Retire in New Zealand
If you are considering retirement in New Zealand, there are a number of options you can choose from
There are several visas to retire in New Zealand
Immigration New Zealand allows for two dedicated visa options to retire in New Zealand, whether intend to come temporarily or permanently, and whether or not you have children who reside in country.
The Parent Resident Visa
After being ‘paused’ for almost 3 years, the parent category reopened in Feb 2020. New Zealand residents are able to sponsor their parent(s) to come over and become residents themselves. This category is capped at 1,000 applicants/year and the key requirements are guaranteed minimum income from the New Zealand child(ren) sponsors.
The Parent Retirement Resident Visa
To retire in New Zealand, the first choice would be the New Zealand Parent Retirement visa. This option allows you to live, work and study in New Zealand permanently, but you need a New Zealand citizen or resident adult child willing to sponsor you. To be eligible, you will need a yearly income of NZ$60,000, NZ$1 million to invest over 4 years, and another NZ$500,000 to live on. You may then apply for permanent residence after 4 years. You may include your partner in this application.
The Temporary Retirement Visitor Visa
As an alternative, this option would allow a temporary stay in New Zealand on a visitor visa for up to 2 years, so considerably longer than on a 'regular' visitor visa. You must be 66 or above, have NZ $750,000 to invest in New Zealand for 2 years, another NZ $500,000 to live on, and an annual income of NZ $60,000. You may include your partner in this application but no dependent children.
What are the alternatives?
As possible alternatives, you may want to consider business migration options, which include investment visas and entrepreneur visa. The Entrepreneur visa will require you to run a business for a number of years before you will be able to retire. The Investor 1 Category visa application requires funds of NZ$10 millions to be invested for at least 3 years before you get granted residence. The Investor 2 category requires a lower investment (NZ$3 over 4 years) but has an age limit of 65 years for the principal applicant.