Investor 1 Resident Visa

At a Glance

Item	Details
Visa name	Investor 1 Resident Visa
Visa status	Closed to new applicants
Closure date	28 July 2022
Replacement visa	Active Investor Plus Visa
Stay	Residence, subject to conditions
Investment requirement	NZD $10 million, three years
Eligibility timing	No new applications accepted
Cost	Country-dependent; not displayed
Processing	Country-dependent; not displayed
Work rights	Live, work and study
Study	Permitted
Medicare	Not stated in the source
Travel facility	Normally two years initially
Citizenship	Not stated in the source
Family sponsorship	Partner and dependent children included
Eligible children	Aged 24 or younger
Visa record	Resident visa
Permanent residence	Available after conditions met

---

Purpose and status

The Investor 1 Resident Visa allowed people investing NZD $10 million in New Zealand to apply for residence.

It closed to new applicants on 28 July 2022 and was replaced by the Active Investor Plus Visa on 19 September 2022.

Historical eligibility requirements

Applicants had to:

• Be a fit and proper person.
• Have NZD $10 million to invest in New Zealand for at least 3 years.
• Transfer investment funds to New Zealand.
• Show funds were earned or acquired lawfully.
• Meet identity, health, character and other visa requirements.

Investment funds

Investment funds:

• Could not be borrowed or secured by a loan or bond.
• Had to be transferred directly from the applicant’s bank account through the banking system.
• Had to be invested in acceptable New Zealand investments for at least 3 years.

Jointly owned funds could be counted as follows:

• With dependent children: full value could be claimed.
• With a recognised partner: full value could be claimed.
• With another person: only the applicant’s ownership share could be claimed.

If approved in principle, applicants had 12 months to transfer and invest funds. Immigration New Zealand could allow a further 12 months where reasonable steps had been taken.

Citizens of China had to meet Chinese currency-exchange and transfer requirements.

Lawful source of funds

Applicants had to provide evidence that funds were lawfully earned or acquired. Evidence could include:

• Tax returns or certificates.
• Payslips and business financial statements.
• Shareholdings, dividends or trading profits.
• Property-sale receipts.
• Bank certificates.
• Evidence of gifts or inheritances.

Gifted funds were acceptable only where the gift was unconditional and lawful, and the original funds were lawfully earned or acquired.

Required evidence

Identity

Provide:

• Two acceptable head-and-shoulders photographs.
• Original passport or certified passport/certificate-of-identity copy.
• Original or certified full birth certificate.

Immigration New Zealand could request the original passport if a certified copy was provided.

Health and character

Applicants had to provide:

• A medical examination and chest X-ray.
• Police certificates for applicants and included family members aged 17 or older.

Police certificates were required from:

• Every country of citizenship; and
• Any country lived in for 12 months or more during the previous 10 years.

Certificates had to be less than six months old when applying. Non-English certificates required an English translation.

Fit and proper person

Applicants had to confirm that businesses they influenced complied with immigration, employment and taxation laws. They also had to have:

• No Serious Fraud Office or New Zealand Police investigation arising from business dealings.
• No dishonesty convictions.
• No involvement in business fraud or financial impropriety.

Acceptable investment evidence

Documents from a trusted professional, such as a chartered accountant or solicitor, had to confirm:

• Applicant’s full name.
• Amount invested in NZD.
• Investment start date and type.
• Invested organisation names.
• Number of shares or bonds purchased.

Family provisions

Applicants could include their:

• Partner; and
• Dependent children aged 24 or younger.

They had to show genuine relationships and provide relationship evidence, such as marriage and birth certificates. Included family members also had to meet applicable identity, health and character requirements.

A partner or dependent child who held, or had applied for, a New Zealand temporary visa based on the principal applicant’s relationship had to be included in the residence application.

Included family members had to travel to New Zealand within 12 months of visa grant. Otherwise, they had to reapply for residence.

Visa conditions

Maintain the investment

Visa holders had to keep NZD $10 million in acceptable New Zealand investments for 3 years.

Immigration New Zealand requested evidence at the end of the second and third years. Visa holders had 3 months to provide it.

Funds could be transferred between acceptable investments.

Time in New Zealand

Visa holders had to spend either:

• 44 days in New Zealand in each of the last two years of the three-year investment period; or
• 88 days at any time during the three-year period, if at least NZD $2.5 million was invested in growth investments.

Evidence was requested at the end of the second and third years, with three months to provide it.

Contact details

Visa holders had to provide their address and contact details, and notify Immigration New Zealand of changes. Failure to confirm compliance could prevent continued stay in New Zealand.

Entry permission

On arrival, visa holders had to apply for entry permission by completing a New Zealand Traveller Declaration (NZTD).

Entry permission could be refused if the holder:

• No longer met character requirements.
• Had changed circumstances since visa issue.
• Refused requested biometrics, including a photo, fingerprints or iris scan.

Travel

Visa holders could generally travel in and out of New Zealand for the first 2 years of the investment period.

After meeting conditions applying during the first two years, they could apply for a variation of conditions granting another two years of travel.

If travel conditions expired while outside New Zealand, the visa also expired. A valid passport was required for travel.

If a passport expired, the holder had to transfer the visa to a new passport before travelling. This required:

• Old and new passports.
• Application for Transfer or Confirmation of a Visa (INZ 1023).
• Payment of a transfer fee.

Permanent residence

After meeting all conditions at the end of the three-year investment period, visa holders could apply for a Permanent Resident Visa for themselves and included family members.

A Permanent Resident Visa allows indefinite travel in and out of New Zealand, provided it is held in a valid passport.

The source also states that holders of a Migrant Investment or Active Investor Plus Resident Visa may apply for a Permanent Resident Visa after holding that visa for at least 24 months.

If conditions were not met at the end of the investment period, the holder might have to leave New Zealand.

Removing section 49 conditions

To request removal of section 49 conditions, the principal applicant needed to submit:

• A cover letter requesting removal and providing current contact details.
• Copies of valid passports for everyone included.
• Evidence of meeting section 49 conditions, such as an independent accountant’s or solicitor’s letter.
• Proof of residential address during the required period.

There was no cost to remove section 49 conditions.

Requests could be posted or couriered to:

Postal address
Immigration New Zealand
PO Box 76895
Manukau City
Auckland 2241
New Zealand

Courier address
Immigration New Zealand
DX Box: EP71514
20 Fairfax Avenue
Penrose
Auckland 1061
New Zealand