Temporary Retirement Category - New Zealand

The prospect of retiring to New Zealand is attractive for many people, but, until now, there has been no retirement immigration category. A new visa – the termporary retirement category – marks a change in official thinking.

As its name suggests, the new category does not guarantee permanent residence. It is a two year visitor visa which, importantly, is renewable. The new visa is not for everyone, however. The main requirement is money. This begins with the NZ$2,600 application fee.

Then, to be approved under the Temporary Retirement Category you must:

• be aged 66 years or over
• invest NZ$0.75 million in New Zealand for two years into an acceptable investment
• demonstrate ownership of NZ$0.5 million of maintenance funds and an annual income of NZ$60,000 at time of application
• meet standard health and character requirements
• hold and maintain comprehensive travel and/or health insurance for the duration of your stay

Successful applicants will be issued with a two year multiple entry visitor’s visa/permit that allows them to stay for two years, and travel in and out of New Zealand during that time.

You can re-apply for another visitor’s permit/visa under this category if you:

• continue to meet all the requirements above; and
• can demonstrate that you have maintained your travel and/or health insurance and your investment funds in an acceptable investment during the two year duration of your stay.

You may include your partner in your application; however dependent children cannot be included.

An acceptable investment is defined as investment that:

1. is in either one or more of the following:

• bonds issued by the New Zealand government or local authorities, or
• bonds issued by New Zealand firms traded on the New Zealand Debt Securities Market (NZDX), or
• bonds issued by New Zealand firms with at least a BBB- or equivalent rating from internationally recognised credit rating agencies (for example, Standard and Poor’s), or
• equity in New Zealand firms (public or private), including managed funds

and:

2. is capable of a commercial return under normal circumstances and has the potential to contribute to New Zealand’s economy, and

3. is invested in New Zealand in New Zealand currency, and

4. has the potential to contribute to New Zealand’s economy, and

5. is invested in lawful enterprises or managed funds that comply with all relevant laws in force in New Zealand, and

6. is not for the personal use of the applicant(s), and

7. is not (directly or indirectly) invested in residential property or deposit taking financial institutions (eg banks or finance companies).

From 29 March 2010 application forms and guides for the Temporary Retirement Category will be available for downloading, or from Immigration New Zealand branches.