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How much land is a PR allowed to buy?

How much land is a PR allowed to buy?

Old Apr 26th 2006, 11:10 pm
  #1  
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Default How much land is a PR allowed to buy?

Hi
We are moving shortly to NZ and may buy some land to build on.
Does anyone know how much land (with or without a property on) that

A) a Non resdient is allowed to buy?

B) A person with permanent residence?

C) A NZ Citizen?


Thanks
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Old Apr 26th 2006, 11:40 pm
  #2  
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Default Re: How much land is a PR allowed to buy?

You can buy as much as you want.
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Old Apr 27th 2006, 12:01 am
  #3  
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Default Re: How much land is a PR allowed to buy?

Now you're asking, this does ring a bell though.

I think that it used to be 5 hectares for non residents, unless they get special consent. I think the legislation you may be looking for is called the Overseas Investment Act 2005.

Perhaps someone on here can say how it applies to someone in your situation.

Last edited by livewire; Apr 27th 2006 at 12:20 am.
 
Old Apr 27th 2006, 11:11 pm
  #4  
isv
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Default Re: How much land is a PR allowed to buy?

Originally Posted by Adventurer
Hi
We are moving shortly to NZ and may buy some land to build on.
Does anyone know how much land (with or without a property on) that

A) a Non resdient is allowed to buy?

B) A person with permanent residence?

C) A NZ Citizen?


Thanks
If non-resident then in general up to 5 hectares but plenty of exceptions to this rule.

You need to visit this page and read:

http://www.oio.linz.govt.nz/publications.htm

In particular read these:
http://www.oio.linz.govt.nz/pdf/oio-...ive-land-1.pdf
http://www.oio.linz.govt.nz/pdf/oio-...ive-land-2.pdf
http://rangi.knowledge-basket.co.nz/...sc/082sc1.html

If land is designated 'sensitive' then you will need permission from the OIO.

Alan.
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Old Apr 28th 2006, 8:11 am
  #5  
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Default Re: How much land is a PR allowed to buy?

Whatever land you buy do not under any circumstances even consider it if it is next to or part of Maori land--you will be buying into the biggest pile of grief you can imagine.
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