Parent Retirement Category Visa

At a glance

The Parent Retirement Category is a residence category that allows parents of New Zealand citizens or residence class visa holders to live permanently in New Zealand by making a qualifying investment and demonstrating sufficient settlement funds. [F3] The objective of this category is to provide a residence class visa to parents with family links who wish to make a significant contribution to New Zealand's economy. [F3.1]

How to apply

Applicants must lodge a completed residence application form, pay the prescribed fee, and provide supporting documents including evidence of the nominated investment and settlement funds and sponsorship by their adult child. [F3]

If the business immigration specialist is satisfied that all requirements are met, the application will be approved in principle. The principal applicant will receive a letter advising of the approval in principle, and the resident visas will be granted subject to conditions under section 49(1) of the Immigration Act 2009 once the investment and transfer requirements are fulfilled. [F3.25]

After approval in principle, the principal applicant must, within 12 months of the date of the approval letter:

• Transfer the nominated investment funds to New Zealand. The funds must be the same nominated funds (or those resulting from sale of the same assets, or funds secured against those assets as agreed by a business immigration specialist) and must be transferred through the banking system directly from the applicant's bank account, or through a foreign exchange company that uses the banking system, provided satisfactory evidence is supplied. [F3.25]
• Provide acceptable evidence of the transfer, including telegraphic transfer documentation and a current bank statement showing the transfers. [F3.25]
• Invest the transferred funds in an acceptable investment as described in [F3.10.25]. [F3.25]
• Submit evidence of the investment, including details of the investor, amount, date, type of investment, documentary evidence, and a letter from an independent professional confirming the investment. [F3.25]

If the principal applicant does not present acceptable evidence of having transferred and invested the nominated funds within 12 months, the application for residence must be declined. Evidence must be provided no later than three months after the expiry of that 12‑month period. [F3.25]

The investment period begins:

• If the investment already meets requirements, on the date of the approval in principle letter.
• If the investment is made after approval, on the date the investment requirements are met. The date the investment period begins is specified in the letter advising of the visa conditions. [F3.25]

After approval in principle, the principal applicant may apply for a temporary work visa valid for multiple entries for 12 months to travel to New Zealand to arrange the transfer and investment of funds. The partner included in the application may also be granted a work visa for the same period. [F3.25]

Grant of resident visas and conditions

Once the principal applicant has met the transfer requirements set out in F3.25.10 and placed the funds into an acceptable investment, a resident visa is granted. [F3.30] The resident visa is subject to the following conditions imposed under section 49(1) of the Immigration Act 2009:

• The principal applicant must retain an acceptable investment in New Zealand for a minimum of four years under the Parent Retirement Category. [F3.30]
• The principal applicant must inform the nearest branch of INZ of any changes of New Zealand address during the investment period. [F3.30]
• At the two-year anniversary of the investment period, the principal applicant must submit evidence that they are retaining an acceptable investment in New Zealand. [F3.30]
• Within three months after the expiry date of the investment period, the principal applicant must submit evidence that they have met the requirement to retain the acceptable investment. [F3.30]

During the investment period, investment funds may be transferred from one investment to another provided:

• the funds remain invested in New Zealand in New Zealand currency at all times during the investment period; and
• the investment of the funds continues, during the investment period, to meet all other requirements for investments. [F3.30]

Immigration New Zealand will attempt to contact the principal applicant three months before the two-year anniversary and three months before the expiry of the required investment period, requesting evidence that the section 49(1) conditions are being met. [F3.35] The evidence must be provided no later than three months after the two-year anniversary and the expiry of the required investment period. [F3.35]

Suitable evidence of retention of an acceptable investment must include documentation from a reliable independent professional (such as a solicitor or chartered accountant) stating: the full name of the investor, the amount invested, the date the investment was lodged, the type of investment (including names of companies and number of shares or bonds purchased if applicable), and confirmation that the funds were invested in New Zealand for the full investment period or, if transferred, the date of lodgement and withdrawal. [F3.35] If the principal applicant has established or purchased a shareholding or bonds in more than one business, this information must be provided for each of the businesses. [F3.35] If the principal applicant has transferred funds between several organisations during the investment period, letters from every organisation invested with must be provided, and lodgement and withdrawal dates will be checked to ensure that funds have been held continuously in New Zealand for the required investment period. [F3.35] A business immigration specialist may request any other information in order to be satisfied that the requirements have been met. [F3.35]

When the principal applicant has satisfied an immigration officer that the section 49(1) conditions have been met at the two-year anniversary of the investment period, the principal applicant will be eligible for a variation of travel conditions to allow travel for a further 24 months (see RV3.15). [F3.35] When the principal applicant has satisfied a visa or immigration officer that the conditions imposed on their resident visa under section 49(1) have been complied with, those conditions will no longer apply and the officer will advise the applicant in writing. [F3.35]

Eligibility criteria

To be approved under the Parent Retirement Category, the principal applicant must: [F3][F3.5]

• have an adult child who is a New Zealand citizen or residence class visa holder and is eligible to sponsor them; [F3]
• be aged 65 years or over at the time of application; [F3]
• not have any dependent children; [F3]
• meet the Family requirements: [F3.5][F3.20]
  • The principal applicant must be the parent of an adult child whose primary place of established residence is New Zealand and who is a New Zealand citizen or residence class visa holder. [F3.20]
  • The principal applicant must have no dependent children. [F3.20]
  • An adult child who arrived as a mass arrival and was not an unaccompanied minor will not be considered for the purposes of the family requirement. [F3.20]
  • Evidence of the parent-child relationship may be original or certified copies of birth certificates, household registration documents, or adoption evidence (see R3). Other evidence establishing the relationship may also be provided. [F3.20]
  • Evidence of the adult child's immigration status includes, for citizens: a valid New Zealand passport, Certificate of Citizenship, a recent official citizenship statement from the Department of Internal Affairs, a New Zealand birth certificate, or an endorsement in a foreign passport indicating New Zealand citizenship. For residence class visa holders: a New Zealand resident visa or permanent resident visa, a residence permit or returning resident's visa granted under the Immigration Act 1987, or a valid Australian passport. [F3.20]
  • Evidence that New Zealand is the adult child's primary place of established residence may be required if they appear to have spent significant periods outside New Zealand. Acceptable evidence includes correspondence, employment records, Ministry of Social Development benefit records, banking records, rates demands, Inland Revenue records, mortgage documents, tenancy and utility agreements, and documents showing household effects have been moved to New Zealand. The presence or absence of any single document is not determinative; each case is decided on the basis of all the evidence provided. [F3.20]
• nominate funds and/or assets equivalent in value to at least NZ$1 million and undertake to invest them in New Zealand for a period of four years; [F3.5]
  • The four-year investment period runs from the date the investment is placed, and any investment held before approval in principle does not count. [F3.10][F3.10.15]
• demonstrate ownership of these funds and/or assets and that they have been legally earned or acquired; [F3.5]
  • Ownership may be solely by the principal applicant or jointly with their partner if they have been living together for 12 months or more in a genuine and stable partnership; in that case the full value of jointly owned funds may be claimed. [F3.10.1]
  • Funds held jointly with a person other than the partner may only be claimed in proportion to the principal applicant's documented ownership share. [F3.10.1]
  • Nominated funds must be unencumbered (not subject to any mortgage, lien, charge or creditor claim) and must not be borrowed. [F3.10.10]
  • Funds must be earned or acquired legally according to the laws of the country of origin; gifted funds are acceptable if the gift was unconditional and the business immigration specialist is satisfied the gifted funds were earned legally by the donor. [F3.10.5]
  • Funds already held in New Zealand may be included, valued at market value at the time of application, provided they were originally transferred through the banking system or legally earned in New Zealand. [F3.10.15]
• transfer and place the funds in an acceptable investment in accordance with the instructions at F3.10.25; [F3.5][F3.10.25]
  • Acceptable investments must: be capable of a commercial return; not be for personal use; be in NZ currency; be in lawful enterprises or managed funds; have potential to contribute to NZ's economy; and fall within categories such as government bonds, NZDX bonds, bonds of NZ firms with at least BBB- rating, equities in NZ firms (including managed funds), NZ bank bonds/equities, residential property development, or bonds in finance companies under certain conditions. [F3.10.25]
  • Managed funds must invest only in NZ companies; international exposure is acceptable only for the proportion invested in NZ companies. [F3.10.35]
  • Residential property development must be new developments (not renovations or extensions) that have required consents, are intended for commercial return, and cannot be occupied by the investor's family. [F3.10.40]
  • Personal use assets (personal residence, car, boat etc.) do not count as acceptable investment. [F3.10.30]
  • If an investment fails to meet one of the requirements, a business immigration specialist may exercise discretion on a case-by-case basis if the failure was beyond the applicant's control. [F3.10.25]
  • Evidence of nominated funds and assets must be provided, with valuations no more than three months old and from a reliable independent agency. A business immigration specialist may seek further evidence. [F3.10.20]
• nominate NZ$0.5 million of settlement funds and demonstrate ownership of these funds and/or assets; [F3.5][F3.15.5]
  • Settlement funds are intended to demonstrate the ability of the applicant and their partner to support themselves during the four‑year investment period. [F3.15.1]
  • Funds may be owned solely by the principal applicant or jointly with their partner, provided the business immigration specialist is satisfied the couple have been living together for 12 months or more in a genuine and stable partnership. [F3.15.10]
  • If the funds are owned jointly with a person other than the partner, only the proportion for which the principal applicant provides evidence of ownership may be claimed. [F3.15.10]
  • Evidence of settlement funds may include New Zealand bank accounts, offshore bank accounts (with proof of accessibility from New Zealand), or acceptable evidence of net assets in New Zealand or offshore. [F3.15.15]
• demonstrate an annual income of at least NZ$60,000; [F3.5][F3.15.5]
  • Annual income may be earned solely by the principal applicant or may be the combined income of the principal applicant and their partner included in the resident visa application. [F3.15.20]
  • Evidence of annual income may include pensions, earnings from rental properties, dividends, interest, profits from company ownership, or share trading. [F3.15.25]
• meet health and character requirements (see A4 and A5). [F3.5][A4][A5]

Interpretation & edge cases

The Parent Retirement Category is subject to the Family Category objectives in F1. Applications are assessed against the investment and settlement requirements as specified. [F3] The specific requirements for investment, settlement funds, income, and family are detailed in F3.5, which also mandates compliance with acceptable investment instructions (F3.10.25) and family requirements (F3.20). [F3.5]

The investment funds instructions define the minimum investment amount (NZ$1 million) and the four-year holding period. [F3.10] Ownership must be strictly documented, and any joint ownership with a partner requires proof of a genuine stable partnership; joint ownership with others only counts the applicant's share. [F3.10.1] All funds must be legally earned and unencumbered; business immigration specialists have discretion to decline if the funds would have been earned contrary to NZ criminal law. [F3.10.5][F3.10.10] Funds already in New Zealand must have been brought through the banking system or earned legally in NZ, and the previous holding period does not count toward the four-year investment period. [F3.10.15]

The definition of acceptable investment is broad but strictly excludes personal-use assets and requires the investment to be in NZ currency and with commercial potential. [F3.10.25] Special provisions apply to managed funds and residential property development, limiting acceptable investment to the New Zealand portion and new builds respectively. [F3.10.35][F3.10.40] A business immigration specialist retains discretion to accept an investment that fails a requirement if the failure was beyond the applicant's control, but this is assessed case by case. [F3.10.25] All valuations must be recent and from independent agencies, and the specialist can request further evidence. [F3.10.20]

Settlement funds and annual income

The settlement funds requirement ensures the principal applicant and their partner can support themselves during the four‑year investment period without burden on the New Zealand taxpayer. [F3.15.1] The applicant must nominate at least NZ$0.5 million in settlement funds and demonstrate an annual income of at least NZ$60,000. [F3.15.5] Ownership of the settlement funds follows rules similar to those for investment funds: wholly by the applicant, or jointly with a partner if the couple have been living together for 12 months or more in a genuine and stable partnership; otherwise only the applicant's documented share is counted. [F3.15.10] Evidence for settlement funds can be bank accounts (with accessibility proof) or net assets. [F3.15.15] The annual income may be earned solely by the applicant or combined with the partner, and evidence may take many common forms such as pensions, rental income, dividends, interest, company profits, or share trading. [F3.15.20][F3.15.25]

Family requirements

The Family requirements in F3.20 ensure the principal applicant is the parent of an adult child with a genuine and settled connection to New Zealand. [F3.20]

• The adult child must have their primary place of established residence in New Zealand. If they have spent significant time overseas, INZ may require evidence of residence. The operational manual lists possible documents (correspondence, employment records, benefit payments, banking, rates, Inland Revenue, mortgage/tenancy, household moving documents) but no single document is determinative — each case is decided on the totality of the evidence. [F3.20]
• Proof of the parent-child relationship is typically a birth certificate, household registration document, or adoption evidence (see R3). Other evidence may also be accepted. [F3.20]
• Evidence of the adult child's immigration status: for citizens, a New Zealand passport, citizenship certificate, DIA statement, birth certificate, or citizenship endorsement in a foreign passport; for residence class visa holders, a resident/permanent resident visa, residence permit/returning resident's visa, or a valid Australian passport. [F3.20]
• Adult children who arrived as part of a mass arrival group and were not unaccompanied minors are excluded from consideration under the Family requirements. [F3.20]

Resident visa conditions and investment transfers

Resident visas under this category are granted only after the principal applicant has satisfied the transfer requirements of F3.25.10 and placed the funds into an acceptable investment. [F3.30] The visa is immediately subject to conditions imposed under the Immigration Act 2009 s 49(1). These conditions require the principal applicant to maintain an acceptable investment in New Zealand for the full four‑year period, to notify INZ of any change of New Zealand address during that period, to provide evidence of the continuing investment at the two‑year anniversary, and to submit final proof of compliance within three months after the investment period ends. [F3.30]

Investment funds may be moved between qualifying investments during the four‑year period, but at all times the funds must remain invested in New Zealand in New Zealand currency and the new investment must itself meet all the requirements for acceptable investments. [F3.30]

Monitoring and compliance of section 49(1) conditions

Immigration New Zealand will attempt to contact the principal applicant three months before the two-year anniversary and three months before the expiry of the required investment period, requesting evidence that the section 49(1) conditions are being met. [F3.35] Evidence must be provided no later than three months after the two-year anniversary and the expiry of the required investment period. [F3.35]

To demonstrate retention of an acceptable investment, the principal applicant must provide documentation from a reliable independent professional (such as a solicitor or chartered accountant) confirming: the full name of the investor, the amount invested, the date the investment was lodged, the type of investment (including names of companies and number of shares or bonds if applicable), and confirmation that the funds were invested in New Zealand for the full investment period. [F3.35] If the principal applicant has invested in more than one business, this information must be provided for each. [F3.35] If funds have been transferred between several organisations during the investment period, letters from every organisation must be provided, and lodgement and withdrawal dates will be checked to ensure continuous investment in New Zealand for the required period. [F3.35] A business immigration specialist may request any other information needed to verify compliance. [F3.35]

At the two-year anniversary, if an immigration officer is satisfied that the conditions have been met, the principal applicant will be eligible for a variation of travel conditions allowing travel for a further 24 months (see RV3.15). [F3.35] At the end of the investment period, if the conditions have been complied with, those conditions will no longer apply and the officer will advise the applicant in writing. [F3.35] Conditions may be lifted if the principal applicant provides evidence of compliance within three months after the expiry date of the investment period. [F3.35]

If section 49(1) conditions have not been complied with at the two-year anniversary check or at the end of the required investment period, the resident visa holder may become liable for deportation under section 159 of the Immigration Act 2009. [F3.35]

Citations

• F3 — Parent Retirement Category
• F3.1 — Objective
• F3.5 — Parent Retirement Category requirements
• F3.10 — Investment funds
• F3.10.1 — Ownership of nominated funds and/or assets
• F3.10.5 — Definition of 'funds earned or acquired legally'
• F3.10.10 — Definition of 'unencumbered funds'
• F3.10.15 — Funds and/or assets already held in New Zealand
• F3.10.20 — Evidence of the principal applicant's nominated funds and assets
• F3.10.25 — Investment funds
• F3.10.30 — Personal use of investment funds
• F3.10.35 — Managed funds
• F3.10.40 — Residential property development
• F3.15 — Settlement funds and annual income
• F3.15.1 — Purpose of settlement funds
• F3.15.5 — Settlement funds and annual income requirements
• F3.15.10 — Ownership of settlement funds
• F3.15.15 — Evidence of settlement funds
• F3.15.20 — Annual income
• F3.15.25 — Evidence of annual income
• F3.20 — Family requirements
• A4 — Health Requirements
• A5 — Character requirements
• F3.25 — Approval in principle and transfer of funds
• F3.30 — Resident visas
• F3.35 — Section 49(1) conditions