Investor Visas NZ: What Are Acceptable Investments?
New Zealand is a desirable country for migrants to invest in due to its stable political structure, innovative approach to business, and overall quality of life.
The Government is actively seeking successful entrepreneurs, business people and investors willing to invest in the New Zealand economy.
There is a wide range of NZ investor migrant visa options. However, they need to meet specific investment obligations and requirements.
What Is the New Active Investor Plus Visa (AIPV)?
Acceptable investments carry different weightings towards the Active Investor Plus Visa's new guidelines with an increase to the threshold, now at NZ$15 million. Migrant investors can invest across a combination of different investment types.
Immigration New Zealand opened the Active Investor Plus Visa category on 19 September 2022. This investor visa attracts experienced, high-value investors to help build globally successful Kiwi businesses.
AIPV Acceptable Investments
Four eligible investment classes both direct and indirect. They carry different weightings towards the NZ$15 million investment threshold. Investors may be able to invest across a combination to meet the threshold.
Is There a Difference Between Direct & Indirect Investments?
When a migrant makes a direct investment, they put money into one or more specific New Zealand businesses.
When a migrant makes an indirect investment, they put money into a managed fund or venture capital fund, which then makes investments in NZ businesses. It can also take the form of investments made through the purchase of shares, or securities investment funds, in which migrant investors don't actively manage their investments.
Direct Investments
- Listed equities that are considered an acceptable investment as set out in Immigration New Zealand instructions, reference BN7.10.1(a), as a wholesale investor.
- An equity security in an investee entity.
- A financial product will be converted or may become convertible into an equity security in an investee entity.
As part of the conditions, the NZTE must confirm that either the applicant is investing in acceptable listed equities that were pre-approved by NZTE before funds were invested or that the investee entity is an acceptable direct investment.
Direct investments into private businesses receive the highest weighting (3x). For example, you can meet the required amount by investing NZ$5 million into direct investments.
Managed Funds
Investments in managed funds are acceptable when they meet either:
- The managed investment products issued by a managed investment scheme which is on the acceptable managed fund list maintained by NZTE.
- A discretionary investment management service on the acceptable managed fund list maintained by NZTE.
Investments in managed funds such as private equity or venture capital are upweighted (2x). For example, you can meet the required amount by investing NZ$7.5 million into private funds.
Contact our specialist Investor team for licensed immigration advice to help you understand your AIPV investment options.
Philanthropy
Acceptable philanthropic investments must be registered charities with at least two years of annual returns and have an approved donee status from Inland Revenue which has not ceased.
Investments in philanthropy receive no additional weighting. However, it is capped at 50% of the NZ$15 million investment requirement. For example, you can meet the required amount by putting NZ$7.5 million into eligible philanthropic causes and NZ$7.5 million into listed equities.
Listed Equities
For an investment in listed equities to be considered acceptable, the funds must be invested directly or through an exchange-traded or managed fund. An exchange-traded or managed fund must be handled by someone that is licensed by the Financial Markets Authority to provide that service in the equities of a New Zealand resident entity that:
- Are listed by a market operator licensed by the Financial Markets Authority.
- Are offered through a crowdfunding provider licensed by the Financial Markets Authority.
- Is not engaged in the acquisition, ownership, leasing, management, and operation of commercial or residential property development except if the below applies.
Equities in entities engaged in managing property assets may be counted towards the principal applicant's investment in listed equities, provided they comprise no more than 20 per cent of the value of the total assets held by the fund.
Investments into listed equities receive no additional weighting. However, they are also capped at 50% of the NZ$15 million investment requirement. For example, you can meet the required amount by putting NZ$7.5 million into listed equities and NZ$7.5 million into eligible philanthropic causes.
Investments That Can Not Be Included
Bonds and Property are not considered an acceptable investment. However, INZ has noted that as part of listed equity investments, AIPV holders can invest in exchange-traded funds or managed funds that own companies engaged in the acquisition, development, ownership, leasing, management, and operation of property assets as long as it accounts for only 20% of the investment.
Changes In Your Acceptable Investments
Acceptable investments can be changed during the investment period in some circumstances.
An investment may become ineligible during the investment period. For example, if a company goes out of business and ceases operations. In this case, contact Malcolm Pacific Immigration today, and we'll work with you and NZTE to ensure your investment continues to be acceptable.
Do You Need to Have All the Money at the Time of Application?
After an application is approved in principle, applicants have six months to make a minimum initial investment and invest the remainder of the funds into holding or other acceptable investments. The total value of the investments must be at least NZ$15 million or the weighted equivalent. The acceptable holding investments are:
- Bonds issued by the New Zealand government or a local authority.
- A term deposit with a New Zealand-registered bank.
- Deposits in a New Zealand registered bank.
Funds invested in a holding investment must be in the applicant's name, remain separate from any other funds and are not for personal use. They should only be withdrawn to make an acceptable investment.
Is There Another NZ Investor Resident Visa Option?
There is a range of other visas that allow you to start a business or get involved in the entrepreneurial environment in New Zealand. You can read more about NZ investor visa pathways here. However, here we discuss the parent retirement visa, which includes investment requirements and can lead to residency, much like the AIPV.
Learn about the changing NZ Investor Visa requirements for residency here.
Investment Under the Parent Retirement Visa
The NZ parent retirement visa enables parents to join their adult children in New Zealand. To be eligible, applicants must meet INZ's financial requirements of keeping at least NZ$1 million invested in an acceptable investment in New Zealand for four years.
While allowing migrant parents to live, work and study in New Zealand, it also allows them to apply for permanent residence after four years of keeping their funds invested in New Zealand.
Parent Retirement Visa Acceptable Investments
Beyond New Zealand's standard acceptable investments, as listed at the beginning of this article, the Parent Retirement visa is unique in that it considers a residential property development to be an acceptable investment.
However, it must be a new development, not a renovation or extension to an existing residential property, and have the necessary approvals and consents. Furthermore, it must be to make a commercial return on the open market – it must not be for the applicant or the applicant's family or friends to live in.
Parent Retirement Visa Acceptable Investments Changes
Loss in investment value can happen. If an investment decreases in value below INZ's required investment level, the applicant does not need to invest more to top it up.
Applicants may want to reinvest part of their acceptable investment. In the case of selling investments during the investment period, the principle and any capital gains must be reinvested. However, applicants can reinvest part of their acceptable investments into other business ventures or expansions.
What Investor Visas Are Being Discontinued?
The new Active Investor Plus visa category replaced two existing categories, Investor 1 and Investor 2 visas, that have been running for over 12 years. These visas closed to new applications on 27 July 2022, while the current pipeline of applications continues to be processed by INZ.
Investor Plus Visa (Category 1)
Previously, the applicant had to meet the following criteria:
- Have NZ$10 million to invest in NZ.
- Prove investment dollars lawfully earned.
- Be of good health and character.
- Hold investment in NZ for three years.
Investor Two Resident Visa
Previously, the applicant had to meet the following criteria:
- Be under 66 years of age.
- Speak English to a basic standard.
- Be of good health and character.
- Prove three years of business experience.
- Show net worth of NZ$3 million or more
- Have NZ$3 million to invest in NZ.
- Prove investment dollars were lawfully earned.
- Hold Investment in NZ for four years.
The 'Old' Acceptable Investments
Migrant investors that previously gained residence under the Investor 1 and Investor 2 category were required to invest in acceptable investments, as listed below:
- Bonds issued by the New Zealand government or local authorities
- Bonds issued by New Zealand firms traded on the New Zealand Debt Securities Market
- Bonds issued by New Zealand firms with at least a BBB
- Bonds issued by registered New Zealand banks
- Equities in registered New Zealand banks
- Bonds in finance companies
- Equity in New Zealand firms
- Residential property development
- Commercial property
- Eligible New Zealand venture capital funds
- Philanthropic investment
- "Angel funds or networks" investments
Do You Meet the Acceptable Investment Requirements?
Malcolm Pacific Immigration has one of the most skilled Investor Visa teams in the business. Our Investor Visa team regularly travels overseas with major New Zealand banks, investment advisers, tax experts and government officials to meet with and advise high-net-worth individuals planning on moving to New Zealand.
Contact our specialist Investor Immigration Team for answers to your questions and find out if you are eligible to apply.
Get started with a FREE consultation today
Our highly experienced licensed Immigration team will take away the stress and worry of navigating the complicated world of New Zealand Immigration. All you need to do is get in touch. Our team is on standby, ready to help.
Get started with a FREE consultation today
Our highly experienced licensed Immigration team will take away the stress and worry of navigating the complicated world of New Zealand Immigration. All you need to do is get in touch. Our employer team is on standby, ready to help.
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Latest Updates
Our team keep ahead of all the latest immigration developments and post updates regularly. Stay up to date by signing up to our newsletter and get these updates directly to your inbox.
Migrant Worker Residence
Today the government announced a pathway to residence for migrant workers who are living and working in New Zealand. Applications open on 1 December 2021 for the first wave who are eligible to apply. The second wave can apply from 1 March 2022. The deadline to lodge an application is 31 July 2022 or else they will miss out on this one off opportunity.
Skilled Migrants Opportunity
Today the government announced a pathway to residence for people living and working in New Zealand. Applications open on 1 December 2021 for the first wave eligible to apply. The second wave can apply from 1 March 2022. The deadline to lodge an application is 31 July 2022 or else you miss the boat.
New Employer Accreditation Process
The government has moved the introduction of the new employer accreditation process across to mid-2022. At the same time, the Minister of Immigration announced new work visa rules for migrant workers who are already in New Zealand and working full time.
Skilled Migrant Changes
The government has increased the median wage to $27 per hour from 19 July. Any Skilled Migrant residence application lodged after this date will need to include a skilled job offer that pays at least $27 per hour. For some lower-skilled occupations, the minimum pay rate increases to $40.50 per hour.
Work Visa Rules
From 19 July 2021
- The median wage used to assess Essential Skills Work Visa applications increases from $25.50 per hour to $27 per hour.
- Applicants paid below the median wage may be granted a work visa for up to 24 months. The usual 6-month visa validity restriction is suspended until mid-2022.
- In certain cases, the labour market test is waived and in some cases, it will still apply.
Work Visa Rules
From 30 June 2021
- Employer Accreditation and Approval in Principle applications are now closed.
- No new Employer Accreditation applications (including renewals) will be accepted until the new process goes live in mid-2022.
Employer Accreditation Becomes Mandatory
Employers of migrant workers must become accredited from 1 November 2021 before work visa applications can be processed. Most employers are not accredited. Those that are accredited will have to roll into the new system when it goes live in late September.
Work Visa Rules
From mid-2020 (delayed)
- Government to negotiate and introduce Industry Sector agreements setting minimum conditions for industries that heavily rely on overseas workers. Sectors include; residential care, meat processing, dairy, forestry, road freight transport, tourism, and hospitality. Construction, horticulture, and viticulture may also be included.
Skilled Migrant Changes
Skilled occupation "Dairy Cattle Farmer" spilt into three occupations. New occupations are: "Dairy Farm Manager", "Assistant Dairy Farm Manager" and "Dairy Herd Manager". Each sit at different skill levels, therefore, the award of points will depend on pay rates, job tasks and other requirements.
Work Visa Rules
From 15 February 2021
- Dairy Cattle Farmer job offers are now assessed by three new occupation descriptions: Dairy Farm Manager, Assistant Dairy Farm Manager and Dairy Herd Manager. Pay rates and job tasks will determine how long a work visa is valid. Take advice.
Skilled Migrant Changes
The government has deferred the fortnightly selection of Expressions of Interest from the Skilled Migrant pool for six months (to be reviewed in April 2021). Invitations to Apply for Residence remain suspended. The last selection from the Skilled Migrant pool took place on 18/03/2020.
Work Visa Rules
From 7 October 2020
- Introduction of "Oversupply" and "Undersupply" occupation lists used to assess Essential Skills Work Visa applications when a job offer pays less than the median wage.
- Employers offering jobs to migrant workers where an occupation is on the "Oversupply" list will not get Skill Match reports issued by Work & Income. Solid evidence of genuine attempts to find a local to fill the job will be critical for approval.
Skilled Migrant Changes
The government added four new occupations that are now regarded as skilled employment and may qualify for job offer points under the Skilled Migrant Category. These are:
Aged or disabled carer, Bicycle mechanic, Driller and Nursing Support worker.
Work Visa Rules
From 27 July 2020
- Essential Skills work visa applications are now assessed based on the current median wage (NZD $25.50 or more per hour.).
- Job offers paying below the median wage require employers to pass the labour market test* and secure a Skills Match Reports from WINZ (work visas granted for a maximum of 6 months).
Skilled Migrant Changes
Anyone invited by Immigration NZ to apply for residence under the Skilled Migrant Category where their invitation is dated between 1 November 2019 and 15 April 2020 (inclusive) has now been granted an additional six months to lodge their residence application.
Work Visa Rules
From 27 May 2020
- Regional Skill Shortage List goes live. 15 regions around New Zealand list occupations reflecting local skill shortages in each region. The labour market test is not mandatory provided the job offer matches the occupation and region plus the visa applicant has qualifications and/or work experience set out on the list.
Skilled Migrant Changes
The government has deferred the fortnightly selection of Expressions of Interest from the Skilled Migrant pool. This means Invitations to Apply for Residence are also suspended. Malcolm Pacific Immigration does not anticipate selections to resume until after the general election held on 17 October 2020.
Skilled Migrant Changes
Immigration NZ is now prioritising Skilled Migrant Residence applications where the main (principal) applicant meets the criteria:
- Has employment paying double the median wage which is currently NZD $51 per hour OR NZD $106,800 per annum; OR Has New Zealand occupational registration and is required to hold valid registration to lawfully carry out their job.
Work Visa Rules
From 24 February 2020
- Wage or salary thresholds increase for Essential Skills Work Visas applications lodged on or after 24/02/2020 (labour market tested; read more here).
- Higher Skilled employment increases to $38.25 or more per hour ($79,560 per annum*)
- Mid Skilled Employment increases to $21.68 or more per hour ($45,094 per annum*)
Work Visa Rules
From 7 October 2019
- Base salary to qualify for a Work to Residence Visa (WTR) supported by an accredited employer increases from $55,000 per annum to $79,560 per annum (or $38.25 per hour).
- Pay rates for WTR visas are now reviewed annually.
- Work visa applicants paid less than $79,560 per annum by accredited employers need to apply under other work visa categories.
Skilled Migrant Changes
The government recently added more occupations that are now to be regarded as skilled employment and may qualify for job offer points under the Skilled Migrant Category. In order to qualify for points, the job must be paying at least the current median wage (or higher for certain occupations) at the time the residence application is lodged.
Work Visa Rules
From 1 November 2021
- Work to Residence Visa (Accredited Employer and Long Term Skill Shortage) applications close.
- Applications lodged on or before 31 October 2021 will be processed under current visa settings.
Mandatory Vaccination Required for Travel
From 1 November 2021 anyone who is not a NZ citizen must be fully vaccinated (unless exempt) before travelling to New Zealand. Fully vaccinated means your last dose of vaccine was given at least 14 days before travelling and it was an approved vaccine.
Employer Accreditation
Applications for employer accreditation closed at the end of June 2021. Applications lodged before the closure date are still being processed. New applications for accreditation open on 9 May 2022. The process will be quite different to what employers have experienced in the past. Businesses will need to meet minimum standards.
2021 Resident Visa
Wednesday, 1 December is fast approaching and it is estimated that around 16,000 individuals and families can apply in the first wave for the 2021 Resident Visa opening next month. It is exciting for the thousands of people who have been waiting patiently to become residents that finally the finish line is in sight.
2021 Resident Visa
The first wave of applicants can apply from 1 December 2021. Around 16,000 applications are expected in this first wave. The second wave opens on 1 March 2022. In total, the government expects approximately 110,000 applications that will include about 165,000 people.
2021 Resident Visa
The second group of workers who can apply online for the 2021 Resident Visa that opens on 1 March 2022 are those who hold an eligible work visa and either meet "Settled", "Skilled" or "Scarce" as set out above. In total Immigration NZ estimate around 110,000 people will qualify to apply for this visa.
2021 Resident Visa
The first group of workers who can apply online for the 2021 Resident Visa that opens on 1 December 2021 are those that on 29/09/2021:
- Had lodged a residence application under the Skilled Migrant Category (SMC) or Residence from Work category; OR Had lodged an SMC Expression of Interest (EOI) in the SMC pool that included at least one dependent child aged 17 or above.
2021 Resident Visa
Is this the only requirement to qualify for residence? No. In addition to the eligible work visa criteria workers also need to be regarded as one of the following:
- Settled.
- Skilled.
- Scarce.
2021 Resident Visa
People who were lawfully in NZ (or in Australia when the travel bubble closed between April and July 2021) on 29/09/2021 need to meet the visa eligibility criteria:
- Workers in NZ who held an eligible work visa on or before 29/9/2021 and on the day they apply for residence; OR Applied for an eligible work visa on or before 29/9/2021 and the work visa application is subsequently approved and still hold an eligible work visa on the day they apply for residence.
2021 Resident Visa
The government has introduced a limited pathway to residence for people who are already living and working in New Zealand. Applications open on 1 December 2021 for the first wave of people eligible to apply. The second wave opens on 1 March 2022. The deadline to apply for the 2021 Resident Visa is 31 July 2022.
Critical Purpose Visitor Visas
A small number of critical health workers (taking up jobs for six months or longer) or specialist workers (taking up jobs that are for longer than six months) who were granted border exemptions may also have eligibility for the 2021 Resident Visa. They will need to have arrived in NZ and lodge a 2021 Resident Visa application.
Policy Decision Key Dates in 2022
- July 4. Applications open for the new Accredited Employer Work Visa.
- July 31. Applications for the 2021 Resident Visa close.
- August. Skilled Migrant Residence category scheduled to reopen.
- August. A new pathway to residence for people earning 200% or more of the median wage.
*Excludes high-risk countries.
Policy Decision Key Dates in 2022
- February 13. Fully vaccinated Kiwis plus certain other travellers entering NZ from the rest of the world* can skip MIQ.
- April 30. The border starts a phased reopen to fully vaccinated foreign nationals.
- April 30. The Productivity Commission reports back to the government on immigration settings.
- May 9. Applications open for mandatory Employer Accreditation.
*Excludes high-risk countries.
Work Visa Categories Closing
The work visa categories set to close are:
- Essential Skills Work Visa
- Essential Skills Work Visa – approval in principle
- Work to Residence (Talent – Accredited Employer)
- Work to Residence (Long Term Skills Shortage)
- Silver Fern Job Search Work Visa (closed October 2019)
- Silver Fern Practical Experience Work Visa.
The Green List
In order to address labour shortages in New Zealand's crucial industries the NZ government has implemented a "Green List" of sought-after high-skill occupations. This list offers a prioritised pathway to residency.
There are qualification and/or occupational registration requirements to meet. Occupations are broken down into two tiers:
- Tier 1 - direct pathway to residence
- Tier 2 - requires a period of two years or longer before applying
The recent additions in May 2023 across many sectors can be found here