Overseas Investment (National Interest and Other Matters) Amendment Bill: What Investor Migrants Need to Know

  • Property



The Overseas Investment (National Interest and Other Matters) Amendment Bill was passed on Friday, 12 December and is expected to come into force in the new year. These changes introduce important new opportunities - and obligations - for investor migrants looking to purchase residential property in New Zealand.

Most notably, certain investor visa holders will soon be able to buy or build a home in New Zealand valued at more than NZ $5 million, subject to consent under the Overseas Investment Act.

Who Will Be Eligible?

Under the new rules, investors holding the following visas may apply for consent to purchase residential land:

  • Active Investor Plus (AIP) visa
  • Investor 1 visa
  • Investor 2 visa

Broader restrictions on overseas ownership of residential land remain in place, and Overseas Investment Office (OIO) consent will still be required.

Property Purchase Rules: What’s Changing?

Eligible investor migrants will be able to:

  • Buy an existing home or
  • Buy land and build a home

Provided that:

  • The purchase price, or the combined land purchase and build cost, exceeds NZ $5 million
  • The purchase is not contrary to New Zealand’s national interest
  • The investor does not already own residential land purchased under these rules

Consent will be granted subject to conditions.

Timing Matters: When Is Consent Required?

Consent under the Overseas Investment Act must be granted before residential land is acquired. This means investors must either:

  • Obtain consent before signing a sale and purchase agreement, submitting a tender, or bidding at auction; or
  • Ensure any agreement, tender, or bid is conditional upon consent being granted

Investor visa holders should obtain legal advice before entering into any agreement, including conditional contracts.

Conditions You Can Expect

All consents will include conditions requiring investors to:

  • Notify Land Information New Zealand (LINZ) once land or a home is purchased

If purchasing land to build a home, additional conditions may apply, including requirements to:

  • Complete construction of the home
  • Ensure the combined land and build cost exceeds NZ $5 million
  • Report regularly on build progress and costs
  • Sell the land if the build is not completed or the cost threshold is not met

Residential land may be purchased through a company or trust, but there are restrictions on who may be involved. Specialist legal advice is strongly recommended.

Preparing a Strong Consent Application

With these changes expected to take effect early in the new year, investors should begin preparing clear, complete consent applications now.

We can assist with:

  • Strategic guidance on eligibility and structuring
  • Drafting and reviewing OIO consent applications
  • Advising on conditions, timing, and risk management

Regulatory Oversight

LINZ regulates overseas access to New Zealand land, residential property, and significant business assets. It administers and applies the Overseas Investment Act and makes decisions on overseas investment applications.

If you are considering purchasing property under the new investor rules, early planning will be critical.