F3.30 Resident visas (29/11/2010)

F3.30.1 Grant of resident visas

1. Residence visas may only be granted once principal applicants have:
   1. met the transfer requirements set out at F3.25.10; and
   2. placed the funds into an acceptable investment; and
   3. paid any applicable migrant levy (see R5.90).
2. Residence visas will be granted subject to the conditions imposed under section 49(1) of the Immigration Act 2009 in accordance with the instructions set out at F3.30.10.

F3.30.10 Resident visas subject to conditions under section 49(1) of the Immigration Act

See also Immigration Act 2009 s 49

Under the Parent Retirement Category, a resident visa granted to a principal or secondary applicant is subject to the following conditions imposed under section 49(1) of the Immigration Act 2009:

1. that the principal applicant retains an acceptable investment in New Zealand for a minimum of four years under the Parent Retirement Category; and
2. that the principal applicant informs the nearest branch of INZ of any changes of New Zealand address during the investment period; and
3. at the two-year anniversary of the investment period, the principal applicant submits evidence that they are retaining an acceptable investment in New Zealand; and
4. that within 3 months after the expiry date of the investment period, the principal applicant submits evidence to INZ that they have met requirement (a).

F3.30.15 Investment transfers during the investment period

Investment funds may be transferred from one investment to another during the investment period, provided:

1. the funds remain invested in New Zealand in New Zealand currency at all times during the investment period; and
2. the investment of the funds continues, during the investment period, to meet all other requirements for investments.

Effective 29/11/2010