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Transfer money from UK to New Zealand

£223.85 Avg. Saving vs. Banks ?

Top 10 Money Transfer Providers

Exchange Rates as of 2017-01-20T15:59:59+00:00

World First

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Amount Received
$17,085.23
£234.20
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UKForex

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Amount Received
$17,072.31
£226.70
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Currencies Direct

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Amount Received
$17,080.92
£231.70
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Moneycorp

No fees for FXcompared users

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Amount Received
$17,055.08
£216.70
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TorFX

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Amount Received
$17,089.54
£236.70
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Western Union Business Solutions

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Amount Received
$16,968.95
£166.70
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Special offer

FC Exchange

No Fees for FXcompared users.

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Amount Received
$17,072.31
£226.70
saved vs. banks
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RationalFX

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Amount Received
$17,080.92
£231.70
saved vs. banks
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Smart Currency Exchange

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Amount Received
$17,080.92
£231.70
saved vs. banks
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Currency Solutions

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Amount Received
$17,087.82
£235.70
saved vs. banks
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Each provider goes through a full vetting and is regulated by the relevant authority (FCA in the UK, FinCEN in the USA, ASIC in Australia)

Frequently asked questions

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UK to New Zealand Resources

UK to New Zealand Summary

The UK is a popular destination for New Zealanders to come to work - there were an estimated 54,000 living in the UK in 2012 - usually for a short period of time. Numbers of migrants from New Zealand to the UK have fallen in recent years, from 18,000 in 2000 to 8,000 in 2011, but this is still one of the main sources of international money transfer from the UK to New Zealand.

Sending money from the UK to New Zealand does not have any restrictions. For those moving to New Zealand, there are only a small number of restrictions on what UK citizens can own in New Zealand, and these generally relate to sensitive land or business assets valued over NZ$100m. Residency rules for New Zealand are complex and should be carefully reviewed. New Zealand is only a minor source of imports into the UK, with values ranging between around £670m (NZ$1.4bn) and £820m in 2004-13.

New Zealand Visas and work permits

The current mayor of London, Boris Johnson, has proposed the idea that Australians and New Zealanders should be granted special status to live and work in the UK without restriction (and vice versa), modeled on the Trans-Tasman Travel Arrangement (TTTA) between Australia and New Zealand. Until this happens, visa restrictions still apply, although obtaining a UK work visa from New Zealand is easier than in most other place. For New Zealand citizens aged 18-30, a Youth Mobility Scheme visa allows them to pursue a working holiday in the UK for 2 years.

For a UK citizen moving to New Zealand, a valid paperwork needs to be obtained in advance of arrival. Work visas are not generally needed if you are taking up permanent residence but otherwise, each work permit is assessed on a case by case basis. Under the Immigration Act 1987, a UK citizen who wants to move to New Zealand needed to apply for residence, which will allow you to live, work, study as well as vote indefinitely in New Zealand.There are various additional requirements if you are considering apply for New Zealand residence. These include a health check to ensure additional pressure is not put on New Zealand’s health services if you enter the country, character references and English language skills. Immigration New Zealand has further details on the requirements.

UK and New Zealand Taxation

The double taxation agreement between the UK and New Zealand ensures that you pay tax on your income and gains once only, in whichever country you are based and earning that income. Money earned by New Zealand residents in the UK is subject to standard New Zealand tax rates independent of whether the money is transferred back home or not. New Zealand tax residents are generally taxed on their worldwide income.

UK citizens who move to New Zealand are subject to tax only to their income of their local New Zealand activities and will not be taxed if investment or interest income is sent from the the UK to New Zealand. Conversely, UK residents who earn passive income should check whether there are any withholding taxes if the money is sent back to the UK. UK individuals who are present in a 12 month period in New Zealand for over 183 days will become tax resident of New Zealand from the first day they were in New Zealand through that relevant 12 month period. There are some expatriate concessions on income earned in NnNew Zealand for UK residents and we advise specialist advice is taken regarding this. The tax year for New Zealand runs from 1 April to 31 March, virtually identical to the UK tax year of April 6 to April 5.

Buying property in New Zealand

New Zealand is a far less speculative property market than many other major countries as culturally, people in New Zealand typically own property to be their home as opposed to seeing it as a major investment opportunity.

There are no restrictions on permanent residents of New Zealand owning property. A UK citizen who is not a permanent New Zealand resident may face some restrictions though which are governed by the Overseas Investment Act 1973 (OIC Act). The OIC limits you to purchasing a property on less than 12.5 acres of land. Additionally, if the land happens to be in a sensitive area such as wildlife reserve, overseas purchasers can only buy a much smaller piece of land.

Purchases or flat, homes or land in mainstream urban locations by and large is not affected by the OIC restrictions. We advise you to consult with your property lawyer to check whether what you are considering buying falls under the OIC.

Healthcare in New Zealand

New Zealand has a Reciprocal Health Agreement with the UK. New Zealand health care is most similar to those of European countries such as France and Germany. In these countries, the state covers most of the cost of healthcare but the individual is expected to make some contribution towards the cost. Healthcare in New Zealand is not as comprehensive as the NHS.N

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The website and the information it provides on this site is for informational purposes only, and does not constitute an offer or solicitation to sell shares or securities. None of the information presented is intended to form the basis for any investment decision, and no specific recommendations are intended. Accordingly, this website and its contents do not constitute investment advice or counsel or solicitation for investment in any security. This website and its contents should not form the basis of, or be relied on in any connection with, any contract or commitment whatsoever. FX Compared Ltd expressly disclaims any and all responsibility for any direct or consequential loss or damage of any kind whatsoever arising directly or indirectly from: reliance on any information contained in the website, (ii) any error, omission or inaccuracy in any such information or (iii) any action resulting therefrom.