Decision Consent granted
Section 12(a) Overseas Investment Act 2005
Decision makerOverseas Investment Office
Decision date9 October 2018
InvestmentAn overseas investment in sensitive land, being the Applicant's acquisition of a freehold interest in 10.0000 hectares of land at Downs Road, Geraldine.
Consideration$425,000
ApplicantSunshine Glory New Zealand Limited
Xiao Li, China (99.0%)
Qiming Sheng, China (1.0%)
VendorWilliam Paul Fitzsimons and Angela Mary Veale
New Zealand (100%)
Background

Xiao Li and Qiming Sheng are current resident visa holders and they have satisfied the OIO that they intend to reside in New Zealand indefinitely.

Overseas persons intending to reside in New Zealand indefinitely are not required to show that their investment in sensitive land is likely to benefit New Zealand. This supports migrants in the process of moving to New Zealand to make New Zealand their home.

More informationRoyal Reed
Prestige Lawyers
PO Box 305-379
AUCKLAND