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Have they removed the "Trust" loophole? This is where you setup a local trust, and purchase the property through that trust (and not a non-resident). People c
by Max_aaa 8y ago
Have they removed the "Trust" loophole?
This is where you setup a local trust, and purchase the property through that trust (and not a non-resident).
People can also still purchase properties through local proxies.
- vorg 8y agoProxy purchases would be common via the informal financing system in places like Wenzhou. It's hard to imagine how the NZ government could possibly enforce such proxy purchases, especially since Australians and Singaporeans are exempt from the foreign buyer restrictions. Australia, New Zealand, and Singapore all have high immigration from China, and such immigrants can easily act as the proxies of anyone with an informal business relationship with a lender in Zhejiang.