New Zealand Overseas Investment Rules To Be Liberalised

Yes the title is correct, New Zealand, with one of the world’s most liberal and open regimes for overseas property investment may be planning on liberalizing still further.

New Zealand allows any overseas investor to buy most properties. Any existing or new build domestic property can be bought as an investor. Most investors will not have too much trouble getting local finance either, although with a significant deposit of 20% plus.

Overseas investors in New Zealand can also buy most urban commercial and retail properties. The limits have been on large rural properties and, in particular, off-shore islands. New Zealand has rather a lot of off-shore islands which and while some are active volcanoes (White Island) or wildlife sanctuaries (Auckland Islands) – many others, particularly in the warmer northern parts of the North Island make for rather attractive hideaways for the rich and famous.

Bay of Islands, Northland, New Zealand

Islands and large iconic properties of rural properties in New Zealand are classified as “sensitive”

The New Zealand Herald is reporting the Minister John English as saying:

“Current rules are complex and processing a sensitive land application involves the assessment of 27 criteria and factors. The process is too long and too uncertain,” Mr English said. He wants sensitive land re-defined “to ensure that only land of particular significance or importance to New Zealand is screened.”

That’s quite a contrast to the Australian approach to property investment – which even prevents intending immigrants from buying an existing home (they have to build a new house).
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