Tighter overseas investment regime to target more than houses

Tue, 21 Nov 2017

By Pattrick Smellie Nov. 20 (BusinessDesk) - The government has begun policy work to tighten up further the sale of New Zealand assets to foreign investors, with new instructions to the Overseas Investment Office required to give effect to any new rules. The extent of the moves are not known in detail but appear likely to go well beyond the announced creation of an effective ban on the sale of existing homes to non-resident foreign purchasers. Rural land sales are most likely to be subject to tighter criteria, although it remains uncle...

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