BJ3.15 Definitions (19/06/2017)
BJ3.15.1 Growth investments
For the purposes of these instructions, growth investments are defined as acceptable investments, see (BJ3.10.25), other than:
- bonds; and
- philanthropic investments.
Note: For the purpose of growth investments, convertible notes are considered to be bonds.
BJ3.15.5 Commercial Property
For the purposes of Investor 1 Category instructions, commercial property is considered to be an acceptable investment if:
- the property(ies) is not residential or for domestic use; and
- the property(ies) is used for business purposes, in that it is:
- capable of a commercial return; and
- not used for land banking ; and
- the purpose of the commercial property investments must be to make a commercial return on the open market; and
- neither the family, relatives, nor anyone associated with the principal applicant may reside in the development; and
- if a new development, the property(ies) must have been approved and gained any required consents by any relevant regulatory authorities (including local authorities).
Note: Commercial property can include empty land if plans for development are submitted to regulatory authorities and/or work has commenced.
BJ3.15.10 Philanthropic Investments
- For Philanthropic investments to be considered acceptable, a Business Immigration Specialist must be satisfied the investment is genuine (see (b) below) and is in:
- a registered charity with at least two years annual returns and Inland Revenue donee status; or
- a not-for-profit organisation that provides social, cultural or economic benefits approved by the Business Migration Branch Operations Manager.
- In determining whether a philanthropic investment is genuine, the factors a Business Immigration Specialist may consider include, but are not limited to:
- the length of time the entity has been operating; and
- the constitutional arrangement of the entity; and
- the entity’s track record.
- A maximum of 15 percent of total investment funds can be invested in philanthropic donations.