Regulation of Foreign Investment in New Zealand
Foreign investment in New Zealand is generally encouraged. However, there are certain rules in place designed to ensure that sensitive New Zealand assets (land in particular) are protected. The Overseas Investment Act 2005 (Overseas Investment Act) regulates investments by “overseas persons” in “sensitive land” and/or “significant business assets”. It does this principally through the Overseas Investment Office (OIO). If consent is required under the Overseas Investment Act in respect of a land or business acquisition, then an application must be made to the OIO and consent must be granted by it (and, in some cases, the relevant government ministers) before the investment can proceed.