Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 


Foreign direct investment in New Zealand farm land

MSI Global Alliance

Media Release: 26/06/14

Foreign direct investment in New Zealand farm land

By Michael Woodward, Mackay Bailey, Accountants, Christchurch

With current favourable commodity prices and global food security issues there is strong interest from foreign investors purchasing an interest in New Zealand farm land. This is particularly prevalent with dairy farms which New Zealand is well known for. In addition, we are seeing interest in pastoral grazing properties for sheep, cattle and deer as well as cropping farms.

Foreign nationals or corporates are able to directly invest in New Zealand farm land. Purchases of land in excess of 5ha or sensitive land generally require consent. Consents are considered by the Overseas Investment Office. In assessing consents, the OIO primarily considers whether the intended purchaser is of good character, is experienced in farming and the purchase will create an enduring benefit for New Zealand. Professional advice early on in the OIO process can ensure the successful granting of a consent.

At Mackay Bailey, we recently assisted investors from the United States with the purchase of a large sheep, cattle and deer grazing property. Advice included choosing the appropriate investment entity, advising on the tax implications of the investment, accounting support, payroll and even delivering employment contracts to on-farm staff on the day of takeover.

Looking to invest? Seek out an advisor who has relationships with other rural professionals including, estate agents and farm advisors, to help form a group of professionals to support your investment in New Zealand farm land.


© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Future Brighter Money: RBNZ Releases New Bank Note Designs

New Zealand’s banknotes are getting brighter and better, with the Reserve Bank today unveiling more vibrant and secure banknote designs which will progressively enter circulation later next year. More>>

ALSO:

Commerce: Supermarket Inquiry Finds No Breaches By Countdown

The Commerce Commission inquiry into anti-competitive behaviour by Countdown supermarkets, alleged by former Labour Party MP Shane Jones, has found nothing to warrant prosecution, although it warns supermarkets to take care in the way they communicate... More>>

ALSO:

Crown Accounts: English Flags ‘Challenge’ To Budget Surplus

Finance Minister Bill English is warning next month’s half yearly fiscal and economic update from the Treasury may not forecast a budget surplus, saying that returning the government’s accounts to surplus in 2015 will be “a challenge”, given the decline in commodity prices and weak global inflation. More>>

ALSO:

March 2015: Netflix To Launch In Australia And New Zealand

World’s Leading Internet Television Network to Offer Original Series, Movies, Documentaries, Stand-Up Comedy Specials and TV Shows for Low Monthly Price More>>

ALSO:

Price Of Cheese (Is Up): Dairy Product Prices Fall To Five-Year Low

Dairy product prices fell in the latest GlobalDairyTrade auction to the lowest level in more than five years, led by declines in rennet casein and skim milk powder. More>>

ALSO:

Gordon Campbell: On The Australians Scoring Trade Points Against Us With The Chinese

It hasn’t been a great year for Trade Minister Tim Groser... To top it off, Australia has just signed a FTA with China that has far better provisions on dairy exports than what New Zealand currently enjoys in our own FTA with China. More>>

ALSO:

Iwi & Local Consultation: Oil And Gas Block Offer 2015 Begins

Energy and Resources Minister Simon Bridges today announced the start of the Block Offer 2015 process for awarding oil and gas exploration permits. More>>

Industrial Action: Stats NZ Throwing Public Money Away Duplicating Data

The Public Service Association (PSA) says Statistics NZ are throwing money away by collecting the same data twice for official statistics such as the Consumer Price Index... As part of the ongoing industrial action, field interviewers who are PSA members are continuing to collect data, but are not sending it through to Statistics NZ. More>>

ALSO:

Other Stats:

Space: Rosetta's 'Philae' Makes Historic First Landing On A Comet

After more than a decade traveling through space, a robotic lander built by the European Space Agency has made the first-ever soft landing of a spacecraft on a comet. More>>

ALSO:

Get More From Scoop

 
 
Standards New Zealand

Standards New Zealand
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news