BN8.5 Approval in principle

Principal applicants who are assessed as meeting the requirements as set in BN3(a)(i) to (vi) will be advised that:

1. their application has been approved in principle; and
2. resident visas subject to conditions under section 49(1) of the Immigration Act 2009 may be granted once they:
   1. provide acceptable evidence of having transferred and invested nominated funds or funds from the sale of nominated assets, into an acceptable investment to the value of:
      • a minimum of NZ$1 million into listed equities or philanthropy; or
      • a minimum of NZ$500,000 into managed funds; or
      • a minimum of NZ$100,000 into direct investments; and
   2. provide acceptable evidence of having transferred and invested the remainder of the funds required to meet the minimum investment threshold (NZ$15 million or weighted equivalent) from the nominated funds and/or funds from the sale of nominated assets into holding investments (see BN7.5 and BN8.10) and/or acceptable investments (see BN7.10 and BN8.10); and
   3. provide a New Zealand address at which they can be contacted by mail, after they arrive in New Zealand.

Notes:
- Principal applicants will have 6 months from the date of the approval in principle to transfer and invest the funds (see BN8.15) unless BN8.15.1 or BN8.20(d) applies.
- If the actual value, in New Zealand dollars, of the nominated funds and/or funds from the sale of nominated assets is higher than the valuation provided with the resident visa application then the principal applicant is only required to transfer the amount equivalent to what they believe is necessary to undertake the acceptable investments to meet the conditions imposed on their resident visa.

Effective 23/06/2024