Migrants on the so-called golden visa will soon be allowed to invest in funds that support long-term rental housing developments.
The Active Investor Plus visa ‘growth’ category requires a minimum investment of $5 million.
From December, applicants will be able to include build-to-rent housing developments as part of their overall investment in New Zealand.
As it stands they can make direct investments, invest in managed funds, or make donations (which cannot exceed 20 percent of the total amount invested).
Immigration Minister Erica Stanford said it would help people make a meaningful contribution to the economy.
“The growth category is particularly focused on investment that supports business growth, innovation and productivity,” she said.
“Adding Build to Rent gives investors another option, while keeping that focus through the managed funds model.”
Housing Minister Chris Bishop said it would help boost the country’s housing stock.
“Build to Rent can add to rental supply over time, while the managed funds model provides clear safeguards around who manages the investment and how developments are delivered,” he said.
Direct investment in build-to-rent developments would not be accepted.
In April 2025 the government updated the Active Investor Plus visa settings to create two categories: growth (at least $5 million investment for at least three years) and balanced (at least $10 million investment for at least five years).
Since then, there had been $5 billion invested across more than 900 applications, the government said.
More than 80 percent of applications were under the growth category.