Policy advice relating to the development of the Overseas Investment Amendment Act 2018 that the Treasury provided to Ministers and that has not already been released. Cabinet papers and related documents will be released subsequently.
The Overseas Investment Amendment Act 2018 received the Royal Assent on 22 August 2018 and commenced on 22 October 2018, following a review of the Overseas Investment Act 2005 by Treasury. The 2018 Act amended the Overseas Investment Act 2005 to ensure that investments in New Zealand made by overseas persons have genuine benefits for the country. The amendments introduced greater limitations on the types of property that can be purchased by overseas persons by bringing residential land into the category of "sensitive land" in the Act. The amendments also brought forestry rights and certain other profits à prendre within the scope of the Act's screening regime, and introduced alternative consent pathways for investment in forestry.
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Related information
Document date | Title | Location |
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31-10-2017 | 100 Day Commitment: Banning Overseas Speculators from Buying Existing Houses | Page 32 https://treasury.govt.nz/sites/default/files/2018-03/res-land-release.pdf |
07-11-2017 | Banning Overseas Buyers of Existing Homes: Detailed Design Proposals | Page 79 https://treasury.govt.nz/sites/default/files/2018-03/res-land-release.pdf |
10-11-2017 | Banning Overseas Buyers of Existing Homes: Further Detailed Design Proposals | Page 108 https://treasury.govt.nz/sites/default/files/2018-03/res-land-release.pdf |
17-11-2017 | Banning Overseas Buyers of Existing Homes: Design Details Report #3 | Page 139 https://treasury.govt.nz/sites/default/files/2018-03/res-land-release.pdf |
21-11-2017 | Overseas Investment Act - process for further reform | Page 1 https://treasury.govt.nz/sites/default/files/2018-06/oia-20180132_1.pdf |
24-11-2017 | Draft Cabinet Legislation Committee Paper Banning Overseas Buyers of Existing Homes | Page 155 https://treasury.govt.nz/sites/default/files/2018-03/res-land-release.pdf |
30-11-2017 | Overseas Buyers Ban: Cabinet Legislation Committee Paper for Lodgement | Page 176 https://treasury.govt.nz/sites/default/files/2018-03/res-land-release.pdf |
06-12-2017 | Aide Memoire: Overseas Investment Act 2005 - Infrastructure and Monopoly Rents | Page 24 https://treasury.govt.nz/sites/default/files/2018-06/oia-20180132_1.pdf |
15-12-2017 | Overseas Investment Act 2005 Review - Pre CPTPP Policy Decisions | Page 30 https://treasury.govt.nz/sites/default/files/2018-06/oia-20180132_1.pdf |
19-01-2018 | Treasury Report: Cabinet Paper - Overseas Investment Update and Next Steps | Page 57 https://treasury.govt.nz/sites/default/files/2018-06/oia-20180132_1.pdf |
20-03-2018 | Amendment to the Overseas Investment Act: Forestry land and other profits à prendre | https://treasury.govt.nz/sites/default/files/2018-03/ria-tsy-aoia-mar18.pdf |
21-05-2018 | Supplementary Order Paper No 19 Overseas Investment Amendment Bill | https://www.parliament.nz/resource/en-NZ/52SCFE_ADV_75755_1801/ea87a114326f8c2cd42fa569fe128782d9c73781 |
Related links
- Overseas Investment Office (a unit of Land Information New Zealand)
- Overseas Investment Amendment Bill (New Zealand Parliament website)
- Overseas Investment Act 2005 (New Zealand Legislation website)
-
Phase 2 Overseas Investment Act Reform Information Release (Treasury website)
Contact for enquiries
Bryan McDaniel | Principal Communications AdvisorTel: +64 4 917 6268
Email: [email protected]