| Decision | Consent Granted Section 12(a) Overseas Investment Act 2005 |
|---|---|
| Decision date | 3 February 2010 |
| Investment | An overseas investment in sensitive land, being the Applicant's acquisition of a freehold interest in 1.4442 hectares of land at 58 McMillan Rd, Katikati. |
| Consideration | $759,000 |
| Applicant | Gastronomad Trust United States of America (100.0%) |
| Vendor | Anthony Ian Gallaugher and Jennifer Jane Gallaugher New Zealand (100.0%) |
| Background | The principal beneficiary of the Applicant is Erik Wolf who is resident in Oregon, USA. He has been granted a long term Business Visa which is classified as a work to residency visa. He fully intends, and has commenced the process towards, becoming a New Zealand resident. The reason for the investment is to facilitate Erik Wolf’s intention to set up home and to reside indefinitely in New Zealand. The overseas investment transaction has satisfied the criteria in section 16(1)(e)(i) of the Overseas Investment Act 2005. |
| More information | Charlotte Isaac McCaw Lewis Chapman (Hamilton) PO Box 9348 HAMILTON 3240 |