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Overseas investor exemptions

Overseas investor exemptions

Old Jan 9th 2023, 5:22 am
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Default Overseas investor exemptions

Does anyone have experience of applying for exemption from the overseas investor restrictions in NZ? I’m a returning permanent resident but because I’ve just had18months in the UK now found out I can’t buy a house here in NZ for 12 months without exemption.
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Old Jan 10th 2023, 5:59 pm
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Default Re: Overseas investor exemptions

Originally Posted by Can82
Does anyone have experience of applying for exemption from the overseas investor restrictions in NZ? I’m a returning permanent resident but because I’ve just had18months in the UK now found out I can’t buy a house here in NZ for 12 months without exemption.
not done it, but have looked at it, seems common enough they built an online process to approve exemptions for a healthy fee….

https://oio.linz.govt.nz/one-home-to-live-submission
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Old Jan 11th 2023, 12:07 am
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Default Re: Overseas investor exemptions

Hi, I'm interested in this topic but have no experience of this situation. I have looked at the Immigration NZ website and note the following:
- If you are a NZ Citizen, then the restrictions do not apply. (You can buy immediately)
- If you hold a Residence Visa, then you would have to be ordinarily resident for 183 days and in NZ for 12 Months before purchasing.
- You could apply for an exemption

See this link for further info: https://www.live-work.immigration.go...ng-or-building

Fascinating question, thank you.
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Old Jan 11th 2023, 8:10 am
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Default Re: Overseas investor exemptions

Originally Posted by chc4me
Hi, I'm interested in this topic but have no experience of this situation. I have looked at the Immigration NZ website and note the following:
- If you are a NZ Citizen, then the restrictions do not apply. (You can buy immediately)
- If you hold a Residence Visa, then you would have to be ordinarily resident for 183 days and in NZ for 12 Months before purchasing.
- You could apply for an exemption

See this link for further info: https://www.live-work.immigration.go...ng-or-building

Fascinating question, thank you.
Would that apply to all permanent residence visa holders or just new visa holders.
As new residence visa holders we had to meet that criteria over a 2 year period?
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Old Jan 11th 2023, 3:16 pm
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Default Re: Overseas investor exemptions

Originally Posted by Justcol
Would that apply to all permanent residence visa holders or just new visa holders.
As new residence visa holders we had to meet that criteria over a 2 year period?
my read was all, so I have an IRRV (now Evisa). So my take is I would have to fly back and establish residence and be there in country for at least 183 days of that 12 months or get an exemption to buy…

It is of course possible to be resident in multiple places at the same time (depending on there individual rules) so the 183 days is the real bar to meet.

My guess would be showing proof you have a new NZ job etc and have already moved back would get you the exemption…

Last edited by tht; Jan 11th 2023 at 3:20 pm.
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Old Jan 11th 2023, 5:02 pm
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Default Re: Overseas investor exemptions

A quick glance suggests a fee of between $17 to $30 thousand dollars will buy you way around the problem. 🙄
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Old Jan 13th 2023, 4:38 am
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Default Re: Overseas investor exemptions

Originally Posted by Justcol
A quick glance suggests a fee of between $17 to $30 thousand dollars will buy you way around the problem. 🙄
The exemption fees are massive, so may as well just rent a place for first six to twelve months until the residence requirements are satisfied.

https://www.linz.govt.nz/guidance/ov...hedule#c-0-s-4
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Old Jan 13th 2023, 2:33 pm
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Default Re: Overseas investor exemptions

Originally Posted by Justcol
A quick glance suggests a fee of between $17 to $30 thousand dollars will buy you way around the problem. 🙄

So the Gov gets then revenue rather than an official finding a brown paper bag of cash….

while it may seem high I assume this is aimed at wealthy people buying multimillion $ properties so likely a small % of the cost…
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