Registering a retirement village
A village can only make an offer of occupation to residents if it's registered on the Retirement Villages Register. To stay registered, village operators must file an annual return. Application and filing fees apply.
Retirement Villages Register
The Act places responsibilities on all retirement village operators and are detailed under the Financial Markets Supervisors Act 2011.
The requirements mean that every retirement village operator must:
- register each village with the Registrar of Retirement Villages. To register operators must lodge the following documents with the Registrar of Retirement Villages:
- application form
- disclosure statement
- title documents
- deed of supervision
- an occupation right agreement
- any other relevant documents.
- provide the Registrar of Retirement Villages with annual returns, including audited financial statements
- appoint a statutory supervisor (unless exempted from doing so)
- comply with the Code of Residents' Rights
- provide a complaints facility and dispute resolution process for residents
- comply with a Code of Practice for Retirement Villages when it is in force.
How to register a retirement village
To register a retirement village you must:
- file an application with the Retirement Villages Register
- provide your supporting documents, and
- pay a registration fee.
When you file the application you must pay a:
- registration fee
- Land Information New Zealand (LINZ) registration and lodgement fee, and
- Memorial Notice fee.
The fees to be paid depend on the number of residential units in the retirement village being registered.
Visit the Companies Office website to calculate what fees will apply.
Maintaining a registration
To remain registered on the Retirement Villages Register, operators must file an annual return.
A filing month is provided to operators at the time the retirement village is registered. An annual return filing fee applies.
Published: May 18, 2020