It intends to summarise the relevant law and describe the procedures that need to be carried out before legally sanctioned investment in New Zealand land can take place. Background The New Zealand overseas investment regime is a consent-based system. Overseas persons wishing to invest in New Zealand, whether in land or non-land assets, must in certain circumstances apply for a consent. These consents are used to control and restrict investment seen as undesirable. If an overseas person fails to obtain a necessary consent from the OIC, the High Court of New Zealand has the power to order disposal of any property acquired.
More specific rules restrict investment in land.
The most restrictive rules apply to land on smaller islands, where consent must always be sought before acquiring land. Prospective investors in land should note three matters. The OIC accepts that the thresholds in relation to land areas apply to individual parcels of land, not cumulative holdings. Therefore, consent will not be required for the purchase of several separate 1 hectare blocks . This might include, for example, leases or easements, and even options to purchase.