BI12.5 Retention of acceptable investment (04/07/2005)

1. The principal applicant will need to show that they have retained an acceptable investment of NZ$2 million in New Zealand for five years as specified in BI7 and BI11.
2. Principal applicant’s who have not withdrawn any funds during the term of their investment will not be required to provide any evidence of the acceptable investment.
3. Principal applicants who have withdrawn funds for investment in an acceptable business proposal will need to provide the following:
   1. evidence that the business they have established is the same as the business they obtained approval for; and
   2. evidence that they have established the business in New Zealand with the funds withdrawn from those held by the Government; and
   3. evidence that the value of the established business is equivalent to, or more than, the amount of funds withdrawn to establish the business; and
   4. evidence that the funds have stayed in New Zealand during the entire investment period.
4. Suitable evidence will include documentation from a New Zealand Chartered Accountant, who is independent of the applicant or the applicant’s agent, stating:
   1. the full name of the business owner; and
   2. the full valuation of the business; and
   3. the date the business was established; and
   4. documentation that demonstrates that the business is a going concern.
5. If the principal applicant has established more than one business this information should be provided for each of the businesses.

Effective 04/07/2005