RE: Overseas buyers & buying a property in NZ
Who can apply for consent to buy a property?
Since 2018, foreign buyers have been prevented from buying residential property in New Zealand. There is an exception for people who have made a commitment to living in New Zealand and hold a residence class visa.
To be considered ‘Ordinarily Resident’ a buyer must meet the following criteria:
- Hold a residence class visa, and
- Have lived in New Zealand for at least 12 months, and
- Been physically present in New Zealand for at least 183 days of the last 12 months, and
- Be a tax resident in New Zealand.
These requirements are strictly enforced and people who want to buy a home but are not New Zealand citizens need to understand the rules and be sure to follow them.
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