Decision Summary - Hemingway (Richard & Michele) of Australia
| Decision number | 200820008 |
|---|---|
| Application number | 200810077 |
| Date | 14 July 2008 |
| Offeror/applicant | Hemingway (Richard & Michele) of Australia |
| Ultimate applicant beneficial ownership | 100 percent - Australia |
| Beneficial overseas ownership | |
| - Asset current | 0 percent |
| - Asset proposed | 100 percent |
| - Share current | N/A |
| - Share proposed | N/A |
| Offeree(s)/seller(s) | Leith, John & Colleen of New Zealand |
| Business activities | Lifestyle Property |
| Details of land involved | 6.8175 hectares of freehold situated at 1044 State Highway 6, Lake Hawea, Central Otago being Certificate of Title 34321 (Otago Registry). |
| Regions involved | Otago |
| Total consideration | $1,280,000 |
| Consent sought | To acquire an interest in land which, either alone or together with any associated land of that type, is or includes non-urban land and exceeds 5 hectares in area. |
| Rationale |
The application has been approved as it met the criteria. The Overseas Investment Office is satisfied that the Applicants collectively have business experience and acumen relevant to the overseas investment, and that the Applicants have demonstrated financial commitment towards the overseas investment. The Overseas Investment Office is further satisfied that the Applicants are of good character and are not individuals of the kind referred to in section 7(1) of the Immigration Act 1987 and the Applicants are intending to reside in New Zealand indefinitely. Background to the Investment: Outline of the Investment: Rationale for the Investment: |
| Contact | Janice Hughes AWS Legal PO Box 50 Wanaka 9343 |
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