Overseas Investors 

New Zealand is an excellent location for both immigration and investment. If you are an overseas based investor or non-New Zealand resident, you may require consent from the New Zealand government to acquire certain types of property or make business investments over a certain size. The rules relating to such investments are set out in the Overseas Investment Act 2005.

If you are considering purchasing certain types of land, such as farms, coastal or lake front properties in New Zealand, you may required to demonstrate to the New Zealand government how your investment will benefit the country and how you will ensure that the characteristics of that land will be preserved.

This could include:

• Demonstrating to the New Zealand government that you have the business experience and acumen required to use the land for your proposed purpose.
• Proving you have a demonstrable financial commitment to your purchase.
• Intending to reside in New Zealand indefinitely or demonstrating that the purchase will benefit New Zealand in other ways. 
• If the relevant land exceeds five hectares in size, proving that there is a substantial and identifiable benefit in your acquisition of the land.  

Some of the following matters could also be taken into consideration:

• The creation of new jobs or retention of existing jobs;
• Whether new technology or business skills will be introduced to New Zealand;
• Whether there could be an increase in export receipts;
• Whether there could be added market competition, efficiency or productivity;
• Whether additional investment for development in New Zealand could be introduced;
• Whether there could be increased processing of New Zealand's primary products;
• Whether you would introduce adequate mechanisms to protect indigenous vegetation and fauna;
• That adequate mechanisms would be put in place to protect or enhance trout, salmon and protected wild-life and protect or improve walking access to those habitats;
• Whether you could put adequate mechanisms in place to protect or enhance historic heritage sites and historic places; or protect or improve walking access for the public;
• That the New Zealand government has first been offered the right to purchase land that includes the foreshore, seabed or bed of a river or lake;
• Whether the acquisition would enhance New Zealand's overseas image or international relations or that you have made previous investments in New Zealand;
• You would not necessarily need to demonstrate all of the above factors, but the more you can then the greater the likelihood of obtaining consent.

Rogers & Rutherford has the expertise to assist with all of these matters and have helped a number of overseas purchasers purchase property and invest in businesses in New Zealand.  Contact us if you require any assistance with purchasing property or investing in New Zealand.

ENQUIRE>>