| Provider | Amount Received | Fee | Exchange Rate | Speed | ||
|---|---|---|---|---|---|---|
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OFX (US) | NZD $15,835.73 | No Fee | 1.5836 | 1-3 days | more... |
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Venstar | NZD $15,843.72 | No Fee | 1.5844 | 1-3 days | more... |
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Average US Bank | NZD $15,441.04 | No Fee | 1.5441 | 1-5 days | more... |
OFX provides secure and speedy international money transfers to over 300,000 people in 55 currencies at better-than-bank rates.
Average of the top US Banks costs as compiled by our own FXC Intelligence group
New Zealand and the United States are partners in a number of trade agreements and negotiations that seek to enhance trade and investment opportunities between the countries. Two of the highest-profile initiatives are the US - New Zealand Trade and Investment Framework Agreement (TIFA) and the Trans-Pacific Partnership (TPP), which seeks to expand job creation and create economic growth throughout the Asia Pacific region and in the US. Currently, there is no limit for American citizens who wish to trade USD to NZD and transfer money from USA to New Zealand.
American citizens planning to visit New Zealand for less than three months do not need a visa to do so. For American citizens who plan to work in New Zealand either temporarily or permanently, a work visa is required. There are several types of work visas, including the Skilled Migrant visa and the Residence from Work visa. Both of these visas allow the holder to live and work in New Zealand for a set period of time.
US citizens who wish to apply for permanent residency must apply for New Zealands Citizenship by grant program. They must also meet specific requirements to qualify, including planning to stay in New Zealand if granted citizenship. They must also prove that they have lived in New Zealand for at least five years with residence status before applying for permanent residency. For more specific information on visa and residency requirements, please refer to the New Zealand embassy website.
For both residents and non-residents, purchasing real estate in New Zealand is straightforward and can often be accomplished in a matter of weeks. However, there are a few important things to take note of when entering the New Zealand real estate market.
It’s often easiest to find properties and navigate real estate laws by working with a real estate agent. It’s important to choose an agent who is registered with the Real Estate Agents Licensing Board. This helps to ensure that they are reputable and licensed. An agent will provide a list of properties and will help the buyer to identify an acceptable offer. In New Zealand, the agents receive their commission from the seller of the property, not the buyer.
Once a property is agreed upon, the real estate agent will provide the buyer with a standard sales contract to sign. The buyer must also submit their offer formally in writing. This formal offer is conditional and is often based upon standard agreements, such as an independent property evaluation or the approval of financing for the purchase. Once all legal steps have been taken, the buyer can then arrange to transfer money from USA to New Zealand to fund their real estate purchase.
American citizens who wish to study full-time in New Zealand for less than three months do not need a student visa. For study programs that last longer than three months, however, a student visa is required. There are currently no restrictions for American students who wish to send money to New Zealand to help fund their education.
American residents living abroad must declare their earnings and file tax forms annually. They may owe the US government taxes on their worldwide earned income. Currently, the US and New Zealand have a tax treaty agreement in place, meaning US citizens can receive credit via a foreign income tax offset for any taxes paid in New Zealand. For US citizens who wish to transfer money from USA to New Zealand to pay for taxes, there are no restrictions on international funds transfer at this time.
American citizens who are temporarily traveling in New Zealand are strongly recommended to take out a travel insurance policy or acquire a short-term health policy.
Although New Zealand has a state-run, publicly-funded healthcare system, it is only available to citizens and permanent residents of the country. Permanent residents are defined as an individual owning a Returning Resident’s visa, or an individual holding a current Residence permit who has lived in the country for at least two years. Private health insurance is recommended for those who do not meet these requirements, as well as a supplement for those who are eligible for the state-run system.
US citizens living in New Zealand are eligible to vote by absentee ballot in American presidential, general, and primary elections. They must register for absentee balloting with the last state precinct in which they voted, and will then receive absentee ballot by email from their precinct.
The United States and New Zealand currently maintain a partnership in two major trade initiatives: The Trans-Pacific Partnership (TPP), which seeks to expand job creation and create economic growth throughout the Asia Pacific region and in the US, and the US - New Zealand Trade and Investment Framework Agreement (TIFA), which seeks to strengthen strategic trade and investment partnerships between them. In 2012, two-way US dollar to New Zealand dollar trade of goods and services between the two countries totaled $10 billion. US goods imports into New Zealand totaled $3.2 billion in 2013, led by aircraft, machinery, vehicles, and electrical machinery. Foreign direct investment and money transfers from the US into New Zealand totaled $9.5 billion in 2012, a 19.4% increase from the previous year.
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FXcompared.com is an fx money comparison site for international money transfer and to compare rates from currency brokers for sending money abroad. The website and the information provided is for informational purposes only and does not constitute an offer, solicitation or advice on any financial service or transaction. None of the information presented is intended to form the basis for any investment decision, and no specific recommendations are intended. FXC Group Ltd and FX Compared Ltd does not provide any guarantees of any data from third parties listed on this website. 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 (i) any error, omission or inaccuracy in any such information or (ii) any action resulting therefrom.
