Certainty of Property Rights: Encouraging Overseas Investment in New Zealand

What will we do & why is this important?

New Zealand’s overseas investment screening regime influences the attractiveness of New Zealand as an investment destination. In the current economic climate, capital is particularly important and New Zealand needs to ensure the screening regime does not unnecessarily deter or prevent overseas investment. LINZ will work with the Minister of Finance, the Minister for Land Information, and The Treasury to review the overseas investment framework to create a screening regime that promotes and encourages the flow of investment into New Zealand, while addressing valid concerns about foreign investment.

Specific activities to consider in the review include:

• how the purpose of the Act could be restated to better reflect the importance of foreign investment to New Zealand’s economic growth
• how the screening thresholds for sensitive land and significant business assets can be adjusted to ensure they promote the flow of investment into New Zealand
• how the type and scope of land defined as sensitive land can be refined so that only land of particular significance or importance to New Zealand is screened, and
• how the criteria for consent and factors for determining benefit to New Zealand can be altered to avoid deterring valuable investments and to minimise compliance costs.

What impact will this initiative have?

This initiative and its associated activities are intended to improve the design and implementation of the current screening regime to ensure:

• it provides clarity, certainty and predictability for investors
• it targets relevant concerns about foreign investments, and
• efficient processing of investment applications.