Visa factsheet Parent Retirement Resident Visa

If you have an adult child who is a New Zealand citizen or resident, you can apply to live in New Zealand permanently. You’ll need an annual income of NZ $60,000 plus NZ $1 million to invest for 4 years, and another NZ $500,000 to live on. Once you’ve completed the 4-year investment period, you’ll be eligible for permanent residence.

Overview

Overview

Duration

If you meet the visa conditions, indefinitely


With this visa you can

  • Live, work and study in New Zealand.
  • Include your partner in your visa application.
  • Apply for permanent residence after 4 years of keeping your funds invested in New Zealand.

Things to note

  • If we approve your residence application in principle, you’ll have 12 months to transfer your investment funds to New Zealand.
  • If you want to come to New Zealand to investigate investment opportunities, you'll need to apply for work visa. If your partner wants to come with you, they'll need to apply for their own work or visitor visa.
Criteria

Meeting the criteria

If you have an adult child who is a New Zealand citizen or resident, you can apply to live in New Zealand permanently. You’ll need an annual income of NZ $60,000 plus NZ $1 million to invest for 4 years, and another NZ $500,000 to live on. Once you’ve completed the 4-year investment period, you’ll be eligible for permanent residence.

Use the filters to display country specific tips, under evidence, to assist you with your application

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Identity

You must provide proof of your identity

Acceptable photos

Also provide a copy of your Identity card.

Also provide your Kartu Keluarga.

If you’re not a French national, also provide a copy of your carte d’assuré.

Also provide a copy of your livret de famille.

Health

You must be in good health

You must have a chest x-ray and a medical examination as proof of your good health.

Getting an x-ray or medical examination

If you’ve submitted a general medical and chest x-ray certificate in the last 36 months, for another visa application, you don’t need to resubmit one.

Character

You must be of good character

If you’re 17 or over, you must provide a Police Certificate from:

  • your country of citizenship
  • any other country where you’ve spent 12 months or more over the last 10 years, even if you didn’t spend that 12 months all in one visit.

Good character
Police certificates

Police Certificates must be less than 6 months old when you apply.

If you provide a police certificate that is not in English, you must provide an English translation.

This includes police certificates that record no convictions.

Your child’s immigration status

Your child must be a New Zealand citizen or resident

You must provide an original or certified copy of your child’s:

  • New Zealand passport, birth certificate or certificate of citizenship, or
  • New Zealand Resident Visa, or
  • Australian passport.

Your child must be 18 or over for us to consider them an adult.

If your child is a New Zealand resident, their visa must be free from section 49 conditions.

If your child has section 49 conditions, they’ll be listed on their visa label.

Your child’s place of residence

Your child must live in New Zealand

You must provide evidence your child lives in New Zealand, which may include:

  • letters or bills addressed to them, eg power bills
  • employment records
  • records of benefit payments from Work and Income
  • tax records from Inland Revenue
  • mortgage or rental agreements
  • documents showing their belongings have been moved to New Zealand
  • any other documents that show they live in New Zealand.

Your child must also be a New Zealand citizen or resident.

Dependent children

You must have no dependent children

We’ll ask you about your family when you complete your residence application.

Dependent children

If you have dependent children, you won’t be eligible for this visa. 

Your relationship with the sponsoring child

You must be the parent or legal guardian of your child

You must provide evidence of your relationship with your child, such as original or certified copy of your child’s full birth certificate, or adoption papers.

If you’re the legal guardian of a sponsoring child, you must provide:

  • evidence the child’s parents are deceased, and they died before the child turned 20
  • documents, including medical and school records showing you had custody of the child, and the right to control the child’s upbringing before they turned 20

If you’re the grandparent of a sponsoring child, you must provide:

  • evidence the child’s parents are deceased, and they died before the child turned 20
  • legal documents naming you as the child’s guardian
  • documents, including medical and school records, showing you had custody of the child, and the right to control the child’s upbringing before they turned 20.

You can provide household registration documents if these confirm your relationship to your child.

Grandparents of New Zealand citizens or residents may be considered for residence under the Parent Retirement Category if their grandchild’s parents are deceased.

Your relationship with your children

You must provide evidence of your relationship to all of your other children

You must provide evidence that confirms your relationship to all of your other children, including:

  • your biological and adopted children, and any other children you were the legal guardian for
  • any of your partner’s children, who lived with you and your partner as part of your family before they turned 17.

Evidence may include:

  • birth certificates
  • adoption papers
  • any other documents that confirm your relationship to each other.

You can provide household registration documents if these confirm your relationship to your child.

Investment funds

You must have NZ $1 million or more to invest in New Zealand for 4 years

You must nominate the type, location and value of the funds and/or assets you intend to invest. Evidence may include:

  • bank statements
  • title deeds
  • property valuations
  • share certificates
  • business ownership documents
  • asset valuations.

The value you can claim for your nominated funds, depends if they are owned by you, or jointly by you and another person. If you own an investment jointly with:

  • your partner, you can claim the full value of the investment, as long as you and your partner are in a recognised partnership
  • someone who isn’t your partner, you can only claim for the part of the investment that you own.

Partnership

The funds and/or assets you nominate for your investment can’t be borrowed, or have a loan or bond against them.

The funds you nominate for your investment must be on top of your annual income and your settlement funds.

Source of investment funds

You must have earned or acquired your funds lawfully

The evidence you provide will depend on how you came by your funds. It may include:

  • tax returns or certificates
  • pay slips
  • business financial statements
  • business shareholdings
  • dividends
  • receipts for property sales
  • bank certificates
  • share trading profits
  • evidence of gifted money
  • probate and other evidence of inherited money.

It’s OK if your funds were gifted to you, as long as the gift was unconditional and lawful, and was earned or acquired lawfully.

If the funds were earned or acquired in a way that isn’t lawful in New Zealand, we won’t be able  to approve your visa application.

Transfer investment funds

You must transfer your investment funds to New Zealand

You must transfer your investment funds to New Zealand.

You must transfer your investment funds directly from your bank account to New Zealand through the banking system.

If we approve your application in principle, you’ll have 12 months from that date to transfer and invest your funds.
 
Transferring funds to New Zealand

You can apply for a temporary visa to come to New Zealand and investigate investment opportunities.

Specific Purpose Work Visa

We cannot extend the timeframe for transferring and investing your nominated funds.

Applicants must ensure their funds meet currency exchange and transfer requirements in place in China.

The following organisations have previously demonstrated they have acceptable QDII products:

  • Bank of China
  • China Construction Bank
  • ICBC
  • Guosen Securities Company Ltd

Settlement funds

You must have at least NZ $500,000

You must provide evidence you have the funds and/or assets to cover the required settlement funds, which may include:

  • bank statements – you must be able to access  the funds from New Zealand
  • title deeds
  • property valuations
  • share certificates
  • business ownership documents
  • asset valuations.

The value you can claim for your settlement funds, depends if they are owned by you, or jointly by you and another person. If you own your settlement funds jointly with:

  • your partner, you can claim the full value of the investment, as long as you and your partner are in a recognised partnership
  • someone who isn’t your partner, you can only claim for the part of the investment that you own.

Partnership

Your settlement funds must be on top of your annual income and your investment funds.

Annual income

You must have an annual income of NZ $60,000 or more

You must provide evidence of your income. This may include documents that show you have:

  • a pension
  • earnings from rental properties
  • dividends from share portfolios
  • interest from investments
  • profits from owning a  company
  • share market trading profits.

Your income can be earned by you alone, or together with a partner you’ve included in your application.

Bring partner

Your partner must meet the requirements for this visa

To bring your partner, you must provide evidence:

  • of your relationship with your partner, like a marriage certificate
  • that your partner meets the identity, character and health requirements for this visa.

Partnership

Acceptable investments

You must invest NZ $1 million in acceptable investments in New Zealand for a minimum of 4 years

You must provide documents from a trusted professional like a chartered accountant or solicitor that confirm:

  • your full name
  • the amount invested in NZD
  • the date you started your investment
  • the investment typ
  • the names of any organisations you invested in
  • the number of shares or bonds you bought in any organisations.

Acceptable investments

If you already have funds invested in an acceptable investment in New Zealand, we can start your investment period from the time we approve your residence application in principle.

Once your funds are invested in New Zealand, it’s OK to transfer funds between acceptable investments.

Process

Process

The information below will help you understand the process so you can plan ahead and have the best chance of submitting a complete application.

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Fees & receiving centre

Fees & receiving centre

The information below will help you understand the process, timeframes and costs involved in applying for this visa, so you can plan ahead and have the best chance of submitting a complete application.

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Visa conditions

Visa conditions

If you are granted a visa, there are conditions that you must meet. These visa conditions are described below.

Entry permission

You must apply for entry permission when you arrive in New Zealand. You can do this by completing an arrival card, which you are given on the way to New Zealand.

Travelling to and Arriving in New Zealand

You can be refused entry permission if:

  • you don’t meet our character requirements
  • your circumstances have changed since you were granted a visa
  • you refuse to let us to take your photo, or provide us with your fingerprints or an iris scan, if we ask you for them.

Invest in New Zealand

You must keep at least NZ $1 million invested in an acceptable investment in New Zealand for 4 years.

Acceptable investments

We’ll ask for evidence you have kept your funds invested at the end of the second and fourth years you’re in New Zealand.

You’ll have 3 months to provide the evidence.

It’s OK to transfer funds between acceptable investments.

If you already have funds in an acceptable investment in New Zealand when you apply for residence, we can start your investment period from the time we approve your application in principle.

Acceptable investments

Contact details

You must let us know if your address or other contact details change during the 4-year investment period.

We’ll need to keep in touch with you to check you’re meeting the conditions of your visa.

If we’re unable to confirm that you’re meeting the conditions, you may not be able to stay in New Zealand.

Work

You can work in New Zealand.

Study

You can study in New Zealand.

Travel

You can travel in and out of New Zealand for the first 2 years of your 4-year investment period.

If we confirm that you’re meeting all of the conditions that apply to the first 2 years of your investment period, you can apply for a variation of conditions to allow you to travel for the last 2 years.

If you’re not meeting the conditions of your visa, you may have to leave New Zealand.

If you’ve met all the conditions of your visa at the end of the 4-year investment period, you may be granted a permanent resident visa.

A permanent resident visa allows travel in and out New Zealand free from conditions.

Keep your visa in a valid passport

If you want to travel, your visa must be in a valid passport.

If your passport expires, you must apply to transfer your visa to a new passport before you can travel.

To transfer your visa, you must:

  • send us your old and new passports
  • complete an ‘Application for Transfer or Confirmation of a Visa’
  • pay a transfer fee.

 

Application for Transfer or Confirmation of a Visa (INZ 1023)

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