So, you’ve been living in New Zealand on a resident visa. You’ve settled in, found your local café, maybe even joined a gym. Now you’re thinking about buying a place to call your own.
Simple, right? Not quite.
While New Zealand has plenty of wide‑open space and welcoming communities, it also has strict rules around overseas investment for those who are not currently New Zealand citizens. Legal Executive Masami Chida, part of the expert team at Corban Revell, guides clients through this complex process. She’s part of the team that delivers Property Law services tailored to each client’s situation, whether you’re navigating Overseas Investment Office (OIO) consent or finalising a purchase.
Do You Actually Need Consent to Buy?
Under the Overseas Investment Act, most people who are new to New Zealand need to get permission from the OIO to buy residential land. That includes many people living here on resident visas.
“Lots of my clients have made New Zealand their home, but they haven’t quite ticked all the boxes to be considered ‘ordinarily resident,’” Masami explains. “They want to buy a home to live in, but they don’t realise they still need official consent.”
To be classed as “ordinarily resident” in New Zealand, you must:
- Have a resident class visa
- Have been living here for at least 12 months
- Have spent at least 183 days in New Zealand in the last year
- Be a tax resident
Fall short on any of these, and you’ll likely need to apply for consent before you can buy.
What’s the Process Like?
The good news? The process isn’t as scary as it sounds, especially with the right support.
Masami helps clients determine whether they need consent or if they qualify for an exemption. “Sometimes people assume they can’t buy when they actually can. Other times, they dive in without checking and end up in a tricky situation.”
If consent is needed, Masami helps with the application and submission process, making sure everything is accurate and submitted on time. She often works with Japanese clients, offering support in their own language.
“Language is a huge part of feeling comfortable with legal matters. Many of my clients, especially those who are new to the country, just want someone they can trust to explain things clearly without confusion,” she says.
How Long Does Consent Take?
Timing is everything when buying a property, and thankfully the OIO process is relatively fast.
“In most cases, we get consent within ten working days,” Masami says. “In fact, I’ve even had it approved in just one day.” That timeframe works well with most Sale and Purchase Agreements, which typically have a 10-day conditional clause.
The application fee is around $2,000, not including legal costs, but the peace of mind is worth it.
What Happens If You Skip the Consent?
Short answer: don’t.
“The consequences of buying without consent can be serious,” Masami says. “If you buy without the proper clearance, for example at an auction, you may face significant penalties and have to sell the property.”
What About Commercial Property?
Here’s where things get a bit easier. If you’re looking at commercial or non-residential property, the rules are more relaxed.
“An overseas person can often buy commercial property without needing consent,” Masami notes. “It’s mostly residential property that’s restricted.”
Masami’s role often includes helping clients clarify exemptions like these, especially if the situation is complex or unclear.
Culturally In-Tune Legal Support
One of Masami’s strengths is her ability to support clients in a culturally sensitive way. Born in Japan and fluent in both Japanese and English, she works with clients from Japan, Korea, India, and beyond.
“When you’re making one of the biggest financial decisions of your life, it helps to talk to someone who understands where you’re coming from,” she says. “That’s true for the legal stuff, but also just the human side of the process.”
Thinking About Buying?
If you’re living in New Zealand on a resident visa and considering buying property, it pays to talk to someone who knows the ins and outs of the Overseas Investment Act, and how to navigate it without stress.
“Just ask,” Masami says. “Sometimes people assume it’s too hard or that they’ll be turned down. But often, they’re closer to eligibility than they realise.”
If you’d like to understand your options more clearly, Masami is available to help.