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Thread: Right to buy Residential land in New Zealand

  1. #1
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    Default Right to buy Residential land in New Zealand

    I have been living in New Zealand since February 2017 and recently obtained resident visa in July 2018. I am also a tax resident in New Zealand and now I am looking for a residential land to buy.

    I wonder if I am eligible to buy under the Overseas Investment Act 2005 and no need to obtain consent to buy one home to live in? I see a document requiring confirmation that "I have been residing in NZ for at least immediate preceding 12 months" but I am not sure how the term residing is defined. I also found another guideline simply stating that "have lieved in NZ for at least 183 days in the past 12 months"

    Has anyone been in similar situation, and anyone can answer about my case?

    Thank you!
    Sakitran

  2. #2
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    See here. https://www.linz.govt.nz/overseas-in...-one-home-live

    Also, for your quick answer (yes, from what you have said, you qualify ), click on the link to the two-page guide in the section headed Can you buy a home to live in?

  3. #3
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    Quote Originally Posted by JandM View Post
    See here. https://www.linz.govt.nz/overseas-in...-one-home-live

    Also, for your quick answer (yes, from what you have said, you qualify ), click on the link to the two-page guide in the section headed Can you buy a home to live in?

    Hi JandM,

    Thank you for your reply. I would like to clarify a bit more on the Residential land statement that I found in the link you shared.
    https://www.linz.govt.nz/file/19455/...token=xsdIvEd3

    1. Am I holding New Zealand residence class visa? Yes, since July 2018.

    2. Have I been residing in New Zealand for at least the immediately preceding 12 months? I don't feel very clear with this, although I have been living in New Zealand since Feb 2017.

    3. Am I a tax resident in New Zealand? Yes.

    4. Have I been present in New Zealand for 183 days or more in the immediately preceding 12 months? Yes.


    My concern is on criteria 2, i.e. how to understand "to reside in New Zealand for at least the immediately preceding 12 months", as a solicitor has answered me verbally that I need to hold resident visa for at least 12 months.

    The link for "Ordinary resident" https://www.linz.govt.nz/overseas-in...ive#flow-chart also defines that to be qualified as an Ordinary resident, one must have been a resident for at least 12 months but I am not sure if I need to meet this requirement.

    Appreciate your further advise, as I am interested in buying a house now instead of waiting until July this year when I have held resident visa for a year.

    Best regards,
    Sakitran

  4. #4
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    In ordinary English usage, "residing" is just another way of saying "living in/at". But there is a difference in INZ rules depending on whether you want to buy one home for you to live in, i.e. a pre-existing property, or residential land. You mention both in your original heading and post. If you intend to buy a home, you can have lived in NZ on any visa for 12 months. If you intend to buy residential land, you have to have spent 12 months on a resident visa.

  5. #5
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    Quote Originally Posted by JandM View Post
    In ordinary English usage, "residing" is just another way of saying "living in/at". But there is a difference in INZ rules depending on whether you want to buy one home for you to live in, i.e. a pre-existing property, or residential land. You mention both in your original heading and post. If you intend to buy a home, you can have lived in NZ on any visa for 12 months. If you intend to buy residential land, you have to have spent 12 months on a resident visa.
    Oh, that's a distinction I hadn't picked up on before. So in order to buy LAND for building a home, you need to have had a RESIDENCY visa for 12 months? But if we just want to buy a house, we would be eligible the same day we get our residence visa, as long as we have been living legally in NZ for at least 183 days of the past 12 months? Did I get that right?

  6. #6
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    Have a look at those links. I don't know about 'same day' - there's an issue of needing to get consent for some, as well as the different timings for different kinds of property. The links have further links to government pages. It looks as though a major thing is NOT to sign anything without making sure of having the right to do it, so if, when you've checked out your own situation, you're still not certain, ask a lawyer.

  7. #7
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    I'm not seeing a distinction between buying land and buying a house. The definition of "land" seems to include both bare land, and land with buildings on it. The distinction seems to be between residential property, and other types of property eg rural or industrial.
    Residential land is defined in section 6 of the Act and means land (including bare land) that has a property category of
    residential or lifestyle in the relevant district valuation roll. It includes a residential flat in a building owned by a flat-owning
    company.
    Buying residential or lifestyle land
    These laws apply to homes that are categorised as ‘residential’ or ‘lifestyle’ on the District Valuation Roll.

  8. #8
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    Quote Originally Posted by Oregonkiwi View Post
    I'm not seeing a distinction between buying land and buying a house. The definition of "land" seems to include both bare land, and land with buildings on it. The distinction seems to be between residential property, and other types of property eg rural or industrial.

  9. #9
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    Quote Originally Posted by JandM View Post
    See here. https://www.linz.govt.nz/overseas-in...-one-home-live

    Also, for your quick answer (yes, from what you have said, you qualify ), click on the link to the two-page guide in the section headed Can you buy a home to live in?
    Hi Jandm,

    Hope you are fine. I have a similar questions. I got resident visa in June 2019; however, I have had work visa since 2016. I left New Zealand in July 2018 and returned back in December 2018 since I was working overseas. I have spent at least 183 days of the past 12 months here. Can I consider myself been here for at least 12 months or not in this situation?

    Thank you.

  10. #10
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    I'm looking here https://www.linz.govt.nz/overseas-in...-one-home-live - these information pages have been updated since I referred to them earlier on this thread. In the section Can you buy a home to live in?, there's a link to an information sheet, and the following quote is from there.

    People who can only purchase with consent

    New Zealand resident class visa and Australian/Singaporean permanent resident visa holders must meet all of the criteria below to be able to purchase without consent:

    Hold New Zealand residence class visa or Australian/Singaporean permanent resident visa

    Be a tax resident

    Have resided in New Zealand for the immediately preceding 12 months and live (be present) 183 days out of those 12 months
    Comparing these three points to your own situation, not being a lawyer, I don't know what the answer is. None of the examples on the page exactly matches you. I suspect (but this is just me, an ordinary person, guessing from what is written, and nothing official) it may make a difference who you were working for when you were overseas, and if you kept a home in NZ during that time, and there's also the issue of tax residence to consider.

    There is a Contact Us link given on the page, and in your place, I would ask the question of the people there as your next step.

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