Overseas Investment Office (OIO)
New Zealand welcomes foreign investment. Abundant
resources and a positive economic outlook make New Zealand an
excellent place to invest. While the government encourages foreign
investment, the process is controlled by legislation and can be
complex and time consuming.
Certain investments require an application to the Overseas
Investment Office (OIO).
What is the Overseas Investment Office (OIO)?
An agency of the New Zealand Government, the OIO assesses
applications for approval where an acquisition involves:
- Sensitive land (in simple terms, non-urban
areas greater than five hectares in area, or smaller areas which
are deemed "sensitive" because they include or adjoin bodies of
water, parks or other areas of sensitivity)
- Business assets or securities with a value
greater than $NZD100M (higher for non-government Australian
investors)
- Fishing quotas
Martelli McKegg's Foreign
Investment Publication outlines the OIO process,
including requirements for consent, timeframes and application
fees.
The OIO has produced a helpful flowchart to assist when
determining whether land is sensitive.
How Martelli McKegg can help facilitate your investment
Martelli McKegg's Foreign Investment Team has extensive
experience assisting investors to obtain the necessary government
approvals. Led by Melissa Clark, we can help smooth the
legal process with practical advice about the process and thorough
preparation of the application for approval.
Having obtained OIO approval for a range of investors in a wide
variety of industries means there will be few issues that we have
not successfully overcome before. Our positive working
relationship with OIO staff also enables us to maintain open and
constructive dialogue with the regulator to ensure an efficient
process. We also co-ordinate the annual reporting that is required
in most instances.
Quality legal advice from experienced specialists is fundamental
to ensure a positive experience - and a cost effective and timely
outcome to an investor's application.
Clients can also benefit from Martelli McKegg's links to Meritas - a global
organisation of over 170 law firms.
Testimonials
"Melissa Clark and her team assisted DAIKEN Corporation to
obtain OIO approval for a share acquisition. Melissa steered
our team through the approval process and continues to assist us
with our annual reporting requirements. Melissa gave us clear
guidance about the type of information the OIO requires to ensure a
successful outcome and this made the approval process run very
smoothly." Eve Osborne - Executive Board Advisor, Daiken
Corporation
Articles
OIO consent granted
for school ipads
Insights from the
latest OIO decisions
OIO approvals
secured by school donations
Recent work (including work by Craig Nelson at his previous
firm)
- Regenal Investments Pty Limited - approval to
acquire 73% of the Challenger Wine Trust (now Belvino Investments)
which owns 700 hectares of vineyard land in Marlborough and the
Hawkes Bay
- DAIKEN Corporation - approval to acquire 85%
of DAIKEN NZ which owns a large MDF manufacturing plant in
Rangiora
- Maehtech Pty Limited - approval to acquire
100% of Cheetham Salt Limited which has interests in the Lake
Grassmere salt works in Marlborough
- Ingham Enterprises Pty Limited - disposal of
large scale poultry business (assisting vendor with OIO
requirements)
- QWIL Investments (NZ) Pty Limited - approval
to acquire the Northbank vineyard in Marlborough with an operating
lease to Treasury Wine Estates
- QWIL Investments (NZ) Pty Limited - approval
to acquire the Mudhouse vineyard portfolio comprising five
vineyards in Marlborough, Waipara and Central Otago with operating
leases to Accolade Wines
- Various lifestyle blocks, hobby farms and rural
holdings
- Blakely Pacific Limited - approval to acquire
an 85 hectare forest in Canterbury (and other forest acquisitions
before this)
- Matariki Forests - approval to acquire a 309
hectare forest in Opotiki (and other forest acquisitions before
this)
- Duxton Asset Management Pte Limited - approval
to acquire 50% of New Zealand Pastures Limited, which owns 23,471
hectares of farm land
- O:TU Investments Limited - approval to acquire
337 hectares of land and vineyards in Marlborough
- Heineken International B.V. - approval for
Heineken to acquire up to 100% of Asia Pacific Breweries Limited,
which in turn owns DB Breweries Limited
To discuss the investment process please contact Melissa
Clark on +64 9 379 7333.
Contact
Melissa
Clark
Kay Keam
Steven
Lee
Links
Meritas
- Doing business in Australia and New Zealand
Overseas Investment Office