Revisions Planned for Overseas Investment Ban in New Zealand

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New Zealand has new legislation coming into force this week amending the prohibition on foreign purchasers obtaining existing homes. The administration in New Zealand has declared it will extend the amendment of the NZ Overseas Investment Act to incentivise willing foreign investors as long as they are “in line with national interest”.

New laws to actualise the extra measures hopes to be finished by 2020, after further discussions.