Forcing investors to "be somewhere they don't want to be" is a barrier to attracting people, the Immigration Minister says.

Investors will only have to remain in New Zealand for 21 days over three years to gain residency under changes to the so-called ‘golden visa’ to attract wealthy investors to New Zealand, Immigration Minister Erica Stanford says.

From 1 April, the Active Investor Plus visa will be replaced with two, simplified investment categories.

The first, the ‘Growth’ category, will focus on higher-risk investments, including direct investments in New Zealand businesses.

It will require a minimum investment of $5 million for a minimum period of three years.

The second, the ‘Balanced’ category, will focus on mixed investments, with the ability to choose ones that are lower risk.

There will be a minimum investment of $10 million over five years.