The Overseas Investment Amendment Act comes into force on 22 October 2018, and brings significant changes for conveyancers. The regime restricts certain overseas people from buying or building a home here, but opportunities are available for overseas people to buy residential land and increase New Zealand’s housing stock. There are different rules for Australians and Singaporeans, and understanding residency status will be important.
While the onus for determining eligibility rests with the purchaser, in practice purchasers will be encouraged to seek the support of their conveyancer to determine this. Every purchaser will be required to complete a Residential Land Statement confirming their eligibility to buy. The conveyancer must retain a record of this statement for at least seven years or face fines of up to $20,000.
The presenters will provide an overview of the regime, and the pathways to consent that are available for overseas people. They will cover changes to the definition of important terms, such as ‘sensitive land’, ‘overseas person’ and ‘ordinarily resident’.
Other topics covered will include:
By attending this webinar you will:
All property and company/commerical lawyers.
A background book written by the presenters is now available in hard copy, PDF, or both. Please indicate your choice upon registration.
View PDF brochure and registration form here.
|I can't attend, but please let me know when the book is available to purchase.|
Since the webinar is available to registrants as an archive after the live presentation, there is no cancellation – we just transfer your user status as a registrant from the live presentation to a purchaser of the webinar package of recorded webinar, PowerPoints and booklet.