# What do we need to know to retire in NZ?



## nzbound2

Hello,
I just signed up to this forum, so I'm new at this. 
Anyway my wife and I are planning to move to NZ in a couple of years in order to retire. We both have wanted to relocate to NZ since we went there in 2007 on hoiliday. My wife and her mother had been there many times before, however the trip in 2007 was my first trip to NZ and I was immediately hooked. We love the people, the food, the fishing, the gorgeous blue ocean water, the beaches, Heck,..the entire stunning county. We have already made some freinds there. 

I am a Electical and Solar Power Contractor. I plan to begin my retirement from construction (at least in the USA) approximately September of next year (2011). We plan to open a NZ bank account, buy a home and a new vehicle to keep in NZ even before moving there full time. 
However my wife does not want to move there full time as long as her mother is alive (her mother is 86 yrs old). So we will be spending the next several months getting things in order. Then we will spend as much time as we can traveling to and from NZ until we can relocate there permanently. 

Our main concern is what are the requirements in terms of retiring in NZ: 
1. minimum retirement income needed if your not going to look for work.
2. is there a minimum dollar amount needed to have in your bank account to 
retire in NZ. 
3. is there a minimum/maximum age limit in order to acquire a permanent
residency/citizenship.
4. are there any other things we should know? 

I do plan on looking into some health care, any advise on that? 
Any help would be appriciated.
Thank you, Ken B.


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## topcat83

nzbound2 said:


> Hello,
> I just signed up to this forum, so I'm new at this.
> Anyway my wife and I are planning to move to NZ in a couple of years in order to retire. We both have wanted to relocate to NZ since we went there in 2007 on hoiliday. My wife and her mother had been there many times before, however the trip in 2007 was my first trip to NZ and I was immediately hooked. We love the people, the food, the fishing, the gorgeous blue ocean water, the beaches, Heck,..the entire stunning county. We have already made some freinds there.
> 
> I am a Electical and Solar Power Contractor. I plan to begin my retirement from construction (at least in the USA) approximately September of next year (2011). We plan to open a NZ bank account, buy a home and a new vehicle to keep in NZ even before moving there full time.
> However my wife does not want to move there full time as long as her mother is alive (her mother is 86 yrs old). So we will be spending the next several months getting things in order. Then we will spend as much time as we can traveling to and from NZ until we can relocate there permanently.
> 
> Our main concern is what are the requirements in terms of retiring in NZ:
> 1. minimum retirement income needed if your not going to look for work.
> 2. is there a minimum dollar amount needed to have in your bank account to
> retire in NZ.
> 3. is there a minimum/maximum age limit in order to acquire a permanent
> residency/citizenship.
> 4. are there any other things we should know?
> 
> I do plan on looking into some health care, any advise on that?
> Any help would be appriciated.
> Thank you, Ken B.


Hi Ken - and :welcome: to the Forum.

Pardon me for asking, but how old are you and your partner? I ask, because I think your main concern should be whether you can get a suitable visa that will enable you to live here. 

It is possible to get a 'Temporary Retirement Visa' - but may prove to be very expensive, as you will have to demonstrate that you have $750k in funds, then IN ADDITION an income of $60k. Even then, it will still be a temporary visa. See V3.120 Temporary Retirement Category

Or look at the 'Business and Investors' categories. Investing in New Zealand . 

The absolute limit for applying for a Residents Visa is 55 years for the principle applicant. This is the past my husband and I took 5 years ago. I was the principle applicant at 46, and he was 56. It means you need to get enough points, which without a job or recent work experience will be very difficult. Means the retirement might be on hold for a while as well 

Other than that, you can persuade your kids to emigrate first, then go for a 'parent requirement category' Returning Residents Visa (F8 Parent Retirement Category) - but the cash amount required is still as stringent.

These rules may seem harsh, but NZ is making sure that any new applicant can bring value to the country, and doesn't end up an expensive burden. And as you can imagine, older people are a greater risk, as they don't work, and are more likely to fall ill.


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## nzbound2

Hello Top Cat,
To answer your question reguarding our age, I am 52 and my wife is 46. 

Our plan is to start with about $100'000.00 USD in the bank account, however by the time we are ready to move there full time (2 or 3 years) we should have $1'000'000.00 or $2'000'000.00 in the account (this would be in addition to buying property and a car to leave there). We're expecting our income will vary from approx. $250'000.00 to $1'800'000.00 per year. Sounds like the money wont be the problem, just getting the right visa/residency in time.

Any thing else I need to plan for?

Thanks, Ken B.


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## topcat83

nzbound2 said:


> Hello Top Cat,
> To answer your question reguarding our age, I am 52 and my wife is 46.
> 
> Our plan is to start with about $100'000.00 USD in the bank account, however by the time we are ready to move there full time (2 or 3 years) we should have $1'000'000.00 or $2'000'000.00 in the account (this would be in addition to buying property and a car to leave there). We're expecting our income will vary from approx. $250'000.00 to $1'800'000.00 per year. Sounds like the money wont be the problem, just getting the right visa/residency in time.
> 
> Any thing else I need to plan for?
> 
> Thanks, Ken B.


If you can get enough points to get a Permanent Residents Visa now, I'd seriously go for that one - _now_! While you can still get it. Then you'd know it was permanent if you want to stay, and you'd be entitled to all the NZ social welfare benefits such as health care.

You're similar ages to those that my husband and I were four years ago. He's unfortunately had to use the health service a couple of times (it's very good for non-private in my opinion), and will be eligible for a NZ pension when he's 65 in 5 years time. Meanwhile, at the ages of 50 and 60 we're just going for a lifestyle change/semi-retirement, and looking at moving to a reasonably touristy area to run some accommodation of some kind.


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## nzbound2

Top Cat, 
Thank you for the info. I think your right about applying now. Thats what we'll do. 
We also are going for the lifestyle change, however we'll be looking for a place with acreage thats close to the ocean so I can go fishing (I fish a lot). My wife has also expressed interest in possibly running a bed-n-breakfast or home stay type rental to people on holiday, but we'll see how she feels when we retire over there. I'm not looking to buy a JOB! I'm trying to get away from that.

Anyway thanks again for the info,
Ken & Nora B.


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## topcat83

nzbound2 said:


> Top Cat,
> Thank you for the info. I think your right about applying now. Thats what we'll do.
> We also are going for the lifestyle change, however we'll be looking for a place with acreage thats close to the ocean so I can go fishing (I fish a lot). My wife has also expressed interest in possibly running a bed-n-breakfast or home stay type rental to people on holiday, but we'll see how she feels when we retire over there. I'm not looking to buy a JOB! I'm trying to get away from that.
> 
> Anyway thanks again for the info,
> Ken & Nora B.


Sounds like we have similar ideas. If you're looking to do the same thing, I can tell you the areas we're looking at. All are tourist areas, but not as busy as the main tourist centres of Rotorua, Taupo and Qheenstown:

1. Far North - Maunganui - lovely little fishing port
2. Far North - Bay of Islands - Russell is wonderful, but expensive
3. Waikato - Coromandel - a reasonable travelling distance (2-3 hours) to Auckland for those major amenities that we need as we get older 
4. Bay of Plenty - Whakatane - an up-and-coming area
5. Gisborne - one of our favourite cities, but a bit away from it all
6. Hawkes Bay - Napier, Hastings & Havelock North - don't like Napier beach, but the ones to the west of it are fab!
7. Nelson - Motueka & Golden Bay - the most sunshine in NZ. Golden Bay is fab, but with the Abel Tasman National Park between it and Nelson, this adds at least an hour onto any journey.
8. Lake Tekapo - if it were me, I'd be very tempted by here - but Hubby says it will be too cold in the winter for him. There are 2 tourist seasons - Summer (hot, hot, hot!) and Winter (skiing!!). Very picturesque.

We decided that anything further south would be too cold and too changeable weather-wise for us.

Work out your points on the EOI points calculator at Expression of Interest


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## Happy girl

Hello - I to am ready to EXPAT from America .. I am 62 and looking to retire deck handing on a BIG boat - someplace a "differently abled" woman of 62 can apply herself fishing, learning to scuba, meeting and greeting others and generally living our my secure amount of dollars monies in and EXPAT country ................ Deb


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## escapedtonz

Happy girl said:


> Hello - I to am ready to EXPAT from America .. I am 62 and looking to retire deck handing on a BIG boat - someplace a "differently abled" woman of 62 can apply herself fishing, learning to scuba, meeting and greeting others and generally living our my secure amount of dollars monies in and EXPAT country ................ Deb


Have a look at www.immigration.govt.nz
All the info you need is there on the website but may take some research as there's a lot of it.
Sorry to say but you're age will be against you as I think the maximum for entry here is 55 so you will probably have to use another stream which may mean you have to buy yourself in ?

Good luck


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