Build to Rent to join Active Investor Plus Growth category

Eligible Build to Rent developments are due to join the Growth category of the Active Investor Plus Visa in December 2026. For investors considering New Zealand, the change creates another possible route into the programme through approved managed funds.

This is a specific investment option, not a general approval of residential property investment. The fund and development will need to meet the applicable requirements. Immigration New Zealand has said further detail on eligibility, investment structures and implementation will be provided before the change takes effect. Until then no potential funds can apply to join the approved managemed fund list.

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Why the timing matters

As at 24 September 2026, around NZD $5.15 billion has entered the Active Investor Plus investment pipeline or been committed to investment in New Zealand from just over 900 families since the current settings began in April 2025. The figure includes applications still in progress as well as committed capital. It shows the scale of activity in the programme, but it does not mean that amount has already been invested. The top 5 nationalities applying are from the USA, China, Hong Kong, Germany and Taiwan. It is still early days but flow on investment beyond what is required for the investor visa is already flowing into the New Zealand economy.

The Build to Rent announcement comes alongside changes to investment requirements that took effect on 28 September 2026. Managed funds must provide and maintain investment deployment plans. A managed fund or direct investment declined for acceptance as an eligible investment must wait six months before reapplying for that acceptance. Invest New Zealand also has stronger powers to suspend or revoke an investment’s eligibility if it no longer meets programme requirements.

For an investor, the practical question is whether a proposed investment works within the visa category and timetable. A promising development alone does not establish that it will qualify.

Active Investor Plus points to check

• Category and amount: The Growth category requires NZD $5 million invested for three years in approved investments and 21 days spent in New Zealand. The Balanced category requires NZD $10 million invested for five years and 105 days spent in the country. The announced Build to Rent option is for Growth.
• Investment route: Build to Rent investment is expected to be available through approved managed funds. Check the status and terms of the specific fund before relying on it for a visa plan.
• Funds: Be ready to establish that the nominated funds were lawfully earned or acquired and can be transferred to New Zealand through the banking system. This is a failure point for many applicants.
• Timing: After approval in principle, applicants generally have six months to transfer and invest their nominated funds. The intended investment must be completed within the relevant timeframe.
• Ongoing conditions: Growth category investors must maintain acceptable investments for 36 months, Balanced category investors must maintain acceptable investments for 60 months and for both categories the main visa applicant must meet the applicable time-in-New-Zealand requirement.

New Zealand Immigration Partners works with investors and their advisers to align the immigration application, investment selection and transfer timetable. If Build to Rent is part of your New Zealand plans, speak with our investor team before committing to a structure or application timetable.