Two years ago I invested 3 million dollars into a multifamily development in Auckland. The market is good at the moment and the developer and I would like to sell the property. Will this impact my Investor 1 status? Can I reinvest the proceeds into bonds?
Answers
It is possible to switch between investments during the investment period, as long as the investment stays in an "acceptable investment". Be sure to document these transactions, so you can show to INZ that your funds were held continuously in New Zealand for the required investment period. The exact instructions on this topic: The principal applicant will need to show that they have retained an acceptable investment in New Zealand for the required investment period.
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