From September this year parents will be able to access a multi-entry five-year visa, provided they meet specific requirements.
Applicants will also be able to renew it once, meaning the maximum length of a visit can be up to 10 years.
Immigration minister Erica Stanford said today a longer-term visa was an important consideration for migrants when deciding where they want to build their lives.
"The Parent Boost Visa strikes the balance of making New Zealand more attractive for people who want to make our beautiful country their home, without putting additional strain on public services," she said.
To be eligible for a Parent Boost visa, applicants must:
• Have an eligible sponsor who is a New Zealand citizen or resident;
• Meet acceptable standard of health requirements;
• Have at least one year of health insurance cover which provides emergency medical cover, and maintain this insurance for their entire stay in New Zealand;
• Meet character requirements and be a bona fide visitor;
• Complete a new medical assessment after three years.
They must also meet income requirements, either through their sponsor or through their own ongoing income, as well as having cash of up to $250,000 for a couple or $160,000 for a single parent.
"The Parent Boost Visa strikes the balance of making New Zealand more attractive for people who want to make our beautiful country their home, without putting additional strain on public services," Stanford said.
"We are committed to delivering an efficient and predictable immigration system that drives economic growth to take New Zealand forward."
ACT's immigration spokesperson Parmjeet Parmar said she was proud to see the commitment fulfilled.
"Ultimately, this visa makes New Zealand a more attractive destination for the talent we need to drive economic growth. A skilled workforce means more productivity, stronger communities, and more prosperity for all New Zealanders."
ACT's own proposal for the visa would have introduced an annual fee to fund healthcare costs. The government policy requires comprehensive health insurance instead.
In October 2022, then Immigration Minister Michael Wood announced the new parent visa to help clear a backlog of more than 8500 parents waiting to permanently join their adult children in New Zealand.
About 12,000 parents were waiting in June last year, but only 500 had been picked to apply in the year before that.
In February, Immigration New Zealand announced a one-time increase in the parent visa quota, which had an annual cap of 2500, with 2000 visas allocated to queue-based applications and 500 to ballot-based applicants.
But Stanford authorised an extra 331 queue-based visas to combat the backlog which had caused lengthy delays for families.
Some parents had reportedly died while waiting.
The new Parent Boost applications open on September 29.
