After we grant you (and your family) resident visas under the Parent Retirement Category, there are some conditions that you will have to meet. These are conditions under section 49(1) of the Immigration Act 2009 – we call them 'Section 49(1) conditions'.
You need to retain your investment funds in an acceptable investment in New Zealand. The investment period is four years. The investment period begins from the date you complete the investment of your nominated investment funds. However, if your investment funds are already in acceptable investments in New Zealand at the date we approve your application in principle, the investment period commences from that date.
You may change your investments during the investment period provided your investment funds continue to meet all requirements for acceptable investments.
Because we need to contact you at several stages of this process, you need to let us know of any changes to your contact details.
We will write to you three months before the second anniversary of your investment period to remind you to provide evidence that you have retained acceptable investment(s) in New Zealand for the first two years of the investment period (see evidence you have retained acceptable investment).
You must provide this evidence within three months of the second anniversary of your investment period.
When you have satisfied us that you have met these requirements and you have held a resident visa for at least two years, you and your family members included in your application will be eligible for a variation of travel conditions on your resident visa. The variation of travel conditions is valid for up to two years. Within this period, you and your family members may travel outside New Zealand and re-enter as a resident.
If you do not satisfy these requirements, you and your family members included in your application may be liable for deportation under section 159 of the Immigration Act 2009.
We will write to you three months before the end of your investment period to remind you to provide evidence that you have retained acceptable investment(s) in New Zealand for the remaining time of your investment period (see evidence you have retained acceptable investment).
When you have satisfied us that you have met these requirements you will be eligible for a permanent resident visa [hyperlink to glossary term] for yourself and your family members included in your application.
