BJ2.5 Residence visas/permits subject to requirements

Immigration Act 1987 s 18A(1), (2)

1. Under the Migrant Investment Policy (MIP), a residence permit is granted to a principal applicant and accompanying partner and dependent children with requirements imposed under section 18A of the Immigration Act 1987. All residence visas or returning residence visas issued under this policy must specify that the following requirements will be imposed under section 18A on the holder of a residence permit granted under this policy.
2. The MIP requirements are that:
   1. the principal applicant retains an acceptable investment in New Zealand for a minimum of three years (Investor 1 Category) or four years (Investor 2 Category) and spends a minimum period of time in New Zealand during the required investment period (see BJ9); and
   2. the principal applicant informs the nearest branch of INZ of any changes of New Zealand address during the required investment period; and
   3. a principal applicant who was awarded 1 point for English language ability (IELTS 3) under the Investor 2 Category, must complete a minimum 20 hours of English language tuition with a New Zealand Qualifications Authority (NZQA) registered education provider in New Zealand within the four year investment period; and
   4. at the two-year anniversary of the investment period, the principal applicant submit evidence that they:
      • are retaining an acceptable investment in New Zealand; and
      • meeting minimum period of time in New Zealand requirements; and
   5. within 3 months after the expiry date of the required investment period, the principal applicant submit evidence to INZ that they have met requirement (i) and (iii) if applicable.
3. Any accompanying partner and dependent children of a principal applicant issued with a residence visa or granted a residence permit will be subject to the requirement that the principal applicant comply with the requirements of their visa or permit.

BJ2.5.1 Imposing requirements

1. Principal applicants are advised of the requirements imposed in a letter that states:
   1. the requirements; and
   2. that failure to comply with the requirements may result in the revocation of the permit under section 20(1)(d) of the Immigration Act 1987; and
   3. that the requirements will continue to apply while any returning resident's visa issued is still current; and
   4. that the requirements will apply to any residence permit granted on the applicant's return to New Zealand, within the required investment period.
2. The letter will also specify the date on which the required investment period begins (see BJ7.25).

Effective 27/07/2009