Dreaming Your Parents Retiring in New Zealand? Here’s Everything You Need to Know

The parent retirement resident visa of New Zealand enables you to join your adult child in New Zealand. As this visa grants permanent residency, you will be able to immigrate permanently. To be eligible to apply for the visa, you must be able to meet Immigration New Zealand's financial requirements. Who Can Be Included in an Application for a Parent Retirement Visa? The parent of the child may apply along with their partner. You are not able to apply if you have dependent children. You must meet be able to show you have: 1. An annual income of NZ $60,000; and 2. NZ $1 million that you are prepared to invest for 4 years; and 3. An additional NZ $500,000 to live on as settlement funds. What Else You Need to Know You must be able to prove that you have the required funds when applying for your parent’s retirement visa. that you can, Therefore, you must nominate the type, location, and value of the funds and/or assets you intend to invest within the application. As per most of the reputed immigration advisers in New Zealand, you must provide documentary proof of such and this may include: 1. Bank statements 2. Property valuations 3. Title deeds 4. Business ownership documents 5. Share certificates 6. Asset valuations The amount you can claim for each nominated fund or asset does depend on the ownership of it. When it is owned by you or you and your partner (legal marriage, civil union, or de facto relationship) you may claim the full amount. When it is owned by a party that is not your partner you may only claim your share. Saving Money on Visa Fees Ready to apply for your New Zealand retirement visa? Hold on for just a moment before paying, as it is a smart idea to find the best way to pay in New Zealand Dollars. You can pay your visa fees through a debit or credit card. Still, even if you use your bank-issued card, you could pay high foreign transaction fees and get a poor exchange rate to convert your money from GBP to NZD. So, that is pretty much it - everything you need to know about applying for a parent retirement resident visa. If you have a child who is an NZ citizen or resident, the retirement resident visa is a natural choice. For everyone else, there is a temporary visa, although you will need to renew this every few years. Otherwise, you may face a legal charge like New Zealand deportation as well. Good luck and enjoy your well-ea ed retirement in beautiful New Zealand!