Wynn Williams can advise on all aspects of investing in New Zealand. We’ve provided some introductory information below.
In certain cases, an Overseas Person who wants to invest in New Zealand or acquire land must obtain the consent of the Overseas Investment Office (“OIO”).
Consent is required if you are an Overseas Person and wish to acquire:
- Business assets worth more than $100m, or
- Sensitive Land or an interest in Sensitive Land (e.g by buying shares in a company that owns Sensitive Land), or
- Fishing quota, or an interest in a fishing quota
You will be defined as an Overseas Person if you are not a New Zealand citizen, nor ordinarily resident in New Zealand. The definition includes individuals and other entities such as a company, partnership or trust.
To obtain consent, you will need to meet the core “investor test” criteria required by the OIO. In addition, consent to acquire Sensitive Land will only be granted if the transaction will benefit New Zealand, or the relevant Overseas Person intends to reside in NZ indefinitely.
Broadly speaking, Sensitive Land includes: non-urban land exceeding 5 hectares; land which includes a lake, foreshore or seabed areas; and certain other sites of historic or conservation interest.
As the first step, Wynn Williams can advise whether your proposed investment will require OIO consent. Contact one of the team:
OIO Consent enquiries