29 November 2017
Associate Finance Minister David Parker and Minister for Land Information Eugenie Sage announced today that the Government has issued a new Directive Letter to the Overseas Investment Office.
The Directive Letter directs the Overseas Investment Office (OIO) on the Government’s policy approach to overseas investment in sensitive New Zealand assets and the relative importance of benefit factors for different types of overseas investment, as well as other matters.
The new Directive Letter will come into force on 15 December 2017 and will apply to all applications currently being assessed by the OIO and any new applications received.
The OIO will be reviewing all current applications as soon as possible against the new directive letter to determine which applications are affected. The OIO will contact applicant’s advisors if their application is affected.
The OIO webpages are currently being updated to reflect the new Ministerial Directive Letter.
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