Introduction of the Temporary Retirement Category

Policy effect

From March 29, 2010, the Temporary Retirement Category offered applicants aged 66 or older a visitor permit for up to two years with a multiple-entry visa. Requirements included NZ$750,000 in acceptable investments for two years, NZ$500,000 in additional maintenance funds, annual income of at least NZ$60,000, health and character requirements, and acceptable travel and/or health insurance. Dependent children could not accompany applicants.

Conditions and exceptions

Validated condition or limit: From March 29, 2010, the Temporary Retirement Category offered applicants aged 66 or older a visitor permit for up to two years with a multiple-entry visa.; Requirements included NZ$750,000 in acceptable investments for two years, NZ$500,000 in additional maintenance funds, annual income of at least NZ$60,000, health and character requirements, and acceptable travel and/or health insurance.

Official source excerpt

Quoted verbatim from the official source below. Ellipses indicate omitted text.

You are here: cite0†Temporary Entry » cite1†Visitor Visa and Permit » cite2†V3 Special Categories of Visitors » cite3†V3.120 Temporary Retirement Category L1: ##### - This is not current policy - ##### The policy in this manual ceases to be effective from 29 November 2010. To see the current Immigration New Zealand Operational Manual go to cite4†www.immigration.govt.nz/opsmanual L6: V3.120 Temporary Retirement Category 1. For an application to be approved under the Temporary Retirement Category the principal applicant must: 1. be aged 66 or over; and 2. nominate funds and/or ass … ets equivalent in value to at least NZ$0.75 million and undertake to invest them in New Zealand for a period of two years; and 3. demonstrate ownership of these funds and/or assets and that they have been legally earned or acquired; and 4. transfer and place the funds and/or assets in an acceptable investment in accordance with the policy in V3.120.30; and 5. nominate NZ$0.5 million of maintenance funds and demonstrate ownership of these funds and/or assets; and 6. demonstrate an annual income of at least NZ$60,000. 2. The principal applicant and any partner included in the application must: 1 … . meet health and character policy requirements (see cite5†A4 and cite6†A5 ); and 2. demonstrate that they hold acceptable travel and/or health insurance. 3. Applicants must not be accompanied by dependent children. V3.120.5 Age requirements Principal applicants under the Temporary Retirement Category must be aged 66 years or over at the time of application. V3.120.5.1 Evidence of age Evidence of age may include, but is not limited to, original or certified copies of: 1. a birth certificate; or 2. a passport or other travel document; or 3. an identity document (from countries which requi … ion of their stay. V3.120.25 Currency and conditions of a Temporary Retirement Category visa and permit 1. Notwithstanding cite8†V2.5 and cite9†V2.15 , a visitor’s permit granted under this policy will be valid for a maximum of two years. 2. Permit holders under this policy will be issued a multiple entry visitor’s visa, valid for the same period as the visitor’s permit, allowing re-entry to New Zealand on any number of occasions. 3. Permits granted under this policy will be subject to the condition that the applicant maintains acceptable travel and/or health insurance (V3.120.20) for th … table investment as set out at V3.120.10.25; and 2. acceptable travel and/or health insurance. Effective 29/03/2010 cite11†Top of Page …

Review method

Two separate automated exact-claim source reviews

Other New Zealand changes operative in 2010

• 2010-03-29Silver Fern Job Search and Practical Experience policy instructions
• 2010-08-02Employer work-entitlement verification: statutory information disclosure
• 2010-10-01China Working Holiday Scheme: qualification verification and English evidence tightened
• 2010-11-29Detention beyond six months: conditional renewal and release test
• 2010-11-29Employer work-entitlement checks: tax-declaration excuse replaced by due diligence
• 2010-11-29Ordinary detention warrants: up to 28 days with identity-related release restrictions
• 2010-11-29Security detention warrants: 28-day periods and conditional release
• 2010-11-29Visa framework replaces permits while retaining separate entry permission
• 2010-11-29Visa sponsorship: third-party cost recovery with protection for existing undertakings
• 2010-12-20Commencement of refugee/protection biometric collection and general biometric provisions