New Zealand’s Active Investor Plus visa will allow Growth‑category applicants to count Build‑to‑Rent (BTR) projects toward the NZ$5 million investment requirement starting December 2026. The change, announced on 8 September by Immigration Minister Erica Stanford, Housing Minister Chris Bishop and Building and Construction Minister Simon Watts, expands the “Growth” tier—previously limited to business‑related investments—by adding a managed‑funds property option.
Key points of the amendment
- Eligibility – Only the Growth category of the Active Investor Plus visa (NZ$5 million over four years) can use BTR developments to satisfy the investment threshold.
- Fund structure – Investments must flow through a fund approved by Invest New Zealand; direct ownership of the development is prohibited and applicants and their families cannot reside in the property.
- Management safeguards – The managed‑funds model imposes standards on fund capability, governance and delivery, providing oversight of who controls the capital and how projects are executed.
- Implementation timeline – Immigration New Zealand will release detailed eligibility criteria, approved investment structures and implementation timeframes before the December 2026 start date.
Rationale from ministers
- Erica Stanford emphasized that the Growth tier is intended to support “business growth, innovation and productivity,” and that adding BTR “gives investors another option while keeping that focus through the managed funds model.”
- Chris Bishop highlighted the country’s housing shortage, noting the need for “more long‑term rental homes that are purpose‑built for renters” and describing BTR as a way to “unlock more investment into the homes New Zealand needs to grow.”
- Simon Watts framed the amendment as aligning investment policy with construction goals, describing it as “building the future” by drawing capital and talent into the sector.
Operational details
- Fund oversight – Invest New Zealand, represented by Simone Robbers (acting director of Active Investor Plus investments), does not set fixed deployment timelines for approved funds but retains the authority to suspend any that fall behind schedule.
- Publication of rules – The immigration department will publish the full set of requirements and standards, ensuring that approved funds meet criteria for capability, governance and project delivery.
Context within the broader investor program
- The Balanced category (NZ$10 million over five years) already permits investment in new residential, commercial and industrial properties.
- Since the program’s relaunch in April 2025, more than 900 applications have been received, representing roughly NZ$5 billion in approved or pipeline investment. Over 80 % of those applications have been for the Growth tier, which until now lacked a property investment option.
The addition of Build‑to‑Rent to the Growth tier aims to increase the supply of purpose‑built rental housing while maintaining the program’s focus on productive, managed‑fund investments.
Source article: www.imidaily.com
