| Decision | Consent granted Section 12(a) Overseas Investment Act 2005 |
|---|---|
| Decision Maker | Overseas Investment Office |
| Decision Date | 19 November 2020 |
| Pathway(s) | Sensitive land– intention to reside |
| Investment | An overseas investment in sensitive land, being the Applicant's acquisition of a freehold interest in 193.0880 hectares of land at 919 Mangakuri Road, Elsthorpe, Hawkes Bay. |
| Asset Value | $2,000,000 |
| Applicant | Ronald Swager and Wendy Swager United States of America (50%) United States of America/Australia (50%) |
| Vendor | Angus Taylor Family Trust New Zealand (100%) |
| Background | 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 supports migrants in the process of moving to New Zealand to make New Zealand their home.
The Applicants have satisfied the OIO that they intend to obtain New Zealand residency and reside in New Zealand indefinitely. Both Wendy and Ronald were previously living in New Zealand, but Wendy returned to the United States earlier this year to sell their home and prepare for their move. Wendy intends to return to New Zealand by the end of the year. |
| More information | Catherine Reid Barrister |