Immigration New Zealand (INZ) has tightened the source‑of‑funds rules for the Active Investor Plus (AIP) visa, mandating that any borrowed money and gifted capital be traceable to the same jurisdiction as the assets backing the application and that the donor’s local laws be respected.
Borrowing requirements
- Lender qualification – The loan must come from a bank or regulated commercial lending institution acceptable to a business‑immigration specialist. Loans from unregulated entities are excluded.
- Security – The loan must be secured against the nominated assets.
- Jurisdiction match – Borrowed funds must be held in the same country or jurisdiction as the assets securing them.
- Change‑of‑circumstances test – Applicants must demonstrate that the loan was taken because of circumstances beyond their control, and that liquidating, transferring, or investing the assets would not be economically viable or practical.
Gifted capital rules
- Geographic restriction – Money gifted from within New Zealand cannot be used, either as existing funds or as funds that have ever been in the country during the investment period.
- Unconditional gift – The gift must be unconditional and comply with the donor’s domestic laws.
- Documentation – Required evidence includes gifting certificates, bank statements showing receipt, and proof of how the donor earned or acquired the money.
- Exclusion of NZ‑based trusts or accounts – A relative’s distribution from a New Zealand trust or bank account does not satisfy the requirement.
Managed‑fund concession
Previously, AIP applicants had to sign a non‑revocable agreement with a fund manager before any capital call. The new rules accept a standard legally binding agreement, giving investors flexibility to contract on ordinary commercial terms.
Children born after visa approval
Secondary visas can now be granted to children born after the primary investor’s visa is approved, provided:
- The child is a dependent of an AIP, Investor 1, or Investor 2 resident visa holder.
- The child holds a Dependent Child Resident Visa based on that relationship.
- The child has entered New Zealand on that visa.
Program performance (as of 23 July 2026)
- Applications: 837 (covering 2,732 people) since the April 2025 relaunch.
- Approvals: 395 granted, 285 approval‑in‑principle, 139 still under assessment.
- Capital: NZ$4.845 billion (≈US$2.85 billion) pledged; NZ$2.3 billion (≈US$1.35 billion) already landed.
- Categories:
- Growth (NZ$5 million over three years) – 710 applications.
- Balanced (NZ$10 million over five years) – 127 applications.
- Top source markets: United States (277 applications, 838 people), China (156), Hong Kong (110), Germany (56).
- Processing time: Average 36 working days once investment documentation is received.
Recent policy shifts
- December 2025: Discretionary Investment Management Services (DIMS) removed as an approved channel.
- June 1 2026: Philanthropic route introduced for Growth applicants.
- April 2026: Scheduled program review announced (no details released in the August update).
- March 6 2026: AIP holders exempted from the foreign‑buyer ban for homes priced above NZ$5 million.
- Investment mix: Direct business investment accounted for only NZ$20.4 million (≈US$12 million) of the NZ$1.48 billion committed capital in the first year (about 1.4%).
The changes do not alter the NZ$5 million or NZ$10 million investment thresholds; they raise the evidentiary standards for where the money originates and how it is transferred.
Source article: www.imidaily.com
