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Dear All,
I know that there are rulres regarding investment of non-nationals in Australia, however do these same regulations apply to the New Zealand market?
Any advice or links would be greatly appreciated.
Adam
[8D]try this one first….
http://www.movetonz.govt.nz/Bml/away/doing-business/sub-regulation.htm
quote from page:
Overseas Investment Commission
The Overseas Investment Commission (OIC) is responsible for approving certain classes of investment proposals by prospective overseas investors, and for expanding local investment by existing overseas investors. An “overseas” person includes any company or individual not ordinarily resident in New Zealand, and any New Zealand company where overseas owners hold 25% or more of its shares or voting power.Overseas people need consent from the OIC to acquire or take control of 25% or more of:
* businesses or property in New Zealand worth more than NZ$50 million;
* land over 5 hectares and/or worth more than NZ$10 million;
* any land on most off-shore islands; and
* land over 0.4 hectares which includes or adjoins certain sensitive areas (such as foreshores, lakes, specified islands, reserves, and historic or heritage areas).The OIC reviews proposals in terms of the net economic benefit to New Zealand. It approves investments that do not involve land if the investor has business experience and acumen, financial commitment and good character. Investments involving land must also meet a “national interest” test.
New Zealand Overseas Investment Commission
One more tip: Don’t be afraid to do your own research – because a lot of the info you need is on the web and easy to find. I used google
It’s a search engine – i,e, to get the info above i typed in the words
“rules foreign investors NZ regulations”
Hi Mini,
Thanks for the pointers I’ll have a look through all that information.
Cheers
Adam
[8D]
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