GROWTH
Capital for business growth
Approved direct investments and managed funds form the core. These assets typically carry higher risk and limited liquidity; commitments can exceed three years.
01 / GROWTH / BALANCED
Two routes. A clear comparison.
Compare capital commitment, investment liquidity and your family's presence plans.
| Key conditions | Growth | Balanced |
|---|---|---|
| Minimum investment | NZ$5 million | NZ$10 million |
| Investment period | 36 months | 60 months |
| Total presence | 21 days | 105 days¹ |
| Investment scope | Approved direct investments / funds; eligible philanthropy ≤20% | Direct investments, funds, equities, bonds, eligible property and philanthropy |
| Upper age limit | None | None |
| English requirement | None | None |
| Business experience | Not required | Not required |
| Investment evidence | Months 24 & 36 | Months 24 & 60 |
¹ Each extra NZ$1m in qualifying Growth assets, excluding philanthropy, reduces Balanced presence by 14 days, up to 42 days. Nominate the extra funds before approval in principle and retain them for 60 months.
Balanced presence reductions
| Total investment | Total presence |
|---|---|
| NZ$10m | 105 days |
| NZ$11m | 91 days |
| NZ$12m | 77 days |
| NZ$13m | 63 days |
Presence is cumulative over the relevant investment period and must be completed as a resident visa holder. Amounts are in NZD; the former weighted-investment model does not apply.
02 / INVESTMENT
Investment scope & liquidity
Assess immigration eligibility and commercial investment terms separately.
BALANCED
A broader investment universe
Eligible equities, bonds, property development and philanthropy sit alongside Growth assets. Broader choice does not imply capital protection or immediate redemption.
Eligibility and due diligence
Investments must be held in New Zealand in NZD and cannot be for personal use. Growth funds must be on Invest NZ's acceptable list, and direct investments must meet its eligibility rules. Managed funds require a legally binding agreement under New Zealand law and evidence of committed or invested capital. Fund agreements no longer need to be non-revocable; direct-investment contracts have separate requirements.
Committed but uncalled fund capital must be held in qualifying New Zealand on-call investments, with enough available to meet capital calls. Bank accounts and term deposits generally cannot exceed 25% of the initial commitment; the balance must meet the eligible-equity or bond rules. Ongoing compliance is required throughout the investment period.
Review approval status, assets, manager, fees, valuation, distributions and exit terms. Immigration eligibility is not a government guarantee of capital, returns or success.
Philanthropy: the June 2026 change
From 1 June 2026, new Growth applicants may allocate up to 20% to eligible philanthropy: up to NZ$1m on a NZ$5m commitment. Balanced permits any proportion, subject to its rules.
Charities must meet registration, reporting, tax and domestic-use criteria. Disclose conflicts of interest. Budget donations as non-recoverable expenditure.
Maturity, reinvestment and early repayments
The immigration period is not the fund's maturity date. If an asset is sold during the period, the original investment less losses generally needs to be reinvested; profits need not be.
The usual reinvestment window is 90 days for approved direct investments and funds, and 30 days for equities, bonds and other specified classes, starting on the first working day after repayment. Check exceptions and approval requirements.
03 / POLICY UPDATE
Policy changes, clearly dated
Reconfirm changes affecting deployment before committing capital.
28 SEP 2026
Announced · not yet effective
Funds will need deployment plans; declined investment-eligibility applications face a six-month stand-down. Invest NZ oversight and category guidance will be strengthened.
DEC 2026
Announced · detailed implementation pending
Build to Rent is scheduled to enter Growth through approved managed funds only. Direct investment is excluded; applicants and family cannot live in developments funded by their investment. It is not shown as a currently available option.
Invest NZ is not accepting new fund/direct-investment eligibility applications between 16 and 28 September. This is not a suspension of individual AIP visa applications. Checked 17 September 2026.
04 / SOURCE OF WEALTH
Source of funds & transfers
A clear, lawful record from wealth creation to final investment.
| Evidence category | What to establish |
|---|---|
| Ownership | Ownership, beneficial share and value of nominated assets |
| Source of wealth | How earnings, dividends, sale proceeds, inheritances or gifts arose |
| Transfer trail | Traceable liquidation, bank transfers and final investment |
| Cross-border compliance | Legal, tax and transfer requirements in both jurisdictions |
Dividends, portfolios and property
For dividends, connect share ownership, distribution resolutions, tax evidence and receipts. For portfolios, connect valuations and original funding. For property, connect title, valuation, sale contracts and acquisition funds. Asset valuations should be externally prepared and no more than three months old at application.
Joint assets, gifts and borrowing
Qualifying investments jointly held with an included partner or dependent child may count in full; other joint holdings count only to your share. Gifts must be lawful and unconditional with donor-source evidence; relevant funds already or previously in New Zealand are restricted.
Borrowing is acceptable only under specific conditions: funds must come from a bank or commercial lender acceptable to INZ, be secured against nominated assets, and be obtained in the same country or jurisdiction as those assets. Liquidation must be economically unviable or impractical. INZ assesses eligibility case by case.
Transfers and the six-month window
Normally transfer and invest within six months of approval in principle. A further six-month extension may be requested before expiry, with evidence of reasonable efforts.
Use the international banking system with SWIFT or telegraphic-transfer evidence. Offshore conversion followed by domestic payment in New Zealand is not accepted. Passive QDII-style investments subject to repatriation obligations are unsuitable.
05 / FAMILY
Family & residence
Coordinate partner, children and long-term plans on one timeline.
Partner
An eligible partner may be included, with evidence of a genuine, stable relationship and at least 12 months living together.
Dependent children
Eligible single children aged 24 or younger may be included. Those aged 18+ must have no children of their own; ages 21–24 also require financial dependency.
Health, character and suitability
The principal applicant must meet fit-and-proper requirements, including business and tax compliance. Relevant health and character standards also apply to family members.
People aged 17+ need police certificates from citizenship countries and other countries where they spent 12 months or more in the past ten years. Certificates generally must be less than six months old. Medical, X-ray and translation requirements depend on the applicant and INZ instructions.
First entry and family timing
Included family members must enter within 12 months of visa grant; otherwise a new residence application may be needed. Keep child ages, relationship changes and newborn children under review during preparation and processing.
Dependent children born after the principal applicant's AIP residence grant may first obtain a Dependent Child Resident Visa. After entering New Zealand on that visa, eligible children may be included under the current non-principal-applicant rules in their parent's permanent residence, travel-condition variation or subsequent resident visa application.
06 / COST FRAMEWORK
Capital & costs
Separate invested assets, non-recoverable costs and ongoing expenses.
| Cost item | Amount / basis |
|---|---|
| AIP official application cost | From NZ$27,470 |
| Removal of section 49 conditions | No INZ charge |
| Permanent Resident Visa application | From NZ$315; separate application |
| Investment and transaction costs | As specified in investment documents |
| Medical, certificates & translation | Depends on people and documents |
| Professional services | Scope and fees confirmed in writing |
Investment thresholds are not the total budget. Allow for services, tax, FX, banking and living costs. Philanthropy is non-recoverable. Government figures are published starting prices, not a fixed per-person total; reconfirm for the application.
Do investment fees count towards the threshold?
INZ values investments in NZD when made, inclusive of charged investment, brokerage and transaction fees. Confirm each product's fee structure and qualifying amount; immigration service fees are not investment capital.
07 / PROCESS
From application to permanence
Track each decision, capital movement and deadline.
Prepare
Confirm route, family and fund ownership; prepare source evidence and application.
Approval in principle
INZ assesses the application. Approval in principle starts the transfer stage; it is not the final resident visa.
Transfer & invest
Normally complete qualifying deployment within six months and supply evidence as instructed. The 36- or 60-month period generally starts when all qualifying investments are completed, or at approval in principle if completed earlier. INZ records the applicable start date in its conditions letter.
Residence & compliance
Meet presence and investment conditions, providing evidence and post-investment questionnaires at review points.
Conditions removal & permanent residence
After 36 or 60 months and all other conditions, request removal of section 49 conditions and apply for permanent residence.
Processing and investment reviews
At review, INZ reports 80% of approvals in principle within four months. This is changeable and not a case guarantee or a total end-to-end timeframe.
Reviews occur at months 24/36 for Growth and 24/60 for Balanced. Investment evidence and questionnaires are generally due within three months of each review date.
08 / STATUS
Residence, permanence & citizenship
Understand the status granted and the obligations that remain.
RESIDENT VISA
Resident visa
Live, work and study subject to investment and travel conditions. Travel conditions normally run for four years from first entry for Growth, or six for Balanced.
PERMANENT RESIDENT VISA
Permanent resident visa
After the relevant investment period and all conditions are met and approved, travel is indefinite with a valid passport. AIP does not automatically convert after two years.
Permanent residence and citizenship
Permanent residence and citizenship are different legal statuses. Citizenship has separate presence, language and character requirements; AIP's 21 or 105 days cannot replace them. The government has announced a test for most citizenship-by-grant applicants from late 2027, subject to implementation rules.
09 / TAX RESIDENCE
Tax & cross-border assets
Coordinate residence planning and tax analysis with accurate records.
Tax residence is a separate test
Immigration status does not determine tax residence. Consider more than 183 days in any 12 months and a permanent place of abode. Short stays do not automatically mean tax exemption; specific non-resident visitor exceptions have conditions.
Transitional resident exemption
Eligible new tax residents may receive about four years of exemption on most foreign income, generally after ten years of non-residence and only once. Foreign employment and personal-service income are not covered.
Review cross-border assets before moving
Have a tax professional assess shareholdings, overseas companies, trusts, portfolios, income sources and family residence together. Confirm exemption dates and subsequent reporting. A visa, day count or broad capital-gains slogan does not establish your tax position.
10 / QUESTIONS
Questions before committing
Bring capital, family and timing into one coherent preparation plan.
Can a home purchase replace the investment?
A personal home is not a qualifying AIP investment. Property investments must meet category rules, while residential purchase eligibility requires separate assessment. Planned Growth Build to Rent access in December 2026 is fund-only and excludes personal occupation by investors and family.
Can I switch between Growth and Balanced?
INZ permits one category change, before approval in principle or within the first six months afterwards. Additional funds and investment requirements must satisfy the new category.
Are approval, capital or returns guaranteed?
No. INZ decides visa applications. Eligibility is not a government guarantee. Investments may lose value or delay exits, and donations are not repayable. Obtain independent legal, tax and investment review before committing.
How do I begin?
Start with family composition, investment budget, asset jurisdictions and intended presence. Do not submit passports or bank statements through a public form. Share sensitive evidence after scope and data handling are confirmed.
This page provides general official-policy information. Personalised New Zealand immigration advice requires an appropriately authorised professional. Investment, legal and tax matters require their respective specialists.
CONATUS MOBILITY
Start with your family and capital
Contact us to discuss service scope and application preparation.
Contact usThis is not a government website. General information is not personal legal, tax or investment advice. Authorities decide applications and investment eligibility. Current rules, official written requirements and contracts prevail. Policies and fees may change. Landscape illustrations imply no official or investment endorsement.