Minister of Immigration announces new retirement Visas for NZ

What is the Parent Retirement Category?

The objective of the Parent Retirement Category is to provide residence to those with family links to New Zealand who wish to make a significant contribution to New Zealand's economy.

Who can apply for residence under the Parent Retirement Category?

To be approved under the Parent Retirement Category you must:

* have an adult child who lives in New Zealand and who is either a New Zealand citizen or resident

* have the balance of your family in New Zealand (meets the ‘centre of gravity' policy that sits under the Family Parent Policy)

* invest NZ$1 million in New Zealand for four years into an acceptable investment

* demonstrate ownership of NZ$0.5 million of settlement funds and an annual income of NZ$60,000 at the time of application, and

* meet standard health and character requirements

How many places are available under the Parent Retirement Category?

There is an annual allocation of 3,440 to 3,740 places (people) for the Family Parent Category and the Parent Retirement Category. Parent Retirement Category applications will be prioritised, in recognition of the benefit to the economy they are expected to bring.

How much is the application fee for Parent Retirement Category?

NZ$2,600

Investment funds What are the requirements for investment funds?

You must demonstrate ownership of your nominated funds and/or assets, and demonstrate that the nominated funds and/or assets have been legally earned or acquired. All invested funds must be placed in an acceptable investment(s).

Can I nominate funds that have been gifted to me?

You may nominate funds and/or assets which have been given to you unconditionally and in accordance with local law. You will need to show that your donor acquired those funds and/or assets lawfully.

If some of your funds and/or assets have been acquired by inheritance you will need to provide appropriate evidence, eg probate or evidence from your solicitor, to show that they were acquired lawfully.

What is an acceptable investment?

An acceptable investment is defined as investment that:

1. is in either one or more of the following:

* bonds issued by the New Zealand government or local authorities, or

* bonds issued by New Zealand firms traded on the New Zealand Debt Securities Market (NZDX), or

* bonds issued by New Zealand firms with at least a BBB- or equivalent rating from internationally recognised credit rating agencies (for example, Standard and Poor's), or

* equity in New Zealand firms (public or private), including managed funds and:

2. is capable of a commercial return under normal circumstances and has the potential to contribute to New Zealand's economy, and

3. is invested in New Zealand in New Zealand currency, and

4. has the potential to contribute to New Zealand's economy, and

5. is invested in lawful enterprises or managed funds that comply with all relevant laws in force in New Zealand, and

6. is not for the personal use of the applicant(s), and

7. is not (directly or indirectly) invested in residential property or deposit taking financial institutions (eg banks or finance companies).

Do bonus bonds qualify as an acceptable investment?

No, they don't as they do not provide a commercial return.

What is meant by personal use of investment funds?

Personal use includes a personal residence, car, boat or similar assets.

If my application for residence is approved in principle within what time frame do I have to invest my funds in New Zealand?

You should transfer your total investment funds to New Zealand and invest them in acceptable investments within 12 months of approval in principle.

If you do not transfer your funds within 12 months your application must then be declined.

Can I come to New Zealand to investigate investment opportunities once my application has been approved in principle?

Once your application is approved in principle you are eligible for a 12 month multiple entry work visa to come to New Zealand to investigate investment opportunities.

If applicable, your partner and children are eligible for multiple entry visitor's visas for the same period. If your children wish to study during this period they will have to apply for a student visa and meet student policy.

Do I have to transfer my settlement funds to New Zealand?

No, you are only required to transfer your nominated investment funds to New Zealand.

How do I apply?

Simply Click here and complete our FREE online assessment to find out if you are eligible

Go Back...

For a FREE Assessment, please choose the country of your choice below: