
• What banking arrangements are required?
• When should immigration and investment decisions occur?
• Do we intend to establish a home or business interests in New Zealand?
• How does this affect the rest of our family?

These decisions frequently cross several professional disciplines.

How NZLIP helps international investors

New Zealand Life Investment Partners provides an independent Investor Project Management and Concierge Service for international investors and families considering New Zealand.

We Work for the Investor.

NZLIP's role is to help coordinate the complete investor journey.

Depending on the investor's circumstances, that can mean coordinating appropriately qualified professionals across:

• immigration;
• investment;
• legal;
• taxation;
• banking;
• foreign exchange;
• business;
• property;
• relocation; and
• lifestyle establishment.

NZLIP does not provide regulated immigration, investment, financial, legal or tax advice.

Instead, we help investors establish the appropriate professional team and provide a central point of coordination.

One Journey. Many Specialists. One Point of Coordination.

Considering New Zealand's Active Investor Plus Visa?

Whether you are researching the NZ$5 million Growth category, the NZ$10 million Balanced category, managed funds, direct investment or the forthcoming Build to Rent pathway, NZLIP can help you understand and coordinate the overall New Zealand journey.

Arrange a confidential consultation with New Zealand Life Investment Partners.

Frequently Asked Questions

How many Active Investor Plus applications has New Zealand received?

Immigration New Zealand reported 949 applications between 1 April 2025 and 24 September 2026.

How much investment has the Active Investor Plus programme attracted?

Approximately NZ$5.15 billion was either committed or progressing through the investment pipeline as at 24 September 2026.

How many AIP applications have been approved?

Immigration New Zealand reported 496 approved applications as at 24 September 2026.

Is Growth or Balanced more popular?

Growth is substantially more popular. There were 813 Growth applications compared with 136 Balanced applications, meaning approximately 86% of applications selected Growth.

Which country has the most New Zealand investor visa applicants?

The United States was the largest source market with 305 applications, representing approximately 32% of all applications under the revised programme.

Where is Growth-category money being invested?

Managed funds accounted for approximately 80% of committed Growth capital in Immigration New Zealand's investment-type data to 30 June 2026.

How much do I need to invest in New Zealand for an Active Investor Plus Visa?

The minimum is NZ$5 million for Growth or NZ$10 million for Balanced, subject to all applicable visa and investment requirements.

Is Build to Rent available under Active Investor Plus?

The Government has announced that qualifying Build to Rent investment will become available under the Growth category from December 2026 through approved managed funds only. Detailed requirements are still to be released.

Important information

Statistics in this article are based primarily on Immigration New Zealand data covering the revised Active Investor Plus programme from 1 April 2025 to 24 September 2026. Investment-type statistics use Immigration New Zealand data to 30 June 2026.

Statistics are updated periodically and may change.

This article provides general information only and does not constitute immigration, investment, financial, legal or tax advice. Investors should obtain current advice from appropriately licensed and qualified professionals before making immigration or investment decisions.