sky

Hi
To gain an extra 2 points we will have to put money into the NZ settlement fund.What I was wondering was does anyone know how long we have to leave the money in the account.Do we have access to it as soon as we get over to NZ or does it have to stay in the account for a while.
Thanks
Sky

stooly

Hello again,
We plan to put £60.000($200.000) into a nz bank account to show them a statement and leave it there until we purchase a house the remainder we leave in a uk account and change has we need or when the exchange rate increases. There is an alternative if you have not sold your house. Get an estate agent to value your house and give you a letter stating that and produce a mortgage statement which they will accept. As I understand it they will not stamp your passport until funds are in a nz account.

I hope this helps.
Sammie

sky

Hi again,
We all must visit the same sites this one is my favourate.Thanks for your reply,it was the length of time the money has to stay in the account once over in NZ I was wondering about,do you have immediate access to it once settled in NZ.Does it have to be used for the purchase of a house to access it .
Thanks again
SKY

Don

The settlement funds only need to stay in the NZ a/c long enough for you to get a bank statement - after that you can do whatever you like with the money. You only get 6 months after approval in principle to transfer the money to a NZ bank a/c, if you miss the deadline your PR application will be refused.