Which one fits?
| Active Investor Plus | Business Investor Work Visa | |
|---|---|---|
| Minimum investment | NZD $5M (Growth) or NZD $10M (Balanced) | NZD $1M (standard) or NZD $2M (fast-track), plus NZD $500,000 to live on |
| What you invest in | Approved investments such as funds and direct investments | An established New Zealand business you buy and run |
| Visa type | Resident visa from the start | Work visa first, up to 4 years |
| Do you run a business? | No | Yes, you must be actively self-employed in it |
| Age limit | Not listed on INZ's visa page | 55 or younger |
| English | Not listed on INZ's visa page | Required |
| Time in New Zealand | 21 days (Growth) or up to 105 days (Balanced) over the investment period | At least 184 days a year for residence |
| Residence | Permanent residence after 3 years (Growth) or 5 years (Balanced) | Residence after 3 years, or after 12 months on the fast-track |
| INZ fee | From NZD $27,470 | From NZD $12,380 |
Active Investor Plus Visa
A resident visa for investors. It lets you live, work and study in New Zealand indefinitely, and INZ says 80% of applications get approval in principle within 11 weeks.
| Growth category | Balanced category | |
|---|---|---|
| Minimum investment | NZD $5 million | NZD $10 million |
| Investment period | 36 months | 60 months |
| Days in New Zealand | 21 days | 105 days (can be reduced) |
| Permanent residence | After 3 years | After 5 years |
| Travel as a resident | 4 years | 6 years |
| Acceptable investments | Direct investments and managed funds approved by Invest New Zealand; philanthropy up to 20% | Direct investments, managed funds, listed equities, bonds, property developments, philanthropy |
Reducing the Balanced days requirement
Each extra NZD $1 million in Growth-type investments (not philanthropy) cuts the required days by 14, up to 42 days. For example, NZD $11 million means 91 days and NZD $13 million means 63 days. You must nominate the extra funds before approval in principle.
Main requirements
- Funds: lawfully earned or acquired. Unconditional, lawful gifts are allowed, but gifts already in New Zealand can't count.
- Fit and proper person: compliant with immigration, employment and tax laws, with no relevant investigations, dishonesty convictions or business fraud.
- Health: chest X-ray and medical examination.
- Character: police certificates from every country of citizenship and any country you lived in for 12 months or more in the last 10 years, for everyone aged 17 or over. Certificates must be less than 6 months old.
- Family: include your partner (at least 12 months living together) and dependent children aged 24 or under. Children aged 21 to 24 must still rely on you financially. Family must arrive within 12 months of the visa being granted.
AIP: from approval to permanent residence
- Approval in principleINZ approves your application before you invest.
- Transfer funds within 6 monthsAn extra 6 months may be possible if you contact INZ before the deadline and show you've taken reasonable steps.
- Make your investments and get your visaYour investment period starts.
- Report at 24 months and at the endEvidence of investments and a post-investment questionnaire are due within 3 months of each date.
- Have conditions liftedOnce you meet the investment and time requirements, ask INZ to remove your section 49 conditions (no fee).
- Apply for a Permanent Resident VisaAfter 36 months (Growth) or 60 months (Balanced).
Business Investor Work Visa
For people who want to invest in and actively run an established New Zealand business. The visa lasts up to 4 years in two stages.
| Investment | At least NZD $1 million (standard) or NZD $2 million (fast-track) in the business, not counting GST, the value of the business's property, or fees |
|---|---|
| Funds to live on | At least NZD $500,000 on top of your investment, accessible from New Zealand |
| Source of funds | Your own (or your family's), lawfully earned, and generally not borrowed |
| Business experience | At least 3 years running a business with 5+ full-time staff or NZD $1M annual revenue, or as a senior manager over 5+ staff in a business turning over NZD $5M |
| Age | 55 or younger when you apply |
| English | Required; test results no more than 2 years old |
| Health and character | Chest X-ray and medical (under 3 months old); police certificates (under 6 months old) |
| Stage 1: Establishment | First 12 months: buy the business and start running it. Show evidence within 9 months, or the visa ends at 12 months. |
| Stage 2: Operating | The rest of the 4 years. One renewal of up to 2 years is possible if you need more time for residence. |
Your partner may get a work visa and your children student or visitor visas. They don't need to meet the English requirement now, but must meet it (or pay for English classes) before residence.
The business you buy
- Trading for at least 5 years and operating lawfully in New Zealand
- At least 5 full-time-equivalent staff
- A purchase price of at least NZD $1 million, giving you at least 25% ownership
- Not already owned by you or your family, and not used in an investor or entrepreneur application in the last 10 years
- You must create at least one new full-time job for a New Zealand citizen or resident
Documents your proposal needs
- A Business Proposal form (INZ 1393)
- A valuation by a qualified statutory accountant
- Financial due diligence confirmed by a statutory accountant
- Legal due diligence confirmed by a New Zealand lawyer, who must be different from your immigration lawyer
BIWV: path to residence
On the standard pathway, you may be eligible for residence after 3 years running the business. On the fast-track (NZD $2 million), you may be eligible after 12 months, but you still need to run the business for 3 years in total across both visas.
For residence you must, among other things, spend at least 184 days a year in New Zealand, keep your ownership, keep 5 full-time-equivalent staff, and keep the business solvent.
Common mistakes
- Not being able to trace where funds came from. Start gathering source-of-funds evidence early.
- Missing the 6-month window to transfer AIP funds, or the 3-month reporting windows.
- For the BIWV, agreeing to buy a business before checking it meets every rule (5 years trading, 5 staff, NZD $1M price, 25% ownership).
- Forgetting the BIWV English requirement and age limit of 55.
Sources
- Immigration New Zealand: Active Investor Plus Visa
- Immigration New Zealand: Business Investor Work Visa
- Immigration New Zealand: Business investor visas pathway to residence
Fees and settings change. Check the official pages before you apply. This is general information, not immigration advice.