Applicant
Government of Samoa
Case number(s)
200910114
Decision date
Type
Decision
DecisionConsent granted
Section 12(a) Overseas Investment Act 2005
Decision date9 June 2009
InvestmentAn overseas investment in sensitive land, being the Applicant's acquisition of a freehold interest in 1.7425 hectares of land at 49 & 51 Norana Avenue, Favona, Auckland.
Consideration$2,000,000
ApplicantGovernment of Samoa
Samoa (100.0%)
VendorYong Hui Liu
New Zealand (100.0%)
Background

The Applicant intends to acquire the land to build a consular residence.

The overseas investment transaction has satisfied the criteria in section 16 of the Overseas Investment Act 2005. The 'benefit to New Zealand' criterion was satisfied by particular reference to the following factors:

Overseas Investment Act 2005
17(2)(a)(i) – Creation/Retention of jobs

Overseas Investment Regulations 2005
28(a) – Consequential Benefits
28(b) – Key person in a key industry
28(c) – Affect image, trade or international relations

More informationBridget Cameron
Chapman Tripp
PO Box 993
WELLINGTON 6140