Parent Retirement Resident Visa: Secure Your Golden Years in New Zealand

The Parent Retirement Resident Visa provides an opportunity for parents of New Zealand citizens or residents to live in the country permanently, provided they meet the strict eligibility, financial, health, and character requirements. This comprehensive guide explains everything from eligibility criteria and required documents to financial obligations, investment conditions, and the process of transitioning to permanent residency.

Stay Duration and Residency Rights

Holders of the Parent Retirement Resident Visa are permitted to stay in New Zealand indefinitely. Once applicants have held this visa for two consecutive years and met the required conditions, they may apply for a Permanent Resident Visa, which allows them to travel in and out of New Zealand without restrictions.

Parent Retirement Resident Visa Eligibility Criteria

Identity Requirements

Applicants must provide two recent passport-sized photos along with their original passport or a certified copy. Depending on nationality, additional documents may be required. Citizens of China may provide household registration documents confirming their relationship with their child. Applicants from Hong Kong or Macao applying within these regions should also include a copy of their identity card. Indonesian citizens must provide additional documentation to verify their status. Those applying from French Polynesia or Wallis and Futuna must submit a carte d’assuré if they are not French nationals. Similarly, applicants from New Caledonia need to provide a livret de famille and, if not French nationals, also a carte d’assuré.

Health Requirements

All applicants must be in good health and provide a chest X-ray along with a complete medical examination. If a general medical and chest X-ray certificate has been submitted in the last 36 months for another visa application, it does not need to be resubmitted.

Character Requirements

Applicants must demonstrate good character. If aged 17 or older, they must provide police certificates from every country of citizenship as well as any country where they have lived for 12 months or more during the last 10 years. These certificates must be less than six months old when the application is submitted. If the certificates are not in English, an official translation must also be provided.

Financial Requirements

Investment Funds

Applicants must commit at least NZD $1 million in acceptable New Zealand investments for a minimum period of four years. Evidence of the funds may include bank statements, title deeds, property valuations, share certificates, or business ownership documents. Investments cannot be borrowed or subject to loans or bonds.

Settlement Funds

In addition to investment funds, applicants must demonstrate that they have settlement funds of at least NZD $500,000. This requirement ensures that applicants have sufficient resources to establish themselves in New Zealand. Acceptable documents include bank statements, property valuations, or ownership records.

Annual Income

Applicants must earn an annual income of at least NZD $60,000. This income can be derived from pensions, rental property earnings, dividends from investments, interest from savings, profits from business ownership, or share trading.

Source of Funds

The source of investment funds must be lawful. Evidence may include tax returns, payslips, business financial statements, property sale receipts, inheritance documents, or evidence of unconditional gifts. Funds that were unlawfully acquired or borrowed will not be accepted.

Transfer of Investment Funds

Once the application has been approved in principle, applicants must transfer their funds to New Zealand within 12 months through the banking system. Chinese citizens must comply with QDII requirements, and only certain banks such as Bank of China, ICBC, and China Construction Bank have approved products for fund transfers.

Acceptable Investment Options

Investment must be directed toward acceptable categories, such as government or local authority bonds, shares in New Zealand companies, commercial property, or approved philanthropic investments. Documentation from accountants or solicitors must verify the type, amount, date, and details of the investments. Once invested, funds can be shifted between acceptable categories without affecting compliance.

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Sponsorship by Child in New Zealand

Child’s Immigration Status

The sponsoring child must be a New Zealand citizen or resident. Acceptable evidence includes a New Zealand passport, birth certificate, certificate of citizenship, or a New Zealand Resident Visa. An Australian passport is also acceptable. If the child is a resident, their visa must be free from section 49 conditions.

Child’s Residency in New Zealand

The sponsoring child must live in New Zealand. Evidence of residence may include letters or bills addressed to them, employment records, tax records from Inland Revenue, mortgage or rental agreements, proof of benefit payments from Work and Income, or documents showing that their belongings have been relocated to New Zealand.

Relationship Verification

Applicants must be either the parent or legal guardian of the sponsoring child. To prove this, original or certified copies of birth certificates, adoption papers, or guardianship records must be supplied. If the applicant is a grandparent, they must provide evidence that both parents of the child are deceased and that legal custody was established before the child turned 20.

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