Information regarding New Zealand retirement visas

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Making the Most of your Money Transfers from the UK Pounds to New Zealand Dollars

At Regency FX we help you achieve the most from the currency you are converting when you send money from UK to New Zealand.

As an independent currency specialist, we have lower overheads than the banks enabling us to pass on the savings to you so you get the most from your money transfers to New Zealand. Because we focus on our clients’ bottom line, you can be sure that our costs are low and this means better rates to send money to New Zealand.

We can also discuss and agree on the right time to exchange your money rather than using a bank or online-only system and having to accept the rate they give you on the day.

All money transfers are conducted through safeguarded client accounts.

Let us explain what a ‘safeguarded’ account is and how it benefits our clients. Regency FX keeps your funds in a separate account which blocks access by third parties and keeps your money safe until you are ready to transfer money from the UK to New Zealand.

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New Zealand Visa Information

I am sure you have thought about retiring to New Zealand before. Well, I am going to explain the New Zealand visa requirements to you as getting a visa is one of the most important things when looking to retire over there.

One of the most important aspects is contacting immigration in New Zealand and making sure you are familiar with all the latest immigration updates. These will keep you up to date with all the New Zealand visa information you need as well as ensuring you don’t fall foul of New Zealand’s visa requirements.

There are two types of New Zealand visas, we will go into this in more detail below together with timeframe and cost.

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What are the costs?

There are fees involved when applying for visas as you must pay for it all to be processes correctly; the money you spend on the fee you cannot get back even if you do not end up getting a visa.

The Temporary Retirement Visitor Visa is 3,366NZD and the Parent Retirement Resident Visa is 3,729 NZD.

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What is the timeframe?

For a Temporary Retirement Visitor Visa, it usually takes around 39 days give or take a few days.

The Parent Retirement Visa takes a lot longer, it takes around 21 months.

The reason why visas cannot be done quickly is because there is a lot of information to be processed and they need to ensure that the information and documents you have provided are correct and valid before they can supply you with a visa.

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Are there different types of visas?

Yes, there are. There are two main types of visas for UK retirees in New Zealand.

The first option is the Temporary Retirement Visa. This one is only for people that can invest money into New Zealand for up to 2 years. After 2 years has passed you can re-apply for it if you want to.

For this visa you need to:

  • Be at least 66 or older
  • Have a minimum of 750,000 MZD (£390,000) invested in investments in New Zealand for the whole 2 years
  • Have good travel and health insurance for the duration of the time you are there for
  • Have another 500,000 NZD to be able to live there and have an annual income of 60,000 NZD

With this visa you are permitted to travel in and out of the country and your partner can be involved in your application. It is good to bear in mind that you cannot bring young children that depend on you.

The second visa is the Parent Resident Visa. This is for people who have an independent child that is a permanent resident or citizen of New Zealand.

This visa will let you join them over there and if you want to you are allowed to work or study over there and bring your partner.

For this visa you need to:

  • Have an annual income of at least 60,000 NZD and have 500,000 NZD for you to live on whilst you are there?
  • Invest 1m NZD (£520,000) over 4 years
  • After the 4 years you can apply for permanent residency

You are permitted to travel in and out of this country for the first 2 years, after you become a permanent resident then you can do what you want when you want with no rules!

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Documents that are required

There are some documents that are required to be able to apply for any of these visas. If you do not have the right documentation, then you will not be able to get the visa.

You will need:

  • Evidence of good character (Police report from the UK)
  • Evidence of good health (medical exam)
  • Proof that your partner meets the requirements too
  • Proof of ID (Passport, birth certificate and recent photographs of you)
  • Evidence that you have got the right amount of money to invest, annual income and money to live on
  • Proof of your independent child’s residency status and proof of your relationship to them

Who are we?

Regency FX are a UK based independent currency broker, specialising in high volume transfers.

We pride ourselves on our premium level of customer service, you will be allocated your own personal account manager whom you will have direct access to.

All funds transferred through Regency FX are made using client segregated accounts in accordance with the FCA (Financial Conduct Authority) guidelines.

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The important thing is the comparison, online rates shown on Google and other search engines are not always accurate for the consumer.

They can often refer to the rates that banks exchange at rather than what is available to you, the customer.

Even if you are just looking for property at this stage it is worth getting in touch to discuss your options.

We can monitor the market on your behalf enabling you to budget more effectively.

As a first-class currency transfer service, here at Regency FX we endeavour to get the best available rate regardless of how much you are transacting.

Get a quote and see how we stack up.