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The thought of retiring and moving to New Zealand has crossed the minds and been made a goal by many U.S. citizens. In the past few years, the country has become an increasingly popular place to retire. To reside in the nation, you must first obtain the proper permissions. Fortunately, there are two types of visas available to those who wish to spend their final years surrounded by the country’s lush wilderness and vast landscapes.
The Requirements and Details of the Retirement Visa Options in New Zealand
The two visas available to expats looking to retire in the nation include the parent retirement resident visa and temporary retirement resident visa. Both of these options have their own set of requirements and regulations to follow and meet. It’s smart to have an idea of what each of them entail before you apply for citizenship.
Parent Retirement Resident Visa
This visa gives you the freedom to work, study and live in New Zealand but you’ll need a resident of the country to act as your responsible party. You must also earn a salary of NZ$60,000 a year and be able to invest NZ$1 million over the next 4 years. You’ll also need to provide proof that you have another NZ$500,000 to use as you reside in the country. Once you can provide these proofs, you will be eligible for permanent residency after 4 years of residing in the nation as a retiree.
Temporary Retirement Resident Visa
This visa allows you to reside in the country for two years. To be considered eligible, you must be 66 years of age or older, make an annual salary of NZ$60,000, be able to invest NZ$750,000 in two years, and have NZ$500,000 to live on. You can use an online currency calculator to see what these figures would be in American money.
If you do not qualify for either of these visas open to retired expats, there are other visas you may want to consider including the investor visa. However, this visa requires a substantial amount of investments which makes it one of the more expensive options, costing upwards of NZ$10 million.
Preparing for NZ Retirement
After you apply for a visa, it’s time to prepare for your retirement in New Zealand. You’ll need to decide where to move to in the nation, what kind of housing you would like whether you choose to rent or buy, and how to get the proper medical care you need while you reside there. What your expenses will average out to and how much you have to live off of will also need to be thoroughly planned out and considered.
As a retiree, you may want to hire professional assistance to help you find the right housing and to care for other facets of the relocation process such as the transport of your belongings, etc. International movers offer affordable assistance, various services and often times, senior discounts. It’s wise to reduce the amount of responsibilities you have on your plate by hiring professional help.