New Zealand Immigration: Parent Retirement Resident Visa can help parents stay permanently with children

New Zealand Parent Retirement Resident Visa can help you get a Permanent Resident Visa to live in New Zealand permanently. You can apply to live in New Zealand permanently if you have a child who is a New Zealand citizen or resident. You will also need to meet certain income and investment requirements.

With New Zealand Parent Retirement Resident Visa you can live, work and study in New Zealand, include your partner in your visa application and apply for permanent residence after 4 years of keeping your funds invested in New Zealand.

Your child’s immigration status is the starting point to becoming eligible for the New Zealand Parent Retirement Resident Visa. Your child must be a New Zealand citizen or resident and you need to 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.

Further, you must provide evidence your child lives in New Zealand, which may include power bills, employment records or tax records from Inland Revenue.

After Parent Retirement Resident Visa is granted and all the conditions at the end of your 4-year investment are met, you may be eligible for a Permanent Resident Visa. Now you can travel in and out of New Zealand for the first 2 years of your 4-year investment period. Thereafter, if you are 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.

Investment Required

You must have NZ $1 million or more to invest in New Zealand for 4 years. The funds 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. You must transfer your investment funds directly from your bank account to New Zealand through the banking system.

If your residence application gets approved, you will have 12 months to transfer your investment funds to New Zealand. If you want to come to New Zealand to investigate investment opportunities, you will need to apply for work visa.

Additionally, you must have an annual income of NZ $60,000 or more from pension, earnings from rental properties etc. You must also have at least NZ $500,000 as settlement funds which must be on top of your annual income and your investment funds.