BN8.15 Timeframe for transferring and investing nominated funds and/or funds from the sale of nominated assets

1. Principal applicants must meet the requirements for transferring and investing the nominated funds or funds from the sale of nominated assets:
   1. within 6 months of the date of the letter advising of approval in principle; or
   2. within the timeframes set out in BN8.15.1(c)(i) or BN8.20(d) if the timeframe extension is granted.If a principal applicant does not meet the relevant timeframe requirement in (a) above, the application must be declined.
2. Principal applicants must provide acceptable evidence of having transferred and invested the nominated funds or the funds from the sale of nominated assets no later than three months after the expiry of the timeframe to transfer and invest the funds (see BN3(a)(vii) and (viii)).

BN8.15.1 Extending the timeframe for transferring and investing nominated funds and/or funds from the sale of nominated assets

1. Principal applicants may request an extension of up to 6 months to the timeframe for transferring and investing nominated funds and/or funds from the sale of nominated assets.
2. Principal applicants must contact Business Migration of Immigration New Zealand within 6 months of the date of the letter advising of approval in principle, and present evidence of reasonable attempts to liquidate assets and transfer the nominated funds or funds from the sale of nominated assets to New Zealand.
3. A business immigration specialist may:
   1. grant an extension, for a total of up to 12 months from the date of approval in principle, to the transfer and investment period if they believe the evidence shows the principal applicant has made reasonable attempts to transfer and invest nominated funds or funds from the sale of nominated assets within the 6-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 funds or funds from the sale of nominated assets within the 6-month time period.

Effective 19/09/2022