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New transitional policy under Investor 2 lets applicants choose which version of the policy to use Wednesday, 21 June 2017

Recent changes to the Investor 2 Category allow people with applications or invitations to apply to choose whether they want to be assessed under the current or the previous version of the policy.

The Investor Categories changed on 22 May 2017 to put in place incentives for applicants to invest more of their funds in growth investments. Changes have just been made to allow Investor 2 applicants and people who were invited to apply under the previous policy to choose whether they would like to be assessed under the version of the policy from before 22 May or the current version. 

Comparison of the current and previous policy

Each person will need to consider whether the current or the previous policy is better for them given their individual circumstances. The advantage of being assessed under the current version of the policy is that visas can be granted with conditions allowing a greater degree of flexibility with regards to the time the person is required to spend in New Zealand, provided they invest a minimum of $750,000 in growth investments.  However, the current version of the policy requires a minimum investment of $3 million, compared with the previous minimum investment of $1.5 million.

The table sets out the differences between the requirements of two versions of the policy for current Investor 2 applicants and people who were invited to apply under the previous policy.

Requirement Investor 2 policy
BEFORE 22 May 2017
Investor 2 policy
AFTER 22 May 2017

Minimum investment amount

$1.5 million

$3 million

Settlement funds

$1m

$0

Time required to be spent in New Zealand after the grant of a visa

40% of each of final 3 years of the 4 year investment period (146 days per year)

40% of each of final 3 years of the 4 year investment period (146 days per year)

or

438 days over 4 years if minimum of $750,000 is invested in ‘growth investments’ (investments other than bonds or philanthropic investments)

 

Additional evidence you must supply

You must show evidence supporting the claims you made in your expression of interest with regards to:

  • English language
  • business experience
  • investment funds

You must show evidence1 of:

  • 3 years of business experience
  • meeting minimum English language requirements (an IELTS overall score of 3.0)
  • investment funds as claimed in your expression of interest, if you claimed more than $3 million

 

Next steps

Over the next two weeks, affected people and their representatives will be contacted by email and given instructions on what to do to indicate which version of the policy they would like to use. The email will be a further Invitation to Apply (ITA). People who have already applied will need to make a new application if they want to switch to a different policy, however the fee for further applications will be waived and the applicant will only need to provide the documents required to show the person meets the additional requirements of the new policy.


More information for different groups of people who will be asked to choose between previous and current versions of Investor 2 Category

People who had a valid invitation to apply on 22 May, but have not yet made an application

You will be provided a further  ITA that asks you to choose which version of the policy you would like to use in your application.  In order to give you enough time to make the decision, the new ITA will expire one month after the date of your previous ITA. The ITA will include links to both the current and the previous version of the application form. When you make your application, you indicate your choice by using the relevant version of the application form. You will have to provide all the supporting documents required by either the previous or the current policy as indicated by the relevant form.   

People who made an application after 22 May 2017 but were originally invited to apply under the previous version of the policy

You will be provided a further ITA that asks you to choose which version of the policy you would like to be assessed under.

If you wish to be assessed under the current policy, you will have to complete the new version of the application form and send it to the Business Migration Branch.  The new version of the form will be provided to you in the ITA. You do not have to pay an additional application fee or provide any documents that you have already provided. However, if your original documentation provided evidence of an investment amount less than the new minimum of $3million, you will be required to provide additional evidence for the difference. 

If you wish to be assessed under the previous policy, you will be provided the form you have already submitted and be required to sign and date it again, then send it back to the Business Migration Branch. You will not be required to provide a new fee or any additional documentation.  Please note this further ITA will be valid for one month.

People who made an application under the previous policy before 22 May 2017 and still have an application in process (including people who have been issued an approval in principle)

You will be provided a new ITA inviting you to apply under the current policy. You will have one month to decide if you would like to continue under the previous policy or be considered under the current policy.

If you wish to be assessed under the new policy, you will have to complete the new version of the application form and send it to the Business Migration Branch.  The new version of the form will be provided to you in the ITA. You do not have to pay an additional application fee or provide any documents that you have already provided. However, if your original documentation provided evidence of an investment amount less than the new minimum of $3 million, you will be required to provide additional evidence of the difference. 

The new ITA will be valid for one month. If we don’t hear from you, your application will continue to be assessed under the previous version of the policy. 

  1. This evidence is specific to people invited to apply before 22 May 2017. Any person invited to apply after that date will be required to show evidence of the claims they made in their expression of interest.