| Decision | Consent granted Section 12(a) Overseas Investment Act 2005 |
|---|---|
| Decision Date | 4 July 2017 |
| Investment | An overseas investment in sensitive land, being the Applicant's acquisition of:
|
| Consideration | $5,750,000 |
| Applicant | FL Hope Limited Bei Keen Wong, Singapore (100%) |
| Vendor | Vendors Kaitara Farms Limited James Douglas Donaldson and Neil Finlay McNab (as trustees of the J D Donaldson Trust) Douglas Ian Donaldson, Lenore Dwight Donaldson and Neil Finlay McNab (as Trustees of the Kaitara Farms Trust) |
| Lessor | Kiwirail Limited Minister of Finance, New Zealand (50%) Minister for State Owned Enterprises, New Zealand (50%) |
| Background | The individuals with control of the Applicant, being Bei Keen Wong and her family, intend to migrate to New Zealand and reside here indefinitely. Overseas persons intending to reside in New Zealand indefinitely are not required to show that their investment in sensitive land is likely to benefit New Zealand. This is because the ownership of that land will assist new migrants to settle in New Zealand and the benefits of the proposed migration will be considered under immigration legislation. |
| More information | Alan Lear Barrister AUCKLAND |