Decision Summary - Pitts (Kenneth John and Audrey Josephine) of United Kingdom

The application has been approved as it met the criteria.

The Overseas Investment Office is satisfied that the Applicants have business experience and acumen relevant to and are demonstrating financial commitment towards the investment. The Overseas Investment Office is further satisfied that the Applicants are of good character and not the kind of persons referred to in section 7(1) of the Immigration Act 1987 and that the Applicants are intending to reside in New Zealand indefinitely.

Background:
Mr Pitts, in conjunction with Mrs Pitts and their son Toby, have been issued with interim nine month Long Term Business Visas (LTBV).

Outline of Proposed Development:
The Applicants propose to acquire the land to establish their own home and equestrian business. The business will have a focused approach toward tapping into the cottage industry of polo breeding. The polo horses will be for sale both in New Zealand and internationally for export. Homestay holidays will also be offered to prospective buyers of the polo horses. The remainder of the property will be used for grazing horses as part of the intended polo training facility.
The Applicants have made a commitment to move to New Zealand permanently by placing their home in the United Kingdom on the market and have opened a New Zealand bank account.

Rationale for Proposed Development:
The residence is suited to the Applicants' intended use of a home-stay facility. The Applicants' wish to offer a more complete 'polo experience' comprising trialling polo horses, polo training and playing friendly polo matches.