Immigration New Zealand (INZ) has introduced two important changes affecting international students and parents seeking New Zealand residence.
From 7 October 2026, Bank of New Zealand (BNZ) has joined the Funds Transfer Scheme (FTS). Eligible international students from India, China, Nepal, the Philippines, Sri Lanka and Vietnam studying at New Zealand universities and polytechnics can now choose between BNZ and ANZ under the scheme. Students at Private Training Establishments can continue using ANZ.
Parent Resident Visa Moves to Hybrid Selection
From 5 October 2026, INZ has introduced a new hybrid selection system for the Parent Resident Visa.
Under the new model:
- Around 90% of EOIs will be selected based on submission date.
- Around 10% will be selected through a random ballot.
- The annual approval limit remains 2,500 visas.
- The first hybrid selection round is scheduled for 10 November 2026.
A key additional change is that Parent Resident Visa EOIs will no longer automatically expire after two years, provided applicants confirm their interest within the required timeframe.
What This Means for Applicants
International students: Eligible students from India and the other participating countries now have an additional FTS banking option when studying at a university or polytechnic.
Parent Resident Visa applicants: The new system provides both queue-based and ballot-based selection, but applicants must still meet all eligibility requirements before residence can be granted.
Applicants should keep their contact details updated with INZ and carefully monitor their EOI status and any required confirmation.
Key Dates
- 7 October 2026 — BNZ joins the Funds Transfer Scheme
- 5 October 2026 — Parent Resident Visa hybrid selection begins
- 10 November 2026 — First hybrid EOI selection round
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