BI7.25 Withdrawal of funds (04/07/2005)

1. After the first two years of the five-year investment period the principal applicant may request to withdraw up to 50 per cent of the initial investment funds for the purpose of reinvesting those funds in an acceptable investment (see BI7.25.1 below) through an approved business proposal in New Zealand (see BI11).
2. The minimum amount that can be withdrawn at any one time is NZ$200,000, and the funds requested for withdrawal should be rounded up or down as appropriate to the nearest NZ$50,000.
3. A principal applicant may transfer investment funds to more than one acceptable business proposal in New Zealand as long as each business proposal is approved by a business immigration specialist in accordance with the policy in BI11 and no more than 50 per cent is withdrawn from the initial investment.
4. Any withdrawn investment funds must remain in an acceptable investment in New Zealand for the duration of the five-year investment period.
5. Investment funds withdrawn in accordance with the policy in BI11 may not be used for personal use (see BI7.25.5 below). However, the principal applicant may use the income earned from the investment for any purpose.
6. The investment funds may be withdrawn at any time during the five-year period, however, any withdrawal that does not meet the Investor Category requirements will lead to the revocation of the residence visa/permit of the principal applicant and those of their accompanying family members.

BI7.25.1 Definition of ‘acceptable investment’

For the purposes of this policy, an acceptable investment is an investment which:

1. is held by the New Zealand Government, or
2. has been approved in accordance with the policy in BI11 by a business immigration specialist.

   Note: Investment funds may not be used as collateral for any loan during the five-year investment period, unless the money loaned remains within New Zealand and in New Zealand dollars only.

BI7.25.5 Definition of ‘personal use’

Personal use includes, but is not limited to, investment in assets such as a personal residence, car, boat or similar.

Effective 04/07/2005