Overseas investment decision for case 200820035 - Ealfgifu Limited

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 is of good character and is not an individual of the kind referred to in section 7(1) of the Immigration Act 1987.

Background to the Investment:
The Vendors wish to subdivide the family home from the Land and sell the balance land and forest because the long-term nature of a forestry investment does not accord with their retirement requirements. Despite advertisement of the land there has been no interest in purchasing it other than from the Applicant.

Outline of the Investment:
The Applicant proposes to acquire the Land because it accords with their goal of investing in steady, compounding, inflation-protected investments for long term wealth creation purposes.

Rationale for the Investment:
The acquisition of the Land will contribute towards the Applicant's strategy of diversification away from the United Kingdom.

The proposed overseas investment is or is likely to benefit New Zealand (or any part of it or group of New Zealanders) having regard to the following factors:

Overseas Investment Regulations 2005:
r28(a) - Other consequential benefits
r28(e) - Previous investments
r28(f) - Significant government policy or strategy