Parent category is back in 2020 with 106k+ salary requirement
Applications for the Parent Resident Visa will open again from February 2020 with new criteria that applicants and sponsors must meet.
How the visa is changing
The visa with its current criteria is closed from 7 October 2019. It will reopen in February 2020 with new criteria.
INZ are not accepting expressions of interest (EOIs) until the visa reopens. INZ will start selecting EOIs in May 2020.
The changes INZ are making to the visa include:
- limiting the number of people who can get the visa each year to 1000
- standardising the expression of interest process and removing the 2-tier system
- introducing new financial requirements for sponsors, which are updated every year based on the New Zealand median income
- asking sponsors to provide evidence of their annual income through Inland Revenue tax statements, and show they have met the income requirement for 2 out of the 3 years before the visa application is lodged
- removing the option to meet financial eligibility criteria through a parent’s guaranteed lifetime income or settlement funds.
New financial requirements
The new financial requirements for the Parent Resident Visa can only be met through the income of the sponsor and their partner.
Here is a comparison of the previous and the new financial requirements, based on a median salary of NZD $53,040:
|Sponsor||Previous||New (expected income thresholds)|
|1 sponsor for 1 parent (sponsor’s income)||NZD $65,000||NZD $106,080||2 times the median salary|
|1 sponsor for 2 parents (sponsor’s income)||NZD $65,000||NZD $159,120||3 times the median salary|
|Sponsor and partner for 1 parent (joint income)||NZD $90,000||NZD $159,120||3 times the median salary|
|Sponsor and partner for 2 parents (joint income)||NZD $90,000||NZD $212,160||4 times the median salary|
|Guaranteed lifetime income of 1 applicant or of a couple||NZD $28,166 или|
|Not available in new parent category|
|Settlement funds||NZD $500,000||Not available in new parent category|
If you have already submitted an expression of interest (EOI)
ome people who have already submitted an EOI will not meet the new eligibility criteria. If you have a current EOI with us, INZ will email you and invite you to either update your EOI or withdraw it. People who withdraw their EOIs will be eligible for a fee refund.
When INZ begin selecting EOIs in May 2020, they will select them based on the date INZ originally received them, regardless of whether they were submitted under Tier 1 or Tier 2.
More information about the visa changes, including how to withdraw an EOI and get a refund, is available on INZ website.