Thinking about buying some acreage and building a second home in NZ. What's any big differences in property taxes and other regulations, red tape etc. that is different than in the U.S.?
I could be wrong but I thought I read somewhere that NZ no longer allows foreign ownership of land or property. Also you must self fund, or bring business that would benefit the community. I could be wrong as I am unsure of NZ laws.
They still allow foreigners to own rural land, but you have to get permission. It's a way to discriminate against Asians. But I'm not Asian so I don't care. I want to know about regulations and taxes. Thx.
Article is two years old and I think they have brought in new legislation since then... (yes see below - Aug 2018, the new laws were due to the wealthy buyers pushing up house prices beyond the reach of locals) Silicon Valley super-rich head south to escape from a global apocalypse https://www.theguardian.com/technology/2017/jan/29/silicon-valley-new-zealand-apocalypse-escape They think they're getting away... but now we know where to find them New Zealand bans foreigners from buying property in effort to clamp down on house price growth https://www.abc.net.au/news/2018-08-15/new-zealand-bans-foreigners-from-buying-property/10124290
Umm don't know if it is a Pro or a Con, but Australia continues to try and annex NZ as a state. They claim their celebrities and many of their achievements as their own. Making deals to allow free movement between nations so as to suggest inclusions while pushing their agendas to steal the spotlight and achievements from the great work of Kiwi's world
