Moving to New Zealand, or back

IRD number, bank account and tax residency sorted, plus what follows you here from overseas.

Ends with: The three things you need before your first pay, and a clear tax residency position.

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4 calculators
1.6 hours of reading
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Arriving in a country means rebuilding your entire financial life in a place where none of your history counts. No credit record, no bank relationship, nobody who has heard of your last employer. The first few weeks are mostly paperwork, and the order you do it in matters because some of it blocks the rest.

That is why the first three steps are what they are. An IRD number, because without one your employer must tax you at the no-declaration rate of 45 per cent and you claim the difference back later. A bank account, because nobody can pay you properly without one and some banks will let you start the application before you land. Then tax residency, which is the step new arrivals most reliably get wrong.

Tax residency is not the same thing as your visa. It depends on how many days you are here and whether you have a permanent place of abode, and once you are a New Zealand tax resident this country taxes your worldwide income. That includes the flat you kept in another city, the shares you left with a broker overseas, and the pension you stopped contributing to. Assets left behind do not stay invisible, and the foreign investment fund rules can tax a deemed return whether or not you sold anything or made a gain.

The last four steps are branches rather than required reading. There is one for arriving from Australia, where superannuation has trans-Tasman arrangements unlike anything else. One for the United Kingdom and what can be done with a pension there. One for anyone on a working holiday, including the refund a great many people leave behind when they fly home. And one for returning New Zealanders, who have their own checklist and often assume wrongly that coming back is simpler than arriving.

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  1. The first week

    What to sort before anything else, in the order that unblocks the rest. Most of it can be started before you land.

    8 min read

  2. Get an IRD number

    Without one you are taxed at the no-declaration rate of 45 per cent. Apply as soon as you have the documents; it is not instant.

    7 min read

  3. Open a bank account

    Some banks let you start the application from overseas. Nobody can pay you properly until this exists.

    7 min read

  4. Work out your tax residency

    Not the same thing as your visa. New Zealand taxes residents on worldwide income, and the day counts and permanent place of abode test decide when that starts.

    10 min read

  5. KiwiSaver as a new arrival

    You can join once you are here and entitled to be, and your employer contributes. The government contribution has its own residency requirement.

    Work out your own: KiwiSaver Calculator 8 min read

  6. Moving your money here

    The exchange rate margin costs more than the fee on most transfers, and the bank is rarely the cheapest option for a large sum.

    Work out your own: Currency Converter 8 min read

  7. Cards and everyday costs

    Foreign transaction fees and dynamic currency conversion quietly take a percentage of everything while you are still using an overseas card.

    7 min read

  8. Investments you left behind

    Overseas shareholdings above the threshold fall under the foreign investment fund rules, which tax a deemed return whether or not you sold anything.

    Work out your own: FIF Calculator, Fair Dividend Rate Method 10 min read

  9. Coming from Australia

    Superannuation can sometimes transfer to KiwiSaver, and the trans-Tasman arrangements are unlike anything else. Read this one only if it applies.

    8 min read

  10. Coming from the United Kingdom

    A UK pension can sometimes move to a recognised New Zealand scheme, with tax consequences on both sides worth understanding before you start.

    9 min read

  11. On a working holiday

    Different tax treatment, and a tax refund at the end that a great many people leave behind when they go home.

    Work out your own: Working Holiday Tax Calculator 7 min read

  12. Coming home

    Returning residents have their own set: the transitional residency exemption, dormant KiwiSaver, and student loan interest that starts again.

    9 min read

When to stop and get someone else

Tax residency is the step where paid advice most often pays for itself, particularly if you have property, a pension or investments in another country and a double tax agreement is involved. Inland Revenue also answers residency questions directly. Getting it wrong is expensive and takes years to surface.

This pathway is information, not financial advice. Rates, thresholds and rules change; every guide carries the date it was last reviewed.

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Frequently asked questions

What do I need to sort first when I move to New Zealand?

An IRD number and a bank account, in that order, because without an IRD number you are taxed at the no-declaration rate of 45 per cent and without an account nobody can pay you. Both take days rather than hours, and some banks let you start the application before you arrive.

Is tax residency the same as my visa status?

No, and conflating them is the most common mistake new arrivals make. Tax residency depends on day counts and on whether you have a permanent place of abode here, not on what visa you hold. Once you are a tax resident, New Zealand taxes your worldwide income.

Do I have to pay New Zealand tax on investments I left overseas?

Usually yes, once you are a tax resident and past any transitional exemption. The foreign investment fund rules apply above the threshold and tax a deemed return rather than what you actually received, which surprises people whose overseas holdings fell in value that year.

Can I transfer my overseas pension to New Zealand?

Sometimes. Australian superannuation has trans-Tasman arrangements that allow transfer to KiwiSaver, and UK pensions can move to a recognised scheme in some circumstances. Both have tax consequences on both sides and are worth advice before starting rather than after.

What do returning New Zealanders need to check?

The transitional resident exemption if you have been away long enough, any dormant KiwiSaver account, and student loan interest which starts applying differently once you are back. Coming home has its own checklist and it is not the same as arriving for the first time.