Looking to buy a family home in New Zealand? Updates to the Overseas Investment Act 2005 have changed the way overseas persons are able to purchase sensitive land (which now includes residential land) in New Zealand.
The definition of “overseas person” is very broad and covers many situations that may not be obvious to you. More than ever, it is important to speak to a team who have all the facts when you begin your home ownership journey.
Our expert residential team are here to walk you through the process. You can buy a home in New Zealand in these circumstances:
- You are a New Zealand, Singaporean or Australian citizen;
- Once you have a New Zealand residence class visa (either a Resident or Permanent Resident Visa), and you are ordinarily resident in New Zealand (which requires that you have been residing in New Zealand for at least the immediately preceding 12 months and are a tax resident of New Zealand);
- You are a Singaporean or Australian permanent resident and you are ordinarily resident in New Zealand; or
- If you are married to, or in an otherwise qualifying relationship with anyone who fits into the above categories, you may buy your home together.
What if none of the above applies to you? This is where we can answer the more particular questions of your individual circumstances.
The Act provides for certain exemptions where an application may be made to assist you into your home. On a New Zealand residence class visa, or with an Australian or Singaporean permanent residence visa, even where you are not ordinarily resident, in some circumstances you can still buy a home. Speak to us about the application process and how to make it as simple as possible.
No matter where you are in your residence journey, our Immigration Team are always on hand to provide advice and support around your visa process each step of the way.
If you are looking for help with Immigration or Property, enquire now for personalised advice to suit your needs.
For more information please contact our Wellington office on 04 472 0020 or email us at email@example.com.