BK8.10 Transfer of the nominated invested funds (26/11/2007)

1. When their application is approved in principle, the principal applicant will be required to transfer the nominated investment funds to New Zealand. These funds must:
   1. be the funds initially nominated, or the funds that result from the sale of the same assets as those initially nominated, in the residence application; or
   2. be funds, in the case of the Professional or Global Investor Categories, as agreed to by a business immigration specialist, secured against the nominated assets in the residence application and as approved in accordance with (b) below; and
   3. be transferred through the banking system directly from the principal applicant's bank account(s) to New Zealand.
2. Under the Professional or Global Investor Categories, a business immigration specialist may consider, on a case by case basis, borrowed funds as acceptable investment funds where the principal applicant is able to demonstrate that:
   1. they own net assets equal or greater in value to the required investment amount; and
   2. the borrowed investment funds will be from a bank or commercial lending institution acceptable to a business immigration specialist and will be secured against the assets identified under (b)(i) above; and
   3. it is not economically viable or practical to liquidate the nominated assets. eg sell a business.
3. The investment funds that are transferred to New Zealand and subsequently into an acceptable investment must be from the same source of funds as nominated in the residence application.

Note: Nominated funds held in a country other than the country in which they were earned or acquired legally must have been originally transferred through the banking system from that country.

Effective 26/11/2007