Transferring investment funds to New Zealand: what AIP, Parent, and Temporary Retirement clients need to know

Immigration New Zealand (INZ) has clarified how investment funds must be transferred for the Active Investor Plus (AIP), Parent Retirement, and Temporary Retirement visas. The rules themselves have not changed direction, but the detail on what counts as an acceptable transfer is now much clearer, and it is worth checking against before funds move from overseas to New Zealand.

Funds must be transferred through the international banking system, using methods such as SWIFT or international telegraphic transfer. A foreign exchange company can be used (but we do not recommend). Only the funds listed in the applicant's INZ approval in principle letter, or proceeds from selling assets listed there are the funds INZ will accept.

Acceptable sources include the applicant's personal bank account, a joint account shared with a partner or dependent child included in the application, a solicitor's trust account, a pension scheme, or an investment portfolio account. Funds subject to repatriation obligations, such as those held through QDII schemes, do not align with the programme's objectives and will not be accepted.

No third party transfers after approval

Once an applicant receives their approval in principle letter, nominated funds cannot be transferred to a third party. INZ needs to be able to trace that the funds transferred are the same funds that were documented in the application, and a transfer to a third party makes that difficult to establish.

Funds already held in New Zealand

Funds already invested in New Zealand can be used to support an application, provided the applicant can show they are owned by them and were earned legally. These funds must be nominated as part of the visa application.

Nominating additional funds or changing category

AIP applicants who have received an INZ approval in principle letter can nominate additional funds if the original funds have lost value due to currency movements or unforeseen circumstances, provided this is done within the first six months. Growth category applicants may also be able to nominate additional funds to reach the NZ$10 million threshold and move into the Balanced category, again within that initial six-month window.

Borrowed funds and extensions

Where it is not practical to liquidate a nominated asset, applicants may be able to borrow against it from an acceptable lender. If a transfer is going to take longer than six months, applicants can apply for a six-month extension, provided they can show reasonable attempts to transfer and invest the funds, such as evidence of an active property sale process.

Evidence of transfer

Once funds have been transferred, evidence must be provided within three months of the expiry of the six-month transfer window. This is an area where incomplete documentation is one of the easiest ways to stall or risk an otherwise straightforward application.

It is complex

Anyone applying under the AIP, Parent Retirement, or Temporary Retirement categories, should first check the funds transfer plan with our experts. It may seem simple moving money to New Zealand but people are getting this wrong on multiple occasions and running into problems with INZ. If you would like to talk through a specific funds transfer plan, our team can assist.