New Zealand: New Retirement Policies

There are now two new retirement categories for individuals interested in retiring in New Zealand – they took effect on March 29th 2010.

To apply under the Parent Retirement Category, retirees must have children already resident in New Zealand and they must be greater in number than any other children residing elsewhere. They must also have NZ$500,000 liquid assets plus an annual income equal to at least NZ$60,000 at the time of application. In addition they have to make a four year investment in New Zealand of NZ$1 million…which is approximately USD700,000.  There are no minimum stay or age requirements.

To apply under the newTemporary Retirement Category, applicants must be at least 66 years old; make a two-year investment of NZ$750,000 (approximately US$532,670) and  have additional liquid assets of NZ$500,000 plus an annual income of NZ$60,000 at the time of application. In addition they have to have full medical insurance for the duration of their stay in New Zealand but do not need to prove any family ties with anyone already living in New Zealand.

For more information: www.immigration.govt.nz