People that are not New Zealand citizens or residence class visa holders or
Australian or Singaporean citizens and permanent residents will only be able to
purchase residential land following screening by the OIO.
The Bill allows Permanent Resident and Resident Visa holders that are not “ordinarily
resident” (such as those who have not resided in New Zealand for at least 12 months)
but are committed to reside in New Zealand to apply for consent to buy a home to live
in. People that can demonstrate that they have a commitment to reside in New
Zealand will be able to purchase one home for use as their principal place of residence
in New Zealand, which they will be required to sell if they leave New Zealand and sever
their commitment to reside in New Zealand.