Overseas Investment Information

Overseas Investor Information

03 441 0790 colliersotago.co.nz

queenstown@colliers.com Otago Realty (NZ) Ltd, Licensed agent REAA 2008

Can you buy a home in New Zealand to live in?

Most overseas people are not able to buy homes in New Zealand to live in, but some can apply to the Overseas Investment Office for consent.

• You are a New Zealand, Australian or Singaporean citizen.

You don’t need consent if...

• You have a New Zealand, Australian or Singaporean Permanent Resident visa and live in New Zealand.* • You have a New Zealand Resident visa and live in New Zealand.* *You have lived in New Zealand for at least 183 days in the past 12 months.

You must apply for consent to buy one home to live in if...

You can’t buy one home to live in if...

• You have a New Zealand Permanent Resident or Resident visa and do not live in New Zealand.* • You have an Australian or Singaporean Permanent Resident visa and do not live in New Zealand.* *To get consent you'll need to live in New Zealand, and if you stop living here, you'll have to sell.

• You have a Temporary visa, such as a visitor, student, working holiday, or work visa (you don't have a Permanent Resident or Resident visa).

There are other ways you may be able to invest in property.

Check if you can buy Visit the Ministry of Business, Innovation & Employment website at https://www.newzealandnow.govt.nz/overseas

What Whattypes typesof ofhomes homesare areaffected? affected?

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Roll.You Youcan cancheck checkproperties propertieson on websites, websites,such suchas aswww.qv.co.nz, www.qv.co.nz,ororask askthe thelocal localcouncil. council.

Everyone Everyonemust mustmake makeaa‘Statement’ ‘Statement’ All Allbuyers buyersmust mustcomplete completeaaResidential ResidentialLand LandStatement Statementtotosay saywhether whetherthey theyare are eligible eligibletotobuy. buy.Your Yourconveyancer conveyancercan canhelp helpyou youdo dothis. this.

IfIfyou youmust mustapply applyororcannot cannotbuy, buy,ititisisespecially especiallyimportant importantthat thatyou youfirst firsttalk talktotoyour your conveyancer conveyancerbefore beforeyou yousign signthe thesale saleand andpurchase purchaseagreement. agreement.IfIfyou youneed needtotosign signitit urgently, urgently,you youcan canmake makethe theagreement agreementconditional conditionalon onthe theconsent consentofofthe theOverseas Overseas Investment InvestmentOffice.

Office.

IfIfyou youneed needconsent, consent,but butsign signan anunconditional unconditionalagreement agreementwithout withoutit,it,you youmay mayface face significant significantpenalties. penalties.IfIfyou youmake makeaafalse falsestatement, statement,you youcould couldbe befined finedup uptoto $300,000. $300,000.

Apply Applyfor forconsent consent To Toapply applytotothe theOverseas OverseasInvestment InvestmentOffice Officefor forconsent consenttotobuy buyone onehome hometotolive liveinin visit visitwww.linz.govt.nz/oio/live. www.linz.govt.nz/oio/live.

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These Theserules rulesare arecomplex, complex,and andyou youwill willneed needthe thehelp helpofofaaNew NewZealand Zealandproperty propertylawyer. lawyer.

Visit Visitthe theOverseas OverseasInvestment InvestmentOffice Officeatatwww.linz.govt.nz/oio www.linz.govt.nz/oiototolearn learnmore. more.

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CONSENT CONSENT REQUIRED REQUIRED

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Developing Developing residential residential land land

CONSENT CONSENT REQUIRED REQUIRED

CONSENT CONSENT REQUIRED REQUIRED

CONSENT CONSENT REQUIRED REQUIRED

CONSENT CONSENT REQUIRED REQUIRED

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CONSENT CONSENT REQUIRED REQUIRED

CONSENT CONSENT REQUIRED REQUIRED

CONSENT CONSENT REQUIRED* REQUIRED*

OK OK TOTO BUY BUY

OK OK TOTO BUY BUY

New New Zealanders Zealanders andand Residents Residents whowho livelive Australian Australian andand Residents Residents whowho livelive here; here; overseas; overseas; andand businesses businesses Singaporean: Singaporean: Citizens; Citizens; andand New New ZealandZealandthatthat are are more more than than 25%25% andand Permanent Permanent owned owned companies companies andand overseas-owned overseas-owned or or Residents Residents whowho livelive in in trusts trusts controlled controlled New New Zealand Zealand

Buying Buying one one home home to to live live in in

From From 22 October 22 October 2018 2018

INVESTING INVESTING ININ NEW NEW ZEALAND ZEALAND

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CONSENT CONSENT REQUIRED REQUIRED

CONSENT CONSENT REQUIRED REQUIRED

CONSENT CONSENT REQUIRED REQUIRED

CONSENT CONSENT REQUIRED REQUIRED

WON’T WON’T GETGET CONSENT CONSENT

Other Other overseas overseas people people