Assessment timeframes will be different for different applications. We’ll tell you how long we expect to take to assess your application.
After we have triaged your application we will tell you how long we expect it to take to assess your application.
The timeframe will only include the number of working days that we expect the application to be under active consideration by the OIO. It excludes days where:
- We are waiting for you to provide further information; or
- We are consulting with a third party about the application; or
- Our recommendation is with Ministers for decision.
The most effective way for you to get your application assessed as quickly as possible is to use our Application templates to give us all the information we ask for, in the order we ask for it, and to answer our questions promptly.
As we assess your application, we may decide that it will take more time than we originally expected. If this happens we will notify you as soon as possible of the change in the timeframe.
It is your responsibility to ensure that:
- Any relevant commercial agreement(s ) allows enough time for the OIO to assess the application; and
- The application is lodged in a timely manner.
We do not give priority to individual applications except in exceptional circumstances, eg. to accommodate other statutory timeframes such as those under the Takeovers Code.
Any request for urgency must:
- Address whether the application was submitted promptly after the need for consent was identified; and
- Provide confirmation that you will keep the OIO updated on commercial deadlines that relate to the investment and the need for urgency (if the urgency falls away you must tell us immediately); and
- Acknowledge that the OIO may shorten the usual timeframe for you to respond to information requests and the application may be deprioritised if these timeframes are not complied with.
We may lapse your application if you do not provide requested information in a timely manner.
Our requests for further information will normally include a date by which you should provide the information.
If no specific date is indicated we expect the information to be provided within 10 working days.
If you are unable to provide the requested information within the relevant timeframe, you must organise a time extension with us before the timeframe expires.
If you don’t provide the information within the relevant timeframe we may lapse the application on the basis that insufficient information has been provided to meet the consent criteria. We will normally give you a warning before this occurs.
Where an application has been lapsed on this basis you will need to re-apply and pay a new application fee if you wish to continue with the proposed investment.
Statement of Performance Expectations (SPEs) are generally announced together with Budget announcements. During Budget 2018 announcements the Overseas Investment Amendment Bill 2018 was still progressing through the legislative process and some provisions were still being developed. It was agreed that the following SPEs be published by the date of commencement, 22 October 2018.
The SPE’s for ‘Administering the Residential Property Regime’ are - Applications for consent for a house to live in decided within 10 working days – excluding non-individual applicants (budget standard 90%).
Other applications for consent decided within 50 working days – including Forestry, New Build, Non-Residential consents for a house to live in where there is sensitive land and / or the applicant is a non individual; but excluding standing consents (budget standard 90%).