G5.20 Settlement funds (26/07/1999)

1. Principal applicants may be awarded up to 2 points for settlement funds as follows:

   Settlement fund	Points
   NZ$100,000 (net worth)	1
   NZ$200,000 (net worth)	2

2. Principal applicants must provide evidence of:
   1. funds or assets equivalent to the nominated settlement funds, and
   2. the net worth of those funds or assets.
3. The funds or assets may be owned:
   1. solely by the principal applicant, or
   2. solely by the spouse or partner of the principal applicant, if the spouse or partner is included in the application, or
   3. jointly by the principal applicant and spouse or partner and/or dependent children, if the spouse, partner and/or dependent children are included in the application (the principal applicant may claim the full value of such jointly owned funds or assets for assessment purposes).
4. If funds or assets are held jointly by the principal applicant and a person or persons not included in the application, the principal applicant may only claim the value of that portion of the funds or assets for which they provide evidence of ownership.
5. Principal applicants may include in the total settlement funds the net worth of funds and assets already held in New Zealand.
6. Principal applicants do not have to transfer settlement funds to New Zealand until they have been notified that their application has been approved in principle.

G5.20.1 Requirement for funds to be held in or transferred to New Zealand

Before a residence visa will be issued or a residence permit granted, principal applicants must provide (if applicable):

1. evidence of the net worth of settlement funds held in New Zealand, along with evidence that the funds were originally transferred to New Zealand through the trading bank system to a New Zealand trading bank; and/or
2. evidence that the funds were earned as the result of their employment in New Zealand while they held a valid work permit; and/or
3. evidence that principal applicants have transferred settlement funds of the amount for which points were awarded through the trading bank system to a New Zealand trading bank account and that they hold these funds in New Zealand currency; and/or
4. evidence that funds used to purchase assets in New Zealand were either transferred to New Zealand through the trading bank system or earned lawfully in New Zealand.

G5.20.5 Evidence of settlement funds

1. Principal applicants must provide evidence of the value and ownership of funds. The evidence may include but is not limited to original or certified copies of:
   • bank statements
   • a letter from the bank manager
   • letters from credit agencies
   • mortgages over or title deeds to property, and valuation reports
   • proof of ownership and value of stocks or other assets, and of the amount of debt (if any) owing on any assets.
2. All documents showing the value of assets and the amount of funds currently owned must be less than 3 months old at the time the application is made.

Effective 26/07/1999