Do you want to retire and not work in New Zealand?

The right visa will entitle you to live in New Zealand as a retiree

New Zealand provides two visa programs specifically tailored for retirement migrants: The Parent Retirement Category and the Temporary Retirement Category.

While the Parent Retirement Category is a genuine permanent residence program, the Temporary Retirement Category is a special visitor visa and entitles the holder to stay in New Zealand for the duration of two years.

Both programs require the successful visa applicant to be of good health and character, place an investment in New Zealand, and demonstrate ownership of additional settlement or maintenance funds.

Applicants under the Parent Retirement Category must also have a New Zealand citizen or resident adult child, who is willing to sponsor them.

If you hold a Temporary Retirement Visa, you need to apply for a further Temporary Retirement Visa after two years. The subsequent visa will be granted under the provision that you still meet policy provisions when the application is submitted.

The downside of this visa is, that it will not give you peace of mind in the long run, as the policy, your health or financial situation might change over the years and you might then no longer be eligible for a visa.

 

More pathways to retirement in New Zealand 

If you want to live in New Zealand long term, but don't have an adult child who is a New Zealand citizen or resident, have already reached the age limit of the Skilled Migrant Category (56 years), or do not want to consider finding a job until you reach your retirement age, you might still be able to apply for a visa.

One of the following policies might be an option for you: 

• Entrepreneur Work & Residence Visa pathway
• Investor 1 Category
• Investor 2 Category 
• Temporary Retirement Visa 

While the Entrepreneur pathway will require you to run a business for a number of years before you will be able to fully retire, the Investor 1 Category visa application requires substantial funds of NZ$10 million to be invested for 3 years. Investor 2 category requires a lower investment of NZ$2.5 but has an age limit of 65 years for the principal applicant. 

 

Compare the different visa types to see whether you might be able to spend your retirement years in New Zealand:

	Investor Category 2	Investor Category 1	Entrepreneur Work & Residence Visas	Parent Retirement Category	Temporary Retirement
Good health	Required	Required	Required	Required	Required
Good character	Required	Required	Required	Required	Required
Investment funds	Minimum of NZ$ 3.0millions for 4 years (discount of NZ $ 0.5 millions if you commit to partly invest in "growth investments")	Minimum of NZ$ 10 million for 3 years	Minimum of NZ$ 100,000 - can be waived	Minimum of NZ$ 1 million	NZ$ 750,000
Settlement funds	Not required	Not required	Sufficient Maintenance Funds for the first three years	NZ$ 500,000	NZ$ 500,000
Maximum age	65	No requirement	No requirement	No requirement	Must be 66 years or older
Minimal English language	IELTS level 3	No requirement	IELTS level 4	No requirement	No requirement
Minimum time to be spent in NZ	146 days each year	44 days each year	No requirement – but you have to be self-employed in New Zealand on a full-time basis for 2 years to qualify for an Entrepreneur Residence Visa.	No requirement	No requirement
Business Experience	Required	Required	Required	No requirement	No requirement
Business Plan	No requirement	No requirement	Required	No requirement	No requirement
Annual income	No requirement	No requirement	No requirement	NZ$60,000	NZ$60,000

 Ask Dr.Carsten Hallwass which of these visa options might be best suited for you.