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Are there any laws prohibiting owning peroperty in Newzealand by either India or Newxealand?

2006-08-18 16:35:40 · 2 answers · asked by helilife 1 in Politics & Government Immigration

2 answers

Hi

Purchase of land in New Zealand by non New Zealanders is controlled by the Government's Overseas Investment Office. Generally speaking, if you are NOT a New Zealander, you will NOT need their permission to buy an urban property with no lake, river or sea access and if it is not next to a reserve or heritage area and when it is the first property you purchase in New Zealand and it is less than 5 hectares in area.

However, the Overseas Investment Office will want to know if you are buying close to a river or lake, on a beachfront property, a lifestyle block and farmland or, indeed any piece of land that is deemed 'sensitive'. If such is the case then you will need to have their approval before the purchase can proceed. Approval will often be granted if you can demonstrate that there is a benefit to New Zealand, there is no detrimental affect and/or that the land is not of a 'sensitive' nature.

So, in general, a non New Zealander buying a house on a standard residential site in a town or city would not be restricted, but purchasing a large area of rural land would require the prior approval of the government.

New Zealanders can buy any block of available land provided it is not subject to any form of government legislated covenant or restriction (e.g. foreshore, beaches, reserves, national parks, etc etc)

Some reference websites are listed below.

2006-08-21 10:48:45 · answer #1 · answered by johno 6 · 0 0

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2016-11-26 01:06:52 · answer #2 · answered by harrow 4 · 0 0

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