Exemption certificate granted under the Overseas Investment Act 中文翻译版本

By Steven Lee - 13 Aug 2019

The intention of the changes to the Act made by the government was to make homes more affordable for New Zealand buyers and in light of this objective, any application to the Overseas Investment Office (OIO) for an exemption will be assessed very closely.

Under the Act, residential property developers have the opportunity to apply for an exemption certificate to enable them to sell a percentage of their development to overseas buyers. The development must be for a multi-storey apartment of at least 20 units. Without an exemption certificate, sales of residential units to overseas buyers are not permitted.

A residential property developer can apply for an exemption certificate that allows them to sell to overseas buyers up to the maximum percentage of 60% of new residential units in an apartment development. The exemption certificate may be subject to conditions, including but not limited to:

• the new units must be purchased by overseas buyers before the development is complete
• the overseas buyers cannot occupy the apartments
• the developer has an obligation to report to the OIO certain information gathered from sales to overseas buyers

Having the ability to sell to a wider range of buyers gives residential property developers a better head start on their new projects. The exemption could generate better sales especially if there is a demand for the apartments by overseas buyers.

We recently assisted the developer of the Jervois and Lawrence Apartments in obtaining an exemption certificate for the apartment development in Herne Bay, granted on 27 June 2019. The Jervois and Lawrence Apartments development is popular offshore and gains significant interest from overseas buyers. The exemption certificate is therefore beneficial to the developer as it could sell up to 60% of the units in its apartment development to interested overseas buyers.

The Jervois and Lawrence Apartments development is one of the first few developers in New Zealand to secure an exemption certificate after passing a series of tests under the Act. Martelli McKegg guided the developer step-by-step throughout the process of the application for the exemption certificate and gave valuable advice on the considerations that the developer should be looking out for and the type of information is required to be provided to the OIO to ensure a successful outcome.

If you are a residential property developer and would like our assistance to apply for an exemption certificate or have any enquiries regarding the exemption under the Act, please contact Melissa Clark, Steven Lee or Genelle Seah. We have Mandarin and Cantonese speaking lawyers who can advise in these languages in relation to overseas investments.

近期对2005年海外投资法（法案）所做的修改意味着，通常不在新西兰居住的海外人士将无法在新西兰购置住宅物业，除非豁免权适用。

政府对该法案进行修改的目的是向新西兰买家提供更加可负担的房价，在此目标的指引下，任何递交至海外投资办公室的豁免权申请，都将会被严格地评估。

根据该法案，民用物业开发商有机会申请豁免证书，使其能够将一定比例的开发项目出售给海外买家。开发项目必须是至少有20个公寓的多层公寓。没有豁免证书，是不允许向海外买家出售住宅公寓的。

民用住宅房地产开发商可以申请豁免权，由此他们可向海外买家售出公寓项目中最高至60%的新建公寓。豁免证书可能受如下条件限制，但不仅限于如下条件：

-          海外买家必须在新建公寓完工前进行购买

-          海外买家不能占用公寓

-          开发商有义务向海外投资办公室上报，在销售中获取的海外买家信息。

向更广泛买家出售的能力为民用物业开发商提供了更加有利的项目开端。豁免权可以激发更好的销售，特别是如果海外买家有购买公寓的需求。

最近，我们协助开发商Jervois and Lawrence Apartments，为其在Herne Bay的公寓项目获得了一份豁免证书，授予时间是2019年6月27日。The Jervois and Lawrence Apartments开发项目在海外非常受欢迎，并且引起了海外买家的极大兴趣。因此，豁免证书给开发商带来了极大的优势，它允许开发商向海外感兴趣的买家出售其公寓项目中高达60%的单位。

The Jervois and Lawrence Apartment开发项目是新西兰目前为数不多的，首批通过法案重重审核，获得豁免证书的开发商之一。Martelli McKegg在整个申请豁免证书的过程中，一步步的指导开发商，并就开发商在申请时应注意的事项，以及需要向海外投资办公室所提交的信息类型提供了宝贵的建议，确保了成功的结果。

如果您是民用住宅开发商，并且您需要我们协助申请豁免证书，或任何有关法案中豁免权的咨询，请与Melissa Clark, Steven Lee 或者Genelle Seah联系。我们有可以讲普通话和广东话的律师，用您的语言为您提供海外投资方面的建议。