What New Zealand’s Active Investor Plus programme means for fund managers.
New Zealand’s Active Investor Plus (AIP) programme is generating significant interest from high-net-worth investors worldwide, creating a growing pipeline of capital seeking deployment into the New Zealand market. Since the programme settings were updated, investor demand has accelerated, particularly within the Growth category, and the volume of committed capital is beginning to have a visible impact on the investment landscape.
For fund managers, this represents a clear and timely opportunity. The number of managed fund structures aligned to the AIP framework remains relatively limited, and managers who establish compliant, well-governed structures are well placed to attract international capital entering the programme.
AIP by the numbers
Recent data from Immigration New Zealand illustrates the scale of activity within the programme. As of mid-February 2026, 573 total applications had been submitted under the new settings, covering approximately 1,833 investors. Of these, 468 relate to the Growth category and 105 to the Balanced category, meaning Growth accounts for approximately 82% of all AIP applications.
The capital pipeline stands at approximately NZD 3.39 billion in committed investment, with around NZD 1.05 billion already deployed into New Zealand. A total of 430 approvals in principle have been granted, 358 in the Growth category and 72 in the Balanced category, while 182 resident visas have been issued to date. The average processing time to approval in principle is approximately 25 working days.
Investor demand is global in nature. Around 40% of applicants originate from the United States, with strong participation from China, Hong Kong and other high-net-worth markets across Asia and Europe.
Why the Growth category is driving demand
The AIP programme offers two investment pathways. The Growth category requires a minimum investment of NZD 5 million over at least three years, with applicants spending only 21 days in New Zealand during this period. The Balanced category requires NZD 10 million invested over five years across a broader range of asset classes.
Since the programme update, the Growth category has become the preferred pathway for the majority of applicants. The lower minimum investment threshold and focus on direct investment into New Zealand growth assets makes it particularly attractive to globally mobile investors seeking both immigration outcomes and market exposure. As a result, demand for Growth category-aligned managed funds has increased as investors look for structured vehicles through which capital can be deployed.
With NZD 3.39 billion committed and more than NZD 1 billion already deployed, the programme’s impact on the investment landscape is becoming increasingly clear. For fund managers, the opportunity lies in establishing well-structured Growth funds capable of absorbing this capital and deploying it effectively within the New Zealand economy. Managers who combine strong governance with efficient compliance and administration are well positioned to participate as this market develops.
How Acclime can help with AIP-aligned fund setup and operations
Acclime New Zealand supports fund managers across the full lifecycle of AIP-aligned managed funds, from initial structuring and regulatory approval through to ongoing operations and governance. This includes support with AIP and Invest NZ approval processes, fund structuring and documentation, AML framework setup, fund administration, accounting and investor reporting, taxation compliance and ongoing regulatory support. By managing these operational and compliance requirements, managers are able to focus on investment strategy and capital deployment.
Acclime also maintains close visibility of developments within the AIP programme and the broader regulatory environment. Graham Lawrence is actively involved with Invest NZ, which sets the AIP guidelines, giving Acclime direct insight into how programme settings are evolving and ensuring clients are well positioned to respond. Contact Acclime to discuss how we can support your fund.
