Navigating the Overseas Investment Act:
The Role of Sensitive Land Certificates
Wednesday, 22 January 2025
The Overseas Investment Act 2005 presents significant complexities for property transactions involving overseas persons in New Zealand. This article explores how sensitive land certificates can streamline the process and minimise the risk of a misstep.
The Challenge of the Overseas Investment Act:
The Act regulates the acquisition of New Zealand land by overseas persons, with strict criteria for different types of land. Determining whether a property falls under the Act's "sensitive land" category requires in-depth knowledge of the Act and application of its assessment criteria. The process can be a time-consuming and challenging task if not undertaken regularly.
Recent Case in Point:
The recent $30,000 fine imposed on Resturant Brands Properties Ltd for failing to obtain Overseas Investment Office (OIO) approval for the purchase of sensitive land serves as a reminder of the importance of a sensitive land certificate forming part of a purchasers due diligence. This case underscores the potential legal and financial consequences of non-compliance with the Act, both for purchasers and legal professionals.
Introducing Sensitive Land Certificates:
Our company provides sensitive land certificates to property owners, prospective purchasers and their legal advisors, offering a clear and concise assessment of whether a specific piece of land is considered "sensitive" under the Overseas Investment Act.
Our Expertise:
Our experienced LINZ Accredited Suppliers have undergone comprehensive training from OIO staff, ensuring we have the latest knowledge and understanding of the Act and its application.
Learn More About Our Services:
We are committed to collaborating with legal professionals, owners and prospective purchasers to ensure compliance with the Overseas Investment Act. Contact us today to learn more about our sensitive land certificate services and discuss how we can assist you.
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