Immigration New Zealand (INZ) will start accepting applications for Parent Resident Visas again in February 2020 – there are new criteria for sponsors and applicants. The visa with the current rules was closed on October 7, 2019.

INZ will not accept EOIs (Expressions of Interest) until the visa reopens – the selection of EOIs will begin in May 2020.

What are the new changes in the Parent Resident Visa?

The changes being made to the Parent Resident Visa include:

• a yearly limit of 1000 for the number of visas
• standardisation of the EOI process and removal of the 2-tier system
• introduction of new financial criteria for sponsors, updated yearly based on median New Zealand income
• sponsors will now need to furnish proof of their yearly income using tax statements from Inland Revenue to prove they have satisfied the income criteria for 2 out of 3 years before application submission
• removal of the option to satisfy financial eligibility requirements using the parent’s guaranteed lifetime income or settlement funds.

What are the new financial requirements for Parent Resident Visa?

The income of the sponsor and their partner only will be considered for meeting the new financial requirements of the Parent Resident Visa:

Here is how the previous and the new financial obligations compare, based on a median New Zealand salary of NZ$ 53,040:

If you have a current EOI with INZ and do not meet the new eligibility criteria, they will email you and invite you to either update your EOI or withdraw it. You will be eligible for a refund if you withdraw your EOI.

When INZ started EOI selection in May 2020, they will use the date the application was submitted, irrespective of whether it was under Tier-1 or Tier-2.

More information on the changes to the visa, including instructions on how to withdraw your EOI and receive a refund, is available on INZ’s website.

Professional Visa Solutions has taken note of the modifications and is ready to help you with the new changes in Parent Resident Visa applications.