BI2 Overview (04/07/2005)

1. A person who is interested in applying for residence under the Investor Category must complete an Expression of Interest form in the prescribed manner.
2. People who submit Expressions of Interest which meet prerequisites for health, character, English language, age, investment funds, and business experience may be invited to apply for residence under the Investor Category by being issued an Invitation to Apply for residence under the Investor Category, subject to:
   1. an assessment of the credibility of the information provided in the Expression of Interest, and;
   2. whether the Expression of Interest indicates the presence of any health or character issues that may adversely affect the ability of the person expressing interest to be granted residence under the Investor Category; and
   3. whether it appears that the person expressing interest will not meet the Investor Category criteria.
3. A person expressing interest must nominate the source of funds they intend to use as their investment funds in New Zealand.
4. Only a person invited to apply may apply for residence under the Investor Category.
5. If a person is invited to apply, information provided in the Expression of Interest, and any further evidence, information and submissions (including information concerning ability or potential to successfully settle in and contribute to New Zealand), will form the basis for determination of a subsequent application for residence under the Investor Category.
6. Applications for residence, resulting from an Invitation to Apply, must include:
   1. information and evidence to support the claims made in the Expression of Interest; and
   2. information concerning any relevant fact (including any material change in circumstances that occurs after the Expression of Interest was submitted) if that fact or change in circumstances could affect the decision on the application. Such a relevant fact or change in circumstances may relate to the principal applicant or another person included in the application, and may relate to any matter relevant to the Investor Category.
7. Applications will be assessed against policy set out in sections BI4 to BI9 of the Investor Category.
8. Principal applicants under the Investor Category will be assessed against:
   1. personal requirements (age, health, character and English language); and
   2. investment funds and business experience requirements; and
   3. settlement and contribution requirements.
9. This assessment may result in:
   1. an approval in principle; or
   2. a decline of the residence application.
10. If an application is approved in principle the principal applicant will be required to:
    1. transfer their nominated investment funds into their New Zealand bank account; and
    2. provide a completed ‘Placement of Advance with Government in New Zealand’ contract; and
    3. transfer the nominated investment funds into the designated Government account before a residence visa/permit is issued.
11. If residence is granted under the Investor Category;
    1. the residence visa/permit and returning resident’s visa will be issued to a principal applicant and accompanying partner and dependent children subject to requirements imposed under section 18A of the Immigration Act 1987 (see BI10.10 and BI10.15).
    2. The investment funds will be held by the Government for a period of five years from the date the total funds were deposited into the designated Government account.
12. Principal applicants may make a request to transfer up to half of the investment funds after an initial period of two years from the date the total funds were transferred to the Government. The withdrawal of funds will only be approved if the principal applicant demonstrates to a business immigration specialist’s satisfaction that the investment funds will be used towards an acceptable business proposal as set out in section BI11.
13. At the end of the five-year investment period, principal applicants will need to submit evidence that they have met the conditions imposed under Section 18A in order to have the conditions lifted.
14. If the principal applicant wishes to withdraw any of the investment funds other than in accordance with policy BI11 the residence visa and permit of the principal applicant and any accompanying partner and/or dependent children will be revoked, as the requirements imposed under section 18A of the Immigration Act 1987 will not have been met.

Note: The Government account which will receive the investment funds will be primarily managed by the Treasury.

Effective 04/07/2005