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A Few Tips For New Zealand Parent Retirement Resident Visa Applicants

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If your child lives in New Zealand as a resident or citizen, and you can invest in this country, you will be eligible for the New Zealand Parent Retirement Resident Visa. By receiving this visa, you will enjoy many benefits. For example, you can live, work, and study in this country permanently. You can also include your partner in the visa application.

Read this article to know the requirements of the New Zealand Parent Retirement Resident Visa, the application process, how to invest, costs, and other details.

What is a Parent Retirement Resident Visa?

If your adult child lives in New Zealand and is a citizen or resident of the country, you can apply for a Parent retirement resident visa. To be eligible for this visa, your annual income must be at least NZ $ 60,000. Besides, you should be able to invest NZ $ 1 million for four years. Then you have to invest NZ $ 500,000 to be able to live in this country. You can apply for residency after completing your four-year period. Those who want to apply for the  Parent Retirement Resident Visa should know that:

  • Holders of this visa can live, work, and study in New Zealand.
  • They can also include their partner in their visa application.
  • After four years of initial investment, it is possible to apply for residency.
  • If a New Zealand Immigration accepts a residence application, applicants will have 12 months to transfer their capital to New Zealand.
  • Applicants for this visa can investigate New Zealand investment opportunities before investing under a work visa.
  • The visa must be entered in a valid passport. If the passport expires, the visa holder must renew the passport and then:
  • Send old and new passports to New Zealand Immigration.
  • Pay the visa transfer fee.
  • Complete the Application for Transfer or Confirmation form of a Visa.

What are the requirements for obtaining this visa?

  • All applicants for the Parent Retirement Resident Visa must provide two acceptable photographs and note that your head and shoulders must be visible in the photograph.
  • You must also provide the original and certified copy of your passport. Your birth certificate is also required.
  • You should do a medical examination and chest x-ray to prove your good health. If you have submitted these documents during the last 36 months due to another visa, you do not need to resend them.
  • If you are older than 17 must present a police certificate. This certificate is issued by your country of citizenship. Please note that this certificate must be in English with less than six months old from its issuance date. If the certificate is in another language, it must be translated into English. For detailed information on how to obtain this certificate, you can visit the New Zealand Immigration website to get up-to-date information based on your country.
  • Your child must be a citizen or resident of this country. Therefore, it is necessary to provide the following documents:
  • New Zealand passport
  • Citizenship documents
  • New Zealand Resident Visa
  • Australian passport
  • Your sponsoring child must be at least 18 years old to be considered an adult. Also, if your child is a resident of this country, his / her visa must be free of section 49 conditions. Section 49 conditions are usually listed on the visa label.
  • Your child must live in this country. Therefore, you must provide the following documents:
  • Letters or bills addressed to your child such as power bills
  • Employment documents
  • Payments from Work and Income
  • Tax records
  • Mortgage agreements
  • Documents proving your child’s belongings have been moved to New Zealand
  • You must not have a dependent child when applying for this visa. When completing your residence application, New Zealand Immigration will ask you about your family. A dependent child is:
  • 17 years old or younger
  • Between 18 and 20 years old, single or has no children
  • Between 21 to 24 years old, single, or have no children or be financially dependent on their parent
  • You must prove your relationship with the sponsoring child. Therefore, you can provide the following:
  • Birth certificate
  • Documents related to guardianship

If you are a legal guardian of a child, you must provide the following documents:

  • Evidence that the child’s parents are deceased and died before the child turned 20.
  • The child’s medical and school records show that you have cared for him or her

If you are the child’s grandparent, you must provide the following documents:

  • Evidence that the child’s parents are deceased and died before the child turned 20.
  • Legal evidence related to the child’s guardian
  • The child’s medical and school records show that you have cared for him or her.
  • You must prove your relationship with your other children as well. Your children include:
  • Your biological children or adopted children
  • Your partner’s children who lived with you as a family member before they turned 17
  • Children, you were the legal guardian for

The documents you must provide are:

  • Birth certificate
  • Documents related to guardianship
  • Any document that proves your relationship with your children
  • You have to invest NZ $ 1 million for four years. You must specify the type, location, and value of your assets and provide the following documents for this purpose:
  • Bank statements
  • Title deeds
  • Property valuations
  • Share certificates
  • Business ownership documents
  • Asset valuations

Note that you can not borrow or loan to provide your capital. You can also own an investment jointly with your partner or someone who isn’t your partner.

  • You must have acquired your capital legally. Therefore, you must provide the following documents:
  • Tax returns or certificates
  • Payslips
  • 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
  • If your visa application is approved, you must transfer your funds to New Zealand within 12 months. You must transfer this capital directly from your bank account to New Zealand via the banking system. To check New Zealand investment opportunities, you can first come to this country on a temporary visa. Note that the time frame set for the transfer of capital is not renewable.
  • You must first invest at least NZ $ 500,000.
  • You must provide proof that your annual income is at least NZ $ 60,000. This annual income can be earned by yourself or together with the partner you entered in the visa application.
  • You can also bring your partner to New Zealand under this visa. You must prove your relationship with your partner by providing documents such as a marriage certificate. Your partner should also be able to meet the character and health requirements. To prove your partnership, New Zealand Immigration will consider the following:
  • How long have you been living together?
  • Do you support each other financially?
  • Do you share common household tasks?
  • Do others recognize your relationship?
  • Whether you own assets together or share your assets?
  • You need to present documents from a trusted professional such as a chartered accountant or solicitor that approve:
  • Your name
  • The amount invested in this country
  • Investment start date
  • The name of the organization in which you invest
  • The number of shares or bonds you bought in any organizations

How to apply for this visa?

The application process for the Parent Retirement Resident Visa includes the following steps:

  1. You must first complete the Parent Retirement Category Residence Application and send it to New Zealand Immigration with the visa application fee and immigration levy. Also, note that you must submit the other supporting documents mentioned in the visa requirements section.
  2. New Zealand Immigration will review your visa application. If your application is approved, you will go to the next step.
  3. In this step, you will have 12 months to invest in New Zealand. You must show that your assets and capital come from the source mentioned in your visa application.
  4. Your conditions will be reviewed after you have been granted a visa. At the end of four years, your status will be checked again. If you qualify, you will receive a Permanent Resident Visa.

 

Can the visa holder travel?

In the first two years of a four-year investment period, you can travel in and out of New Zealand. After these two years, if the New Zealand Immigration approves that you meet all the conditions, you should apply for a variation of conditions. This way, you can travel in and out of New Zealand for the last two years.

Note that you will probably have to leave New Zealand if you do not meet your visa requirements. After these four years, you can also apply for a permanent resident visa.

 

Let’s sum up …

Our main focus was on the Parent Retirement Resident Visa, its requirements, and the application process in previous sections. In other sections of the Visa Library website, you can find other New Zealand visas as well as visas from other countries.

If you have already received a Parent Retirement Resident Visa and have experience in this field, you can share it with other readers through the comments section. This will help them make better decisions. You can also ask any questions via this section and we will answer as soon as possible.

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