PARENT RETIREMENT VISA

The Parent Retirement Visa lets the parents of New Zealand citizens and residents permanently live in New Zealand.

MORE ABOUT THE PARENT RETIREMENT VISA

WHAT THIS VISA ALLOWS:

Parent Retirement Visa holders can:

  • Live in New Zealand indefinitely
  • Work and study in New Zealand
  • Apply for permanent residence after four years

THE REQUIREMENTS:

To apply for a Parent Retirement Visa, candidates must:

  • Have a child that lives in New Zealand as a citizen or resident
  • Have no dependent children
  • Have NZD1 million to invest in acceptable investments in New Zealand for four years 
  • Have at least NZD500,000 available to use as settlement funds
  • Have an annual income of NZD60,000 or more
  • Meet New Zealand’s health and character requirements

MORE INFORMATION ABOUT THE INVESTMENT FUNDS:

Parent Retirement Visa applicants must invest NZD1 million in New Zealand that meets the following requirements: 

  • The visa applicant must keep their investment in New Zealand for at least four years
  • The applicant must invest in acceptable investments, which are investments that:
    • can make a commercial return, such as bonds, equities and property
    • are invested in New Zealand in New Zealand dollars
    • are invested in legal enterprises or managed funds
    • have the potential to contribute to New Zealand’s economy
    • is not for personal use, for example, a home, boat or car
  • The applicant must have earned or acquired their investment funds lawfully 
  • Successful visa applicants must transfer their investment funds to New Zealand within 12 months of Immigration New Zealand approving their application in principle

MORE INFORMATION ABOUT THE SETTLEMENT FUNDS:

Parent Retirement Visa applicants must have NZD500,000 available to live on in New Zealand. This amount is on top of the investment funds and annual income. 

Immigration New Zealand accepts the following and any other eligible sources as proof of the settlements funds: 

  • Bank statements
  • Title deeds
  • Property valuations
  • Share certificates
  • Business ownership documents
  • Asset valuations

MORE INFORMATION ABOUT THE ANNUAL INCOME REQUIREMENT:

Parent Retirement Visa applicants must have an annual income of NZD60,000 or more. This income can be from the visa applicant alone or with a partner they include in the application. 

Immigration New Zealand accepts the following as proof of this income: 

  • Pension
  • Earnings from rental properties
  • Dividends from shared portfolios
  • Interest from investments
  • Profits from owning a company
  • Share market trading profits

FREQUENTLY ASKED QUESTIONS

Parent Retirement Visa holders can include their partners in their visa applications. The partner must meet the character and health requirements of the Parent Retirement Visa, and the couple must submit proof of their relationship.

Migrants 65 years or older can move to New Zealand through one of the following visa pathways:

  • Parent Retirement Visa: The applicant must have a child in New Zealand that’s a citizen or permanent resident and meet strict financial requirements, including having NZD1 million to invest in New Zealand. 
  • Parent Resident Visa: The applicant must have a New Zealand citizen or permanent resident child who can sponsor them. 
  • Active Investor Plus Visa: The applicant must have NZD15 million to invest in New Zealand or the weighted equivalent in assets or funds.

To retire to New Zealand using the Parent Retirement Visa, the applicant must have NZD1 million to invest in New Zealand. On top of that, the applicant must have NZD500,000 available to live on and an annual income of at least NZD60,000.

Migrants over 66 can also apply for a Temporary Retirement Visitor Visa. This visa lets successful applicants live in New Zealand for up to two years. Applicants must have NZD750,000 to invest in New Zealand and NZD500,000 for settlement funds, and an annual income of NZD60,000 or more.

The parents of New Zealand citizens or permanent residents can apply for a Parent Retirement Visa or a Parent Resident Visa to live in New Zealand permanently. 

For the Parent Retirement Visa, the parents must have NZD1 million to invest in New Zealand for four years as well as NZD500,000 to live on and an annual income of NZD60,000 or more. 

However, to apply for a Parent Resident Visa, the adult child and their partner, if applicable, must sponsor the parent and earn enough as per the Parent Resident Visa’s requirements.

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