Overseas investment decision for case 200710058 - Gaitens, A.F.M.

To acquire:

1. an interest in land which, either alone or together with any associated land, exceeds 0.4 hectares and adjoins any scientific, scenic, historic, or nature reserve under the Reserves Act 1977 that is administered by the Department of Conservation and that exceeds 0.4 hectares in area; and
2. an interest in land which, either alone or together with any associated land, exceeds 0.4 hectares and adjoins land held for conservation purposes under the Conservation Act 1987 (if that conservation land exceeds 0.4 hectares in area); and
3. an interest in land which, either alone or together with any associated land, exceeds 0.4 hectares and adjoins land that is listed, or in a class listed, as a reserve, a public park, or other sensitive area by the regulator under section 37.

The application has been approved as it met the criteria.

The Overseas Investment Office is satisfied that the Applicant has business experience and acumen relevant to and is demonstrating financial commitment towards the investment. The Overseas Investment Office is further satisfied that the Applicant is of good character and not the kind of persons referred to in section 7(1) of the Immigration Act 1987.

Background
The Applicant is intending to establish a business in New Zealand and reside in New Zealand indefinitely. An application for a New Zealand Long Term Business Visa has been lodged with the New Zealand Immigration Service. The applicant proposes to acquire the subject property as a permanent residence. The Applicant is demonstrating a commitment to New Zealand through applying for and taking up New Zealand permanent residency.