Visas & Advice Detail
New retirement visas for New Zealand
As of 29 March two new retirement policies have given more people the opportunity to fulfil their dream of emigrating to the land of the long white cloud.
New Zealand's Minister of Immigration announced the launch of the Temporary Retirement Category and the Parent Retirement Category (residence) at the beginning of last month, and from the end of March people have been able to apply for these new visas.
The Temporary Retirement Category is a special visitor's visa class designed for those who wish to invest in New Zealand and stay in the country for longer than existing visitor policy had allowed. Successful applicants are issued with a renewable two year multiple entry visitor's visa that allows for travel in and out of New Zealand.
To be approved under the Temporary Retirement Category you must: be 66 or over; invest NZ$750,000 in New Zealand for two years into an acceptable investment; be able to show NZ$500,000 of maintenance funds and have an annual income of NZ$60,000 at time of application; meet standard health and character requirements; and hold and maintain comprehensive travel and/or health insurance for the duration of your stay. Successful applicants are also able to bring their spouse (but not children) with them.
An 'acceptable investment' may be (for example) certain types of bonds or lawful enterprises that comply with all relevant laws in force in New Zealand, but it may not be for the personal use of the applicant(s) or invested in residential property.