| Decision | Consent granted Section 12(a) Overseas Investment Act 2005 |
|---|---|
| Decision Maker | Overseas Investment Office |
| Decision Date | 11 January 2021 |
| Pathway | Sensitive land - intention to reside |
| Investment | An overseas investment in sensitive land, being the Applicant’s acquisition of a freehold interest in approximately 92 hectares of land at 117 Knutsford Road, Otautau, Southland. |
| Consideration | $999,900 |
| Applicant | J & L Tyler Property Pty Limited New Zealand (100%) |
| Vendor | Greenend Partnership Limited 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 individuals with control of the Applicant are New Zealand citizens, however because of the structure of their acquisition of the Investment, consent under the Overseas Investment Act is required. These individuals are already living in New Zealand close to the land which comprises the Investment and meet the criteria for consent. The criteria under the ‘intention to reside’ pathway require either that the individuals with control of the Applicant be New Zealand citizens, ordinarily resident in New Zealand, or intending to reside in New Zealand indefinitely. Here, the individuals are New Zealand citizens and therefore meet the first limb of the test. |
| More information | Oliver Roberts Duncan Cotterill PO Box 5 CHRISTCHURCH 8140 |