New Zealand visa for retirement open for Brits
by Harleen Kaur - March 27, 2010
New Zealand, 27th March: A new type of New Zealand visa is open for all Brits wanting to stay for some time or spend their retirement in New Zealand.
The New Zealand retirement visa is a special chance to help British pensioners to live in New Zealand. However, this visa requires huge finance to become eligible, which might become a cause of concern for many.
Those aged 65 or above are eligible to apply for this retirement category of New Zealand immigration from 29th April, 2010 onwards.
• An applicant can apply either for a parent retirement visa if he has a family in the country; or
• A temporary retirement visa if the applicant has no existing family relations living in New Zealand.
Earlier, Brits aged above 56 years were not eligible for immigration into New Zealand. Moreover, there was no fixed retirement policy for New Zealand immigration.
PARENT NEW ZEALAND VISA------Under the Parent New Zealand visa, applicants are given permanent residency in New Zealand provided there are an equal number or more family members living in New Zealand than in any other nation of the world.
Some other requirements for Parent New Zealand Visa include---
• qualifying investments worth NZ$1 million (£465,000) over a period of 4 years;
• $500,000 for maintenance; and
• at least $60,000 per annum income.
TEMPORARY NEW ZEALAND VISA---
Temporary retirement visa allows a two-year permit for Brits to stay in New Zealand. However, the applicants applying for temporary New Zealand visa must ---
• make qualifying investments to the tune of NZ$750,000 (£345,000);
• $500,000(£230,000) for maintenance;
• an annual income from pensions to the tune of $60,000(£28,000);
• and some other investments.
Temporary retirement visa for New Zealand needs to be renewed after two years.
Prior to these changes introduced in the New Zealand immigration, Brits were allowed to seek New Zealand work visa.
Although, the rate of immigration from UK into New Zealand has fallen down considerably after the global economic downturn, but still, UK happens to be a major source of immigration in New Zealand with nearly 17 percent of migrants getting approval for permanent residency in New Zealand.
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