Mike J

I have the option of buying my cousins small farm in NZ.
I have the funds to complete the purchase and provide me with a pension of appx $26k.
As Im already retired I am unsure if the NZ Authorities would allow me to complete the purchase or move there permanently?

Any advice would be most welcome.

Thank you.

Moses2013

Doesn't look like you'd be able:
Temporary Retirement Visitor Visa
If you have NZ $750,000 to invest in New Zealand for 2 years, another NZ $500,000 to live on, and an annual income of NZ $60,000, you can stay longer than allowed on a standard Visitor Visa. If we approve your application in principle, you’ll have 3 months to transfer your investment funds to New Zealand.
https://www.immigration.govt.nz/new-...t-visitor-visa

simonsi

You could complete the purchase, AFAIK there are no restrictions that would apply to you in that regard.

Visa is key to moving here, without that you will be limited to normal visitation periods. The current "retirement" visa looks to be a variation of the investment visa route with consequent minimums as above - however look to what the capital you have deployed to buy the farm (an investment), and generate the income, you may be able to move sufficient capital to satisfy both requirements.

Bo-Jangles

No idea what amount of investment you are considering but wonder why you would bother for $26k return - what would you get if you left the money in the bank or invested in something less risky closer to home?

escapedtonz

I'm not so sure it will be that easy ?
Restrictions and red tape introduced recently make it more difficult to purchase property or land in NZ whilst the individual / company is overseas. I think that came about to prevent or slow down lots of overseas Asian investments where they were cashing in on Auckland properties and flipping them for massive profits a week later.
You'll probably have to have an NZ bank account and an IRD number at least now and any income or gain will have to be declared and will be taxed in NZ. The process for getting those may be more difficult. You may have to be present in NZ in order to apply for an IRD number and you may have to have visited previously or have a higher visa status ?

Mike J

Thank you all for your helpful replies.

My relatives say I should 'just go for it' (well you all probably know how these kiwis react to a problem).

They know me well as Ive spent time with them in NZ, and them with me in the UK.
Ive previously lived in two (non English speaking) countries so I understand what is required to 'fit in', ie; prepared to accept your the foreigner and how things were done in the country you have left behind.

As for the property, my cousin will have the house surveyed and the land is being worked by another family member who's farm is just up the road.

What taxes I might have to pay on the house and/or land and machinery, the cost of moving my household effects (car?) are subjects to examine as this idea develops.

Any more advice, positive or negative, will be gratefully received.

Moses2013

All good but I thought you wanted to retire there? Buying is never really the issue, it's the VISA.
https://www.new-zealand-immigration....n-new-zealand/

Mike J

Thank you Moses2013
Yes I am retired in the UK and have no intention of seeking employment in NZ.
But I would obviously need to run the farm (ex UK farm manager) and have no intention of letting it go, that would be a crime and an insult to the country my distant relatives pioneered.
Obviously I would need some initial assistance but my family are nearby and my wife would be there but employing staff would be my long term option.

In your first reply you wrote 'we' does that mean you actually work for the NZ Government/Immigration Services?

.

Mike J

Thank you Moses2013
Yes I am retired in the UK and have no intention of seeking employment in NZ.
But I would obviously need to run the farm (ex UK farm manager) and have no intention of letting it go, that would be a crime and an insult to the country my distant relatives pioneered.
Obviously I would need some initial assistance but my family are nearby and my wife would be there but employing staff would be my long term option.

In your first reply you wrote 'we' does that mean you work for the NZ Government/Immigration Services?

Moses2013

I copied from the link below:

Unless you are actually originally from New Zealand, you have to meet the requirements to retire there?


Based on the information you gave ($26K), you wouldn't be able to retire in New Zealand with a British Passport.

MrsFychan

I believe the text was copied from the link he gave in the post. so the we comes from Immigration website and not Moses2013 himself

simonsi

Doesn't really matter. If you are on a visitor visa then IIRC you will be able to have a max of 18mths in a 3yr period if you spend the max 6mths in each of 3 visits on a visitor visa with a British passport.

After that Immigration will quite correctly ask what is going on and suggest you apply for the correct visa. There is no never-ending right of abode here without a visa, even if you own land/property, have relatives etc etc.

NZ has a real history of kicking out those overstaying or breaking visa conditions - once you have broken visa restrictions then that is a Big Black Mark for ever getting any visa.

BEVS

Afternoon Mike J .
A little late to this party as just back from my hols.

Lets get started.

Forget what your relatives might be suggesting to you as clearly they don't understand visa polices and why on earth should they.

Your very first step is to check out what visa you might be eligible for , if any.

Given your intention to buy and run a small farm , employing people, which visa were you considering would allow you to do this please?

escapedtonz

In my opinion there's two different issues going on here.


1. Purchase of NZ land/property by someone who is overseas.


2. The ability to meet the criteria of a visa that will allow you to run a business, live and work here.


I've already mentioned the implications of going ahead with the opportunity you have to purchase a cousins farm. You will obviously need to seek sound advice on this matter before going ahead with any proposal.
As already mentioned, owning land here, being a previous visitor, having relatives / friends here doesn't give you any right to be approved by Immigration to live in the country. Unless you meet the criteria for a visa that is fit for your intended purposes so you can remain within it's conditions, purchasing a farm or business or whatever is fraught with risk.


Now to the other matter - a visa.
I assume you are a UK citizen so in that respect your only easy option to come to NZ is to be a visitor on a visitor visa, BUT this type of visa does not allow a person to work. Doing so would be a serious breach of visa conditions.
Even though you say you have no intention of seeking employment in NZ, owning a farm and running it would surely be considered working.......you're working for yourself ? You definitely aren't a visitor and will have no intention of doing visitor things. You would be coming here to work in your newly acquired business to provide yourself a pension and profit from the purchase of the farm and may even employ staff eventually.
Even if you get around the work/running a business issues on this visa you have a limited time in which to stay. Maximum is 6 months from a visa waiver country like the UK. You could apply to extend this to 9 months but this is only at the discretion of Immigration who follow strict guidelines and I doubt you could justify staying any longer? You can only be here as a visitor for a maximum 9 months in any 18 month period.
So with all these issues I'd expect this is not the way to go about it.


You then have a number of other options :-


Investor 1 Resident Visa - If you have NZ $10 million to invest in New Zealand over a 3-year period, you can apply for New Zealand residence.


Investor 2 Resident Visa - Experienced business people who have a minimum of NZ $3 million in available funds or assets can apply for New Zealand residence but before you can apply, Immigration will need you to send an Expression of Interest telling them about your previous business experience, investment and settlement funds and your sound business plan.


Entrepreneur Work Visa - This visa is for people who want to work in their own business in New Zealand. To apply, you’ll need to provide a detailed business plan, have at least NZ $100,000 to invest in your business and be able to claim 120 points on our points scale. If you’re granted this visa, you can buy or set up a business without living here permanently, or as a first step towards New Zealand residence.


Temporary Retirement Visitor Visa (age dependent - minimum age 66 years) - If you have NZ $750,000 to invest in New Zealand for 2 years, another NZ $500,000 to live on, and an annual income of NZ $60,000, you can stay longer than allowed on a standard Visitor Visa. If Immigration approve your application in principle, you’ll have 3 months to transfer your investment funds to New Zealand.

Mike J

Many thanks to you all for all your advice and recommendations.

After much sole searching within the family and advice from the relevant authorities we have decided that the farm will be subdivided and sold as sections.

This subject is now closed.

Thank you and goodbye.