How do I invest from overseas?
Question from Geoffrey updated on 26th May 2011:
My wife and I work overseas, but have 2 properties in NZ, and hope to move back there and retire.
1 house is free hold and tenanted
1 house is approx 12 months away from being feee hold and is tenanted
The other house, is an apartment on the waterways in Whitianga, and is rented on a daily/weely basis (holiday home). We still have a large mortgage on this property.
We make in excess of $100,000 NZD per annum each, I would like some advice on how to invest in the property market, especially around the Tauranga area, in the view of retiring with income.
Our expert Juliet Robinson responded:
You have varied property holdings and you are expatriates currently living and earning overseas. Your tax liability and investment options depend on your tax residence status. In addition there have been recent changes to the law governing companies as investment vehicles for property.
The best advice I can give you is to take your investing seriously and consult a financial advisor.
Quinovic's outstanding people and systems provide the most professional, effective and reliable residential property management service in the NZ market for over 22 years.
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