Since the relaunch of the Active Investor Plus (AIP) programme in April, the government has received some 200 applications for the fast-track residency initiative, according to Greener Pastures New Zealand. The top three sources of applications were the US with 85, mainland China with 26 and Hong Kong with 24, according to data compiled by the government-recognised AIP advisory and fund manager based in Tauranga, north of the capital, Wellington.
Although investing in residential property does not qualify for the scheme, those whose applications are approved will be able to buy homes for their own use.
Wellington restricted foreign property purchases in 2018 to avoid speculation and keep housing affordable for citizens. Australians and Singaporeans were the only foreign groups allowed to buy homes in the country until recently.
The AIP programme has two investment pathways. The growth category requires a minimum investment of around US$3 million, directed towards New Zealand businesses or managed funds, over a three-year period, requiring just 21 days of presence in the country over that span. The balanced category involves a broader investment scope of US$6 million over five years, with 105 days of presence required.