Read Time: 4 minutes
This wasn’t just a KiwiSaver withdrawal.
It was a two-step strategy to get a London-based Kiwi’s KiwiSaver funds out of New Zealand and then use that cash to invest in property back home.
Here’s what most brokers, lawyers and clients miss:
Step 1: Apply to withdraw KiwiSaver under the permanent emigration rules.
Step 2: Once the funds hit your UK bank, use them to purchase NZ property (such as an investment or cash buyer).
We’ve attached a 12-step guide with exactly what to do.
This guide has been taken from the rules in the Kiwisaver Act (Schedule 1, Rule 14).
It’s not difficult. The only things your client really needs are time and patience.
The client had a plan. Or so he thought.
He wanted to use his KiwiSaver under the standard first-home buyer withdrawal rules to buy a house in NZ.
“I’ll just fly back for settlement and live there for a bit. I’ve got some weddings this summer and should be able to work remotely for a bit. That should tick the boxes, right?”
Not quite.
To qualify for a KiwiSaver first-home withdrawal, clients need to:
Our client lived in London, worked in London, and had no confirmed job in NZ. Even if the KiwiSaver part was approved, he couldn’t meet the bank's lending conditions.
That’s when we changed approach.
Instead of trying to force the deal through as a first-home purchase, we used the permanent emigration withdrawal option. This gave him access to his KiwiSaver in cash, with no requirement to move home or fake a job offer.
It took a few weeks. But it worked.
Choose the wrong path and everything grinds to a halt:
If that happens in the middle of a purchase, it’s usually game over. Finance falls through. The client misses settlement. The deal falls apart.
There are two completely different KiwiSaver withdrawal tracks:
This is for owner-occupiers. It requires NZ income, a declaration of intent to live in the home, and bank lending to support the purchase.
This is for Kiwis who have been living overseas for at least 12 months (excluding Australia). They can access most of their funds in cash and use it for whatever they want, including investment property.
Clients often assume it's just a form or a quick phone call. In reality, it’s a legal process that requires proper evidence and a compliant paper trail.
We walked our London-based client through both stages and helped him unlock his KiwiSaver the right way, then buy a property in NZ without getting stuck on residency or income rules.
We’ve included a 12-step checklist below, but here’s the short version:
