The Ministers of Land may have to consider whether the investment will, or is likely to, result in both substantial and identifiable benefits to New Zealand. In this regard, consideration will only be given to:
whether the overseas investment will, or is likely to, result in:
the creation of new job opportunities in New Zealand or the retention of existing jobs
in New Zealand that would or might otherwise be lost; or
the introduction into New Zealand of new technology or business skills; or
increased export receipts for New Zealand exporters; or
added market competition, greater efficiency or productivity, or enhanced domestic
services in New Zealand; or
the introduction into New Zealand of additional investment for development purposes; or
increased processing in New Zealand of New Zealand's primary products;
whether there are or will be adequate mechanisms in place for:
protecting or enhancing existing areas of significant indigenous vegetation and
significant habitats of indigenous fauna;
protecting or enhancing existing areas of significant habitat for trout, salmon and
other protected wildlife and providing, protecting or improving walking access to such
habitats for the public; protecting or enhancing historic heritage within the relevant land;
providing, protecting, or improving walking access over the relevant land (or part
thereof); if the relevant land is or includes foreshore, seabed, or a bed of a river or
lake, whether that foreshore, seabed, riverbed or lakebed has been offered to the Crown
in accordance with the relevant regulations; and any other matters as may be prescribed
from time to time in regulations or which the relevant overseeing ministers, having regard
to the circumstances of the particular overseas investment, think fit.

Torrens land registration system
New Zealand operates under the Torrens land registration system where each parcel of land generally has its own title which records dimensions and ownership. The New Zealand government guarantees the accuracy of titles, which can be searched by the public for a small fee.

Contracts for the sale and purchase of land
Under New Zealand law, a contract for the sale of any land must be in writing signed by the parties involved in order to be legally enforceable under law.

Resource Management Act 1991
The Resource Management Act 1991 has combined the laws relating to the use of New Zealand's natural resources such as land, water, minerals, coastline and air. The preamble to the Act states that it is to promote the "sustainable management of physical and natural resources". As such, any new major development relating to industrial property, for instance, must give careful consideration to the legislation and will require a number of consents before it will be permitted to proceed. Each investment proposal will, therefore, need to be separately considered in the light of this legislation, applicable regional and district plans, and specialist legal and related expert advice.

Building Act 2004
All buildings are regulated and controlled by the application of the Building Act 2004. Every new building must comply with a requisite building code to ensure safe habita-tion and accessibility.

Land claims
Other than the requirement to seek consent under the OI Act and OI Regulations, it is to be noted that certain lands within New Zealand are subject to current claims by New Zealand's indigenous Maori peoples under the Treaty of Waitangi Act 1975. Privately owned land is not subject to return to Maori ownership unless it has been tagged. Any such tag would be shown on the title to the land itself and would, upon the requisite search, be made clear to any potential purchaser.

For further information, please contact us »