English | 日本語

Purchase of rural land in New Zealand by non-residents

The New Zealand government has a regulatory regime in place to control the sale of rural land to other than New Zealand citizens or to individuals who have not been granted new Zealand residency. These regulations mostly affect land over 5 hectares in size. A primary consideration of the Overseas Investment Corporation (OIC) when considering applications by overseas persons for the purchase of land over 5 hectares in size will be the applicant’s intention and ability to take up residency in New Zealand . Other aspects considered of importance could be the intention of the new owner further develop the property and or create further direct or indirect employment opportunities.

The current regulatory regime:

Under the regulations an \overseas person” must obtain consent in order to acquire or take “control” of 25% or more of:

1. Businesses or property worth more than $50 million dollars; land over 5 hectares and/or worth more than $10 million dollars;

2. Any land on most off shore islands;

3. Certain sensitive land over 0.4 hectares (e.g. on specified islands, including or adjoining reserves, historic or heritage areas, or lakes);

4. Land over 0.2 hectares including or adjoining the foreshore.

More information on OIC may be viewed at:

http://www.oio.linz.govt.nz/publications.htm

http://www.oio.linz.govt.nz/faq.htm

  • Share/Bookmark

Leave a Reply