Skip to main content

Moving to New Zealand — Financial Guide for Migrants

Updated

New Zealand takes in tens of thousands of migrants and working holiday visitors every year. Whether you’re arriving on a skilled migrant visa, a working holiday, a student visa, or returning after years abroad — the NZ financial system has its own rules, institutions, and quirks that differ significantly from what you may be used to.

This cluster covers everything from opening a bank account before you land to what happens to your KiwiSaver if you leave.

Start Here

Guide Who It’s For
NZ Financial Checklist for Migrants Everyone arriving in NZ for the first time
Open a Bank Account Before You Arrive Anyone wanting a NZ account set up on arrival
Sending Money Home from NZ Migrants supporting family overseas

By Visa Type

Guide Visa / Situation
Working Holiday NZ — Finance Guide Working holiday visa holders
Skilled Migrant NZ — Finance Guide Skilled and accredited employer visas
Student Visa NZ — Living and Finance Guide International students

Australia ↔ New Zealand

Guide Topic
Transfer Australian Super to NZ KiwiSaver Trans-Tasman super portability
NZ vs Australia — Financial Comparison Which country is better for your finances?

Leaving NZ

Guide Topic
Leaving NZ — Financial Checklist KiwiSaver, tax residency, bank accounts and more

NZ Financial System at a Glance

IRD number: Your tax identity number. Get one immediately — you can’t earn legally, open most bank accounts, or join KiwiSaver without it.

KiwiSaver: NZ’s workplace retirement savings scheme. Employer contributions of 3% are effectively free money — most migrants should join.

ACC: The Accident Compensation Corporation covers injury-related medical costs and lost income for everyone in NZ (including temporary visa holders). You contribute automatically via a levy on your earnings.

Banks: The main banks are ANZ, ASB, BNZ, Westpac, and Kiwibank. Several offer pre-arrival account opening for migrants.

Tax: NZ uses a PAYE (pay-as-you-earn) system. Your employer deducts income tax before you receive your pay. There is no capital gains tax, but foreign investment income has specific rules.