BJ7.20 Timeframe for investing funds in New Zealand (25/07/2011)

1. Principal applicants must meet the requirements for transferring and investing the nominated funds within 12 months of the date of the letter advising of approval in principle.
2. Applications for a resident visa must be declined if principal applicants do not present acceptable evidence of having transferred and invested the nominated funds within 12 months (or up to a maximum of 24 months for Investor 1 applicants, or 18 months for Investor applicants if an extension is granted, see BJ7.20.1 below) from the date of approval in principle.

BJ7.20.1 Extending the timeframe for investing funds in New Zealand

1. Principal applicants may request an extension to their transfer and investment period (see BJ7.20) for up to a further 12 months for Investor 1 applicants, or 6 months for Investor 2 applicants.
2. If a principal applicant wishes to request an extension to the timeframe for transferring and investing the nominated investment funds to New Zealand they must contact the Business Migration Branch of Immigration New Zealand within 12 months of the date of the letter advising of approval in principle and present evidence of reasonable attempts to transfer the nominated investment funds to New Zealand.
3. Following a principal applicant’s presentation of evidence a business immigration specialist may:
   1. grant an extension to the transfer and investment period if they believe the evidence shows the principal applicant has made reasonable attempts to transfer and invest nominated investment funds within the 12 month time period; or
   2. decline to grant an extension to the transfer and investment period if they believe the principal applicant has not made reasonable attempts to transfer and invest nominated investment funds within the 12 month time period.

Effective 25/07/2011