BB5.1 General rules for approval in principle and transfer of funds (26/07/1999)

Principal applicants who obtain a points pass mark under the Investor category will be advised that:

1. their application has been approved in principle; and
2. residence visas/permits may be issued or granted once principal applicants:
   1. provide acceptable evidence of having transferred and invested the nominated funds in accordance with the relevant policy requirements; and
   2. provide a New Zealand address at which they can be contacted by mail, after they arrive in New Zealand; and
   3. pay any applicable migrant levy and settlement information fee; and
   4. submit evidence that any applicant aged 16 or over meets the English language requirement; and
3. residence visas/permits will be issued or granted subject to requirements under section 18A of the Immigration Act 1987.

BB5.1.1 Time frame for investing funds in New Zealand

1. Principal applicants do not have to:
   1. transfer investment funds to New Zealand, or
   2. invest funds already held in New Zealand, until their application has been approved in principle.
2. Principal applicants must meet the requirements for investment funds within 12 months of the date of the letter advising of approval in principle.

BB5.1.5 Interim temporary visa/permit to arrange transfer/investment of funds

1. After approval in principle, a work visa may be issued or a work permit granted (once an application has been made) to allow the principal applicant to arrange the transfer to, and investment of funds in, New Zealand.
2. The work visa will be valid for multiple entries to and for travel and stay in New Zealand, for 12 months after approval in principle has been given.
3. Visitors' visas/permits for the same period may be issued or granted (once an application has been made) to the principal applicant's spouse or partner and dependants (see W3.115)
4. Student visas/permits for the same period may be issued or granted (once an application has been made) to those of the principal applicant's dependants who wish to study, in accordance with current student policy (see W3.115).

BB5.1.10 Failure to transfer and invest funds

Applications for residence must be declined if principal applicants do not present acceptable evidence of having transferred and invested the nominated funds within 12 months from the date of approval in principle.

Effective 26/07/1999