New Zealand Property and Citizenship Guide

Key Facts:

Climate - temperate with sharp regional contrasts

Population - 5,030,280

GDP (Per Capita) (2018) - $41,616

Official Language - English, Maori, NZ Sign Language

Major religions - No Religion (48%), Christian (37%), Hinduism (2.6%), Islam (1.3%), Buddhism (1.1%)

Ethnic Groups - European (59.9%), Maori (15.4%), Chinese (4.6%), Indian (4.4%), Samoan (3.6%)

Government - parliamentary democracy under a constitutional monarchy; a Commonwealth realm

Currency - New Zealand Dollar (NZD)

Taxes - New Zealand resident individuals are taxed on their worldwide income, with a foreign tax credit available for foreign income tax paid. The amount of the foreign tax credit available is for the lesser of New Zealand income tax payable or the amount of foreign tax paid. Conversely, nonresidents of New Zealand are taxed only on New Zealand-source income. Tax is deducted at source for wage and salary earners. Most individuals are subject to pay-as-you-earn (PAYE) deductions from their employment income and resident withholding taxes on dividends and interest and are subject to an automatic end-of-year assessment process, meaning annual income tax returns are not required. Taxpayers with other types of income, such as business and rental income, foreign income, foreign investment fund income, income from trusts, certain capital gains and passive income, are required to submit annual income tax returns. Joint returns are not permitted.

Progressive rates up to 33% apply. There is no tax-free threshold. There is no capital gains tax regime in New Zealand. However, certain gains arising from profit-making schemes or undertakings or the disposal of personal property purchased with the intention of resale or for a business dealing in that property are taxable.

Gains on the sale and transfer of land may be taxable in certain circumstances (including land acquired with the purpose or intention of disposal). Additionally, gains from the sale of residential property that is sold within the five-year bright-line period (with an exception for the family home) are taxable.

Residency by Investment:

To live in New Zealand permanently, you need a resident visa. There are a number of pathways to obtaining a resident visa, many of which start with a temporary visa allowing you to work, study or own a business in New Zealand. Some visas, such as those granted under the Skilled Migrant Category, grant you residence right away. You need to comply with any conditions attached to your visa, to ensure your pathway to residence is not interrupted.

Citizenship by Investment:

To be Updated.

What makes it Special?

To be Updated.