New Zealand

New Zealand

Prevention of certain people from overseas from buying residential property

22 Oct 2018

The Overseas Investment Amendment Act 2018, which was to amend the Overseas Investment Act 2007, came into force on 22 October 2018. The changes prevent certain overseas people from buying residential property in New Zealand. With some exceptions for Australian and Singaporean citizens, anyone who is not a New Zealand citizen or is not ‘ordinarily resident’ in New Zealand, is an overseas person.