Overseas investment decision for case 200720038 - Callwood (William James)

The application has been approved as it met the criteria.

The Overseas Investment Office is satisfied that the Applicant has business experience and acumen relevant to and is demonstrating financial commitment towards the investment. The Overseas Investment Office is further satisfied that the Applicant is of good character and not the kind of person referred to in section 7(1) of the Immigration Act 1987.

Background:
The Applicant sold his farming and contracting business in the United Kingdom, and purchased an agricultural contracting business, Agmulch Contracting, in June 2006. The business has expanded since this date. The Applicant also owns two small blocks of land, under 5 hectares, for hay making and rearing calves. The Applicant currently holds a New Zealand long term business visa which expires on 26 September 2009. The Applicant is demonstrating a commitment to New Zealand through applying for and taking up New Zealand permanent residency. The Applicant intends to reside in New Zealand indefinitely.

Outline of Proposed Investment:
The farm at present is run down and uninhabited. The Applicant wishes to make improvements to the farm by re-seeding, fertilising and re-fencing. He intends to control weeds and possums, in addition to re-working the physical landscape for optimum grazing, shelter and water drainage.

Rationale of Proposed Investment:
The Applicant believes the property will be a valuable addition to his existing agricultural contracting business. It will ensure that in the quieter winter months staff will be occupied by farm work. The property will also provide a house, buildings and land to operate from.