Interested in retiring in New Zealand? New visa categories announced

A new ‘Immigration Retirement Package’ was announced today by New Zealand’s Minister of Immigration Jonathan Coleman.

The new package, which will take effect on 29 March, consists of two visa categories: Temporary Retirement and Parent Retirement.

The Temporary Retirement category creates a two-year permit for people who want to spend some of their retirement in New Zealand, provided they invest there and indemnify the government against possible health and welfare costs.

The Parent Retirement category allows Immigration New Zealand to prioritise high net worth individuals who are already seeking to migrate to New Zealand under the Family category.

Parent Retirement visa holders will be required to invest a minimum of NZ$1 million in New Zealand over four years, whereas Temporary Retirees will need to invest NZ$750,000 over the two year term of their permit.  Temporary Retirees will be able to renew their permits as long as they continue to meet criteria including investment funds, income and health insurance.
 

Full details of the two new visa categories (including FAQs) are available here.

For more visa information, please visit the Immigration New Zealand Manila branch website.