BN6.15 Funds and/or assets already held in New Zealand

1. Funds and/or assets held in New Zealand at the time the application is made may be included as nominated funds and/or assets, except where BN6.5(c) applies, and are otherwise subject to all requirements under these instructions unless otherwise specified.
2. The value of the funds and/or assets held in New Zealand is determined according to its market value at the time the application was made, not the original purchase price.
3. Periods of investment in New Zealand before approval in principle cannot be taken into account when calculating the 48-month investment period.
4. Funds and/or assets already held in New Zealand must meet the requirements in BN8.10.
5. Funds and/or assets held in New Zealand for more than two years before the application was made do not need to meet the requirements at BN8.10(c)(i) or (ii) but the funds and/or assets must originally have been transferred to New Zealand through the banking system or foreign exchange company from the country or countries in which they were legally earned or acquired, or have been earned or acquired lawfully in New Zealand.

Note: If the nominated assets held in New Zealand meet the requirements at BN3(a)(vii) and (viii), the principal applicant is not required to sell the nominated assets to meet the requirements at BN8.10(a) and (b)(i).

Effective 09/12/2022