Propellor Property Investments

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Real estate investing for overseas property investors

September 17, 2018

To be a foreign investor with investment in New Zealand there are rules and regulations that must be followed. These are administered by the Overseas Investment Office who assess applications for consent from foreigners that are intending to make investments in New Zealand. If you live overseas and not a New Zealand resident you are unable to purchase a home to live in, however other investment opportunities are available:

An IRD number is required.

  • To enter into a contract to buy land or property you will need to supply a New Zealand IRD number before a settlement can occur and you take possession.

  • This applies to ALL sale and/or purchase of land/property in New Zealand

  • Your IRD number will need to be given to your lawyer and you will have to complete a signed Tax Statement before the settlement can occur and you take possession.

  • “Offshore” buyers and sellers will have to supply a New Zealand IRD number or obtain one before the settlement date. If you do not have one you will need to open a New Zealand bank account before applying for a New Zealand IRD number. Offshore buyers will also need to supply their tax number and details from their country of origin.

If you want to know more give Propellor a call or view the document attached.

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