There are two retirement visa policies. Both aim to increase investment and stimulate the economy.
The Parent Retirement Category gives priority to high net worth individuals who are already wanting to migrate to New Zealand under the Family Category. Requirements are to invest a minimum of $1 million in New Zealand over four years.
The Temporary Retirement Category is a two year visa for those wanting to spend some of their retirement years in New Zealand. To be eligible applicant’s invest in New Zealand and indemnify the government against possible health and welfare costs. Funds of $750,000 are required over the two year term of the permit. Temporary Retirees will be able to renew their visas as long as they continue to meet criteria including investment funds, income and health insurance.
Note – some retirees from North America spend 6 months of each year in New Zealand on a Visitor’s Visa. On a US passport 3 months is automatically granted to visit New Zealand and this can be extended for a further 3 months. You cannot apply for another Visitor’s Visa until you’ve been out of the country for the same period of time. In other words, if you’ve stayed in New Zealand for 6 months, then you cannot reapply for 6 months. There are no restrictions on owning property or opening bank accounts as a Visitor, so becoming a ‘Snow Bird’ or following the sun is a possibility.