Parent retirement category NZ

The parent retirement visa is for those who want to join their adult child in New Zealand. With this visa, you can live, work and study in New Zealand and you can include your partner in your application. For the parent retirement visa, you must be able to prove that you have enough funds in place to join your child in New Zealand. The parent of the child may apply along with their partner. You are not able to apply if you have dependent children.

What are the financial requirements for a Parent Retirement Visa?

You must meet be able to show you have:
  • An annual income of NZ $60,000; and
  • NZ $1 million that you are prepared to invest for 4 years; and
  • An additional NZ $500,000 to live on as settlement funds
Proving you have an annual income of NZ $60,000

The annual income of NZ $60,000 can be:
  • Your income; or
  • The combined income of you and any partner included in the application
Examples of income sources are:
  • Pensions
  • Rental properties
  • Dividends
  • Interest
  • Profits from owning a company
  • Share market trading profits
How does the NZ $1 Million Investment Works?

When making an application for the parent retirement visa you must be able to prove that you can meet the minimum investment amount of NZ $1 million. You must also be able to show you have the required additional $500,000 for settlement funds. This means that in total you will need funds of at least NZ $1.5 million.

Note that it is not as simple as transferring the required funds to New Zealand. Below we list the steps in the application as well as you need to be aware of.

Proving you have the investment funds

You must be able to prove that you have the required funds when applying for your parent 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. You must provide documentary proof of such and this may include:
  • Bank statements
  • Title deeds
  • Property valuations
  • Share certificates
  • Business ownership documents
  • Asset valuations
The amount you can claim for each nominated fund or asset does depend on the ownership of it. When it’s owned by you or you and your partner (legal marriage, civil union or de facto relationship) you may claim the full amount. When it’s owned by a party who is not your partner you may only claim your share.

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