Temporary Retirement Visitor Visa
You must be able to invest NZ$750,000 in New Zealand, and keep it for at least two years. To qualify, the investment must be made in lawful enterprises or managed funds, be able to make a commercial return, have the potential to contribute to the country’s economy, and has to be made in New Zealand Dollars (NZD).
The investment cannot be made in properties for personal use, such as a home, a boat or a car.
Usually, the investment can be made in one or a combination of:
- Bonds issued by the government or local authorities or firms traded on the New Zealand Debt Securities Market (NZDX) or firms with at least a BBB- or equivalent rating or registered banks or finance companies.
- Philanthropic investments.
- Equity in NZ firms (public or private) or registered banks.
- NZ eligible venture capital funds.
- Angel investor funds.
- Residential property development (if the purpose of the development is to make a commercial return and not for personal use).
- Commercial property.
In addition, you must have funds/assets of NZ$500,000 to live on, and an annual income of NZ$60,000.
You may include your spouse/partner in the application.
This visa allows you to stay 2 years in New Zealand. You can move your funds from an investment to another, provided that it still meets the above requirements. You cannot include your dependent children in the application.
After 2 years you may be eligible for a Permanent Resident Visa. The permanent resident permit will allow you to live and work indefinitely in New Zealand. To be granted as permanent resident you must have kept the investment for 2 years, spent significant time in the country, be committed to live in New Zealand, show ties such a permanent home and be able to speak English.
After 5 years of residency, you may apply for citizenship. You may be required to attend an interview and have knowledge on New Zealand’s history, culture and values.
- You must be at least 66 years old.
- Evidence that you have the assets/funds to make the investment and to live on, such as bank statements, title deeds, property/assets valuations, shares certificates or business ownership documents.
- Evidence that the funds are earned lawfully, such as tax returns, pay slips, business shareholdings, business financial statements, dividends, receipts of property sales, bank certificates, shares trading profits or gifted or inherited money.
- Evidence of your income, such as a pension, earnings from rental properties, dividends from share portfolios, interest from investments, profits from owning a company or share market trading profits.
- Transfer your investment funds to New Zealand from your bank account to a New Zealand bank and make the investment during the first 3 months after the visa application is approved.
- Once the investment is made, provide documents from a trusted professional like a chartered accountant or solicitor confirming it.
- Have a chest x-ray and a medical examination as proof of your good health.
- Good character, not pose a security risk and not threaten New Zealand’s international reputation.
- Fit and proper person, all businesses you have influence over must have complied with all immigration, employment and taxation laws. You must have never been investigated by the Serious Fraud Office or the New Zealand police for any offense resulting from business dealings, you must have no convictions for an offense involving dishonesty and have never been involved in business fraud or financial impropriety.
No nationality is officially restricted
Dual citizenship is recognized in New Zealand. You are not required to renounce your previous nationality to become a citizen of New Zealand.
- Original and photocopy of passport
- Medical Certificate
- Original Police Clearance Certificate
- Evidence of language skills
- Original or Certified copy of Birth Certificate (if applicable)
- Original or Certified copy of Marriage Certificate (if applicable)
- Bank Statement
- Proof of assets
- Evidence of Business Background
- Statement of Source of Funds
- Proof of income
- Two passport-size photos
- dual citizenship Yes
- Family members included Yes
- land ownership Yes
- Physical residence required No
- Personal visit required No
- Language skills required No
- Interview required No
- Investment Single NZ$750,000
- Investment Family 4 NZ$750,000
- Minimum annual income NZ$60,000
- Time to citizenship 84
- Time to permanent residency 24
- Visa-free countries 172
- Financing available No
permanent residency benefits
The Kingdom of New Zealand also includes the self-governing autonomous states of the Cook Islands, Niue, and Tokelau. It has a population of over 4.5 million inhabitants. The capital is Wellington, but its most populated city is Auckland, both of which are located on the North Island. Its official languages are English, Māori and the sign language of New Zealand. Its official currency is the New Zealand Dollar (NZD), which is one of the ten largest global transaction currencies.
Visa Free Travel
Individuals who have a permanent place of abode in New Zealand or spend at least 183 days in any 12-month period are considered tax residents.
Tax residents are taxed on their worldwide income, while non-residents are subject to tax on their NZ-source income. Tax exemptions may apply for certain income accrued in NZ by non-residents.
New residents may be granted a four-year tax exemption on income accrued abroad.
Personal income is taxed at progressive rates up to 33%.
There is no capital gains tax, however certain gains derived from the sale of real estate may be included in the personal income tax base. Gains on financial instruments may be treated as ordinary income and taxed on an accrual basis. Rental income is taxed at standard rates.
Dividends are treated as ordinary income, but a tax credit for underlying tax paid may be available. Income derived from certain collective investment vehicles is taxed at progressive rates of 10.5%, 17.5%, and 28%.
New Zealand has enacted extensive controlled foreign company rules. The rules apply when five or fewer New Zealand residents directly or indirectly control more than 50% of a foreign company, or when a single New Zealand resident directly or indirectly controls 40%. Passive income of a CFC is attributable.
Apart from the CFC rules, there is a Foreign Investment Fund regime. This regime applies if the investor does not have a sufficient interest in a foreign entity for it to be considered a CFC. Under this regime passive income derived from foreign investments and retained in foreign entities may be taxable if certain conditions are met.
Local authorities levy real property taxes on the official value of the property. There are no transfer, inheritance and net worth taxes.
Goods and services tax is levied at a 15% rate, although certain supplies are tax-exempt.
Regarding corporate taxation, resident entities are subject to an income tax of 28% on their worldwide income. If you want to learn more about New Zealand’s corporate taxation, legal framework and tax treaties, check out incorporations.io/new-zealand.
This should not be construed as tax advice. We have access to a global network of qualified attorneys and accountants who can give you the proper advice for your particular circumstances. Contact us for further information.
- Property tax Yes
- Transfer tax No
- Inheritance tax No
- Net worth tax No
- CFC law Yes
- Tax residency days 183
- Personal income tax rate 33%
- Capital Gains tax rate 33%
- Investment income tax rate 33%
- Territorial taxation Yes
ProceduresPlease sign in to view
Our qualified lawyers in New Zealand will handle all paperwork, and guide you through each step of the process to ensure that it is as fast, efficient and pain-free as possible.
First, our lawyers will conduct a due diligence check on you to ensure that you are eligible and meet the criteria to apply for the visa.
We will send you the visa application forms, and provide assistance to complete the questionnaires, and translate and legalize supporting documents. You will be required to pay the non-refundable fee and levy.
We will submit your application and supporting documents to New Zealand Immigration, and wait for a decision. This usually takes about 9 months.
If required, we will provide you access to our network of advisors to find the most suitable investment opportunities according to your needs.
If the visa application is approved in principle you must transfer the funds and make the investment within three months. Once made, our attorney will prepare the correspondent documentation and submit it to the relevant authorities. After that, you will receive your 2-year Temporary Retirement Visitor Visa.
For further information on New Zealand’s Temporary Retirement Visitor Visa and detailed procedures, contact us for a free private consultation.