This article focuses on the definition of certain terms applied on people intending to obtain a New Zealand residence class visa under the Parent Retirement Category. Let us discuss them:
Funds earned /acquired lawfully
Principal applicants of the Parent Retirement Category are required to nominate funds or assets which has been earned or acquired lawfully to further invest that amount in New Zealand for a period of 4 years. This implies that the funds or the assets must have been earned or acquired abiding by the local laws of the country in which the principal applicants have earned/ acquired the funds or the assets. If the business immigration specialists are not convinced about the fact that the funds or assets were earned/acquired legitimately, they have the rights to decline an application made under this Family Category.
Unencumbered or Unburdened Funds
This type of funds refers to the funds that are not subject to burdens like mortgages, debts, or any other type of monetary claims.
Acceptable investment
An acceptable investment refers to the following:
- The investment having potential of a commercial return under average circumstances; AND
- The investment which is not subject to personal use of the applicant(s) of the Parent Retirement Category; AND
- The investment which is invested in the Kiwi country in New Zealand currency; AND
- The investment that is invested lawfully regulated businesses in New Zealand; AND
- The investment that holds the potential to contribute to the Kiwi economy; AND
- The investment which is invested in one or more of these-
- (a) Local Kiwi authorities or bonds issued by the Kiwi government;
- (b) bonds issued by any Kiwi firm that is traded on the country’s Debt Securities Market;
- (c) bonds issued by any Kiwi firm that has a minimum BBB or equivalent rating from any universally-approved credit rating agency;
- (d) equity- public or private funds in any Kiwi firm.
- The investment which is not invested, in any way, in residential property development or in finance companies.
Personal use of investment funds
Personal use of investment funds refers to the investment in assets, such as;
- Personal residence;
- Personal vehicle;
- Boat;
- Other similar investments
If you are interested in applying for a residence permit to New Zealand, mail following information ASAP at ajay@abhinav.com for a free of charge assessment by Ajay Sharma, principal consultant, ABHINAV.
- Your updated resume if skilled professional, or if businessmen, then brief on business profile along with information on your current personal net worth.
- If married, provide the resume for your spouse as well.
- If applicable, please provide information on children and their age.
- Information on any blood relatives residing in New Zealand. This is not a compulsory requirement to qualify for immigration to New Zealand, but serves as additional positive assessment and suitability factor.