If you have submitted an application for residence under the Parent Retirement Category, and we have approved it in principle, we can grant residence to you and your family members included in your application when you have:

• shown us that your investment funds have been transferred to New Zealand and placed in acceptable investment(s)
• given us a New Zealand address where we can contact you by mail after you arrive
• paid any applicable migrant levy.

If you do not meet these requirements your application may be declined.

Transfer of funds process

When your application has been approved in principle you will have 12 months to transfer and invest your total investment funds in New Zealand.

Once you have transferred your investment funds to New Zealand, you will need to provide evidence to show:

• these are the funds you initially nominated in your application, and/or are funds that arose from the sale of your nominated assets, or
• as agreed to by us, the funds are secured against the nominated assets in your residence application (see borrowed funds, below).

The funds must have been transferred through the banking system directly from your bank account(s) or through a foreign exchange company that uses the banking system to New Zealand. You must include telegraphic transfer documentation and bank statements showing the transfer(s). Nominated funds held in a country other than the country in which they were earned or acquired must have been originally transferred through the banking system from that country.

We may request other information to show that the above requirements have been met.

Borrowed funds

If you have been approved in principle you may be able to borrow against your nominated assets and transfer the borrowed funds to New Zealand as your investment funds. To do this you need to satisfy us that:

• you own net assets of equal or greater value to the required investment amount, and
• the borrowed investment funds are from a bank or commercial lending institution acceptable to us and are secured against your nominated assets, and
• it is not economically viable or practical to liquidate the nominated assets, eg sell a business.

What evidence is required for an acceptable investment?

You need to place your funds in an acceptable investment in New Zealand and provide evidence of your investment(s). We need you to provide us with:

• the full name of the investor
• the amount invested in New Zealand dollars
• the date the investment was made 
• the type of investment (in the case of shares or bonds in companies, the names of the companies invested in and the number of shares or bonds purchased must be listed)
• documentary evidence of the investment
• a letter from a reliable independent professional (for example, a solicitor or chartered accountant), confirming that the funds have been invested.

In some situations we may require other evidence.

What if I need to spend time in New Zealand to transfer my funds and arrange the investment of my funds?

After approval in principle, you may apply for a multiple entry work visa to allow you to arrange the transfer and investment of your funds in New Zealand. The work visa will be valid for 12 months.

If your partner and dependent children wish to accompany you, they may apply for visas valid for the same period.

Your partner may apply for either a work or visitor visa. Your dependent children may apply for either a student visa (if they are of primary or secondary school age) or a visitor visa. Tertiary study will require the meeting of standard student policy requirements.

How long will my resident visa be valid for?

When you have met the above requirements, you and your family members included in your application will receive resident visas. If you are outside New Zealand when you are granted a resident visa, you will be given 12 months from the date of issue to arrive in New Zealand.  If you and your family do not arrive within that period, your resident visas will lapse.

Your resident visa will be valid for further travel for two years from the date you first enter New Zealand (if residence was approved outside New Zealand) or from the date of grant (if residence was approved inside New Zealand). This will allow you to travel to and from New Zealand during the two-year period. 

Section 49(1) requirements

Your resident visas will be granted subject to requirements under section 49(1) of the Immigration Act 2009. These are requirements that you must meet after you have your resident visa. See the Section 49(1) requirements.