| Decision number | 200520087 |
|---|---|
| Application number | 200520102 |
| Date | 24 November 2005 |
| Offeror/applicant | Stiers (William Richard and Kari Moe) of United States of America |
| Ultimate applicant beneficial ownership | 100 percent - United States of America |
| Beneficial overseas ownership | |
| - Asset current | 0 percent |
| - Asset proposed | 100 percent |
| - Share current | N/A |
| - Share proposed | N/A |
| Offeree(s)/seller(s) | Rohan (Mark Andrew) of New Zealand |
| Business activities | Lifestyle Property |
| Details of land involved | 1.0162 hectares of freehold situated at Broadview Road, Point Veronica, Opua being CT NA82D/80 (North Auckland Registry). |
| Regions involved | Northland |
| Total consideration | $1,250,000 |
| Consent Sought | To acquire an estate or interest in land which together with any associated land exceeds 0.4 hectares and adjoins any scientific, scenic, historic, or nature reserve under the Reserves Act 1977 that is administered by the Department of Conservation and that exceeds 0.4 hectares in area. |
| Rationale | The application has been approved as it met the criteria. The Overseas Investment Office is satisfied that the individuals with control of the Applicant collectively have business experience and acumen relevant to the overseas investment, and that the Applicant has demonstrated financial commitment towards the overseas investment. The Overseas Investment Office is further satisfied that each individual that exercises control over the Applicant are of good character and are not an individual of the kind referred to in section 7(1) of the Immigration Act 1987. The Applicants who are applying for New Zealand permanent residency under the Skilled Migrant category, propose to acquire the subject property for a permanent residence. The Applicants are demonstrating a commitment to New Zealand through applying for and taking up New Zealand permanent residency. |
| Contact | Nicole Prosser Law Direct PO Box 497 KERIKERI |