10 Mar 2010

New visa types aimed at foreign retirees

6:38 pm on 10 March 2010

The Government has unveiled two new types of visa aimed at making it easier for foreign retirees to live in New Zealand provided they have enough funds.

Immigration officials will give priority to foreign parents of children living in New Zealand, who can invest at least $1 million over four years.

A second visa will allow 65-year-olds to stay for two years if they invest $750,000 over that period.

Immigration Minister Jonathan Coleman says the changes will augment existing business visas, which help attract foreign capital.