#

Ease of Doing Business in

New Zealand

New Zealand Download Profile (1691.8KB, pdf)
Region OECD high income
Income Category High income
Population 4,595,700
GNI Per Capita (US$) 40,080
City covered Auckland

190

1

DB 2017 Rank

1

100

DB 2017 DTF (% points)

  • local_library
  • group
Topics DB 2017 Rank DB 2016 Rank info_outline Change in Rank DB 2017 DTF (% points) info_outline DB 2016 DTF (% points) info_outline Change in DTF (% points) info_outline
Overall 1 1
0
87.01 86.96 down
0.05
Starting a Business 1 1
-
99.96 99.96
-
Dealing with Construction Permits 1 1
-
87.40 87.44 down
0.04
Getting Electricity 34 28 down
6
83.96 83.96
-
Registering Property 1 1
-
94.46 94.46
-
Getting Credit 1 1
-
100.00 100.00
-
Protecting Minority Investors 1 1
-
83.33 83.33
-
Paying Taxes 11 13 up
2
90.71 90.27 up
0.44
Trading across Borders 55 53 down
2
84.55 84.55
-
Enforcing Contracts 13 12 down
1
74.25 74.25
-
Resolving Insolvency 34 32 down
2
71.43 71.41 up
0.02

Positive= Doing Business reform making it easier to do business.Negative= Change making it more difficult to do business.

DB 2017 Rank:

1

DB 2016 Rank:

1

Change in Rank:

0

DB 2017 DTF (% points):

94.46

DB 2016 DTF (% points):

94.46

Change in DTF (% points):

0.00

STANDARD PROPERTY TRANSFER
Property value NZD 2,615,466
City Auckland
Indicator New Zealand OECD high income
Procedures (number) info_outline 2 4.7
Time (days) info_outline 1 22.4
Cost (% of property value) info_outline 0.1 4.2
Quality of the land administration index (0-30) info_outline 26 22.7
  • Measure of efficiency
    No. Procedure Time to Complete Associated Costs
    1

    Obtain a Land Information Memorandum

    Agency: Auckland Council

    The Land Information Memorandum (LIM) is not a legal requirement for registration, but it is an essential contractual requirement in practice. The LIM provides information on the legality of the building, building permits, restrictions on land use, rates, special characteristics of the land, drainage, etc. LIMs are issued by local authorities. LIMs are either issued within a day if ordered online through urgent procedure, or might be issued and sent in 10 days if the standard procedure is selected.


    Most conveyancing is done by lawyers, but there is still an option for legal entities to register transfers though a (i) licensed conveyor or (ii) themselves.

    Less than a day (online procedure) Auckland Council fee from NZD 275 (standard service) to NZD 380 (urgent service). Both prices include the General Service Tax of 15%, which is removed from the total cost calculation.
    2

    Register title through Land Information New Zealand

    Agency: Land Information New Zealand

    The Land Information New Zealand (LINZ) platform is an online property registration system. Confirmation is usually returned online within minutes. LINZ currently operates a dual system:

    - An online land title registration system.

    - A paper based registration system (via LINZ processing centers).


    It is possible to register manually through one of the Land Titles Offices. In this case, it would take 10 working days and cost NZD 176 (plus NZD 20 counter fee per instrument). Conveyancers and or lawyer's fees, if used, would be approximately NZD 1,500. There is a cost to the vendor, which involves selling a property through a real estate agent, which would cost up to 4% of the purchase price. A person could privately advertise the sale of their property. The lawyer/conveyancer is required to certify that documents are correct and in order for registration . The documentation shall include:


    The documentation shall include:

    - Personal identification

    - Written authority for the conveyancer/lawyer to register the property electronically

    - Signed transfer of property

    -Tax Statement from the buyer and the seller: After the Land Transfer Amendment Act of 2015, both parties of the transaction have to submit a Tax Statement which contains details of the title being transferred, the buyer or seller, if the land has a home on it, if the parties are New Zealand Citizens (or local companies), visa holders, whether any exemption applies (the main one being where the property is a person’s main home) and confirmation as to whether the person/entity is tax resident anywhere else in the world. The Tax Statement must include the IRD (tax) number

    Less than a day (online procedure)

    Note: the LINZ performance standard for paper based registration, 90% are registered within 10 working days. Currently transactions are now being processeed in 8-12 working days.



    NZD 80 registration fee per transfer (for online registration) plus NZD 1,500 for conveyancer fee.

  • Measure of quality
    Answer Score
    Quality of the land administration index (0-30) 26.0
    Reliability of infrastructure index (0-8) 8.0
    What is the institution in charge of immovable property registration? Land Information New Zealand
    In what format are the majority of title or deed records kept in the largest business city—in a paper format or in a computerized format (scanned or fully digital)? Computer/Fully digital 2.0
    Is there an electronic database for checking for encumbrances (liens, mortgages, restrictions and the like)? Yes 1.0
    In what format are the majority of maps of land plots kept in the largest business city—in a paper format or in a computerized format (scanned or fully digital)? Computer/Fully digital 2.0
    Is there an electronic database for recording boundaries, checking plans and providing cadastral information (geographic information system)? Yes 1.0
    Is the information recorded by the immovable property registration agency and the cadastral or mapping agency kept in a single database, in different but linked databases or in separate databases? Single database 1.0
    Do the immovable property registration agency and cadastral or mapping agency use the same identification number for properties? Yes 1.0
    Transparency of information index (0–6) 4.0
    Who is able to obtain information on land ownership at the agency in charge of immovable property registration in the largest business city? Anyone who pays the official fee 1.0
    Is the list of documents that are required to complete any type of property transaction made publicly available–and if so, how? Yes, online 0.5
    Link for online access: http://www.linz.govt.nz/land/land-registration/prepare-and-submit-your-deal...
    Is the applicable fee schedule for any property transaction at the agency in charge of immovable property registration in the largest business city made publicly available–and if so, how? Yes, online 0.5
    Link for online access: http://www.linz.govt.nz/about-linz/fees/survey-and-title-fees
    Does the agency in charge of immovable property registration commit to delivering a legally binding document that proves property ownership within a specific time frame–and if so, how does it communicate the service standard? Yes, online 0.5
    Link for online access: http://www.linz.govt.nz/land/land-registration
    Is there a specific and separate mechanism for filing complaints about a problem that occurred at the agency in charge of immovable property registration? No 0.0
    Are there publicly available official statistics tracking the number of transactions at the immovable property registration agency? No 0.0
    Number of property transfers in the largest business city in 2015:
    Who is able to consult maps of land plots in the largest business city? Anyone who pays the official fee 0.5
    Is the applicable fee schedule for accessing maps of land plots made publicly available—and if so, how? Yes, online 0.5
    Link for online access: http://www.linz.govt.nz/land/land-records/types-land-records
    Does the cadastral or mapping agency commit to delivering an updated map within a specific time frame—and if so, how does it communicate the service standard? Yes, online 0.5
    Link for online access: http://www.linz.govt.nz/land/landonline
    Is there a specific and separate mechanism for filing complaints about a problem that occurred at the cadastral or mapping agency? No 0.0
    Geographic coverage index (0–8) 8.0
    Are all privately held land plots in the economy formally registered at the immovable property registry? Yes 2.0
    Are all privately held land plots in the largest business city formally registered at the immovable property registry? Yes 2.0
    Are all privately held land plots in the economy mapped? Yes 2.0
    Are all privately held land plots in the largest business city mapped? Yes 2.0
    Land dispute resolution index (0–8) 6.0
    Does the law require that all property sale transactions be registered at the immovable property registry to make them opposable to third parties? Yes 1.5
    Is the system of immovable property registration subject to a state or private guarantee? Yes 0.5
    Is there a specific compensation mechanism to cover for losses incurred by parties who engaged in good faith in a property transaction based on erroneous information certified by the immovable property registry? No 0.0
    Does the legal system require a control of legality of the documents necessary for a property transaction (e.g., checking the compliance of contracts with requirements of the law)? Yes 0.5
    If yes, who is responsible for checking the legality of the documents? Registrar; Lawyer.
    Does the legal system require verification of the identity of the parties to a property transaction? Yes 0.5
    If yes, who is responsible for verifying the identity of the parties? Lawyer.
    Is there a national database to verify the accuracy of identity documents? Yes 1.0
    For a standard land dispute between two local businesses over tenure rights of a property worth 50 times gross national income (GNI) per capita and located in the largest business city, what court would be in charge of the case in the first instance? High Court
    How long does it take on average to obtain a decision from the first-instance court for such a case (without appeal)? Between 1 and 2 years 2.0
    Are there any statistics on the number of land disputes in the first instance? No 0.0
    Number of land disputes in the largest business city in 2015: The Courts of New Zealand publishes statistics about cases but they do not differentiate property cases from other types
    Equal access to property rights index (-2–0) 0.0
    Do unmarried men and unmarried women have equal ownership rights to property? Yes 0.0
    Do married men and married women have equal ownership rights to property? Yes 0.0