Recently, the New Zealand government has rolled out two new retirement visas. Here is a little detail of the visas:
- Parent Retirement Visa: This visa category enables the New Zealand Immigration to prioritize high net worth people, who are already contemplating to migrate to the country under the Family Category. As per the this category, the visa holders must invest at least an amount of $1 million after migrating to New Zealand over four years.
- Temporary Retirement Visa: This visa category is for those retired people who intend to spend some time in New Zealand. However, this too requires them to meet the condition that they invest there, as well as repay the government for the health and welfare costs. A temporary retiree will be required to invest $750,000 over two years. Retirees under this category can be able to renew their permits up to the time when they could meet different criteria, including the investment funds and health insurance.
According to the spokesperson for Labor’s Immigration, Pete Hodgson, the idea of a retirement visa plan was in fact considered a decade ago, but dismissed considering the scheme would not work and fearing high costs involved in it. But, the country’s current Immigration Minister had decided to give the scheme a green signal.
Now, if some people out there are contemplating a plan to immigrate to New Zealand after retirement, here are two more options! However, these visa categories are meant for rich retirees, and this is what for which the plan already drawing criticism from all around! Let’s see New Zealand immigration’s new retirement visa plan brings what changes to the country’s immigration scenario.