Buying house on visitors visa
 

Hi Some friends of ours are wanting to come to NZ on a visitors visa and get fixed up with work once they are here to get residency are they able to ship there belongings over and buy a house on a visitors visa ?
thanks Linda :):confused:

Re: Buying house on visitors visa
 

You can buy a house/land in NZ without any visa at all. And you can ship your stuff over as well on a visitor's visa.

It's a bit brave, but perfectly legal.

Re: Buying house on visitors visa
 

The only downside to shipping whilst on a visitors visa is you have to pay GST on anything non clothing in your container. Better to get work permit first as we are then ship.

Re: Buying house on visitors visa
 

You will struggle to get a mortgage without residency. But as has been mentioned, if you got the dosh, nothing stopping you buying a house.

Re: Buying house on visitors visa
 

I don't know. I was offered a mortgage on a property in Auckland when I was living in Japan and had never been to NZ.

Depends on the bank and personal circumstances, I would think, not on the law.

Re: Buying house on visitors visa
 

I don't suppose you know of a way to borrow in Japan and spend in NZ by any chance??

0.25% interest rate borrowing would sure be useful for that big purchase here in NZ even if the Japanese are livid about the rise from 0%.......:blink:

Re: Buying house on visitors visa
 

You can get a 1.5% mortgage in Japanese Yen for a property in NZ but what makes it a potentially terrifying loan is the fact that it will be tied to the exchange rates.

I think the Bank of Australia does one.

Also the 0.25% rates are for interest on savings...I think you'll find that bank loans are pretty steep.

That's why Kiwis blame the semi-mythical 'Japanese housewive investors' for the recent run on their currency, as the only real way to invest money in Japan is via shares and the like.