DecisionConsent declined
Section 12(a) Overseas Investment Act 2005
Decision date23 July 2011
InvestmentAn overseas investment in sensitive land, being the Applicant's acquisition of a freehold interest in 2.1601 hectares of land at 5H The Prom, Coatesville, Albany.
ConsiderationCONFIDENTIAL
ApplicantMegastuff Limited
Kim Dotcom, Hong Kong (SAR) (100.0%)
VendorBenjamin Thomas De Haan and Tamara Jill De Haan
United Kingdom (100%)
Background

Mr Dotcom, the sole shareholder of the Applicant, and his family have been granted New Zealand residence visas but do not intend to reside indefinitely in New Zealand.

The overseas investment transaction has not satisfied all the criteria in section 16 of the Overseas Investment Act 2005.

More informationGreg B Towers
Simpson Grierson
Private Bag 92518
Wellesley Street
AUCKLAND