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

 

ETS Review: Modelling Documents Released

Three technical documents are being released to help New Zealanders engage with the Emissions Trading Scheme (ETS) review, Climate Change Minister Paula Bennett says. More>>

ALSO:

Northland: Govt Plan Targets Transport, Web, Maori Assets

The government has released a 10-year plan to attract investors and lift economic growth in Northland, a region that perennially underperforms the rest of the country even while being endowed with natural beauty, productive land, minerals, a potential workforce, scope for manufacturing, forestry and aquaculture, and proximity to Auckland. More>>

ALSO:

Statistics: Unemployment Rate Falls To 5.3 Percent

The unemployment rate fell to 5.3 percent in the December 2015 quarter (from 6.0 percent), Statistics New Zealand said today. This is the lowest unemployment rate since March 2009. There were 16,000 fewer people unemployed than in the September ... More>>

ALSO:

Employment: Labour Urges Talley’s To End AFFCO Lockout

Labour has urged Talley’s to resolve the ongoing industrial dispute with AFFCO workers which is having a severe effect on the employees, their families and their communities, Labour’s Workplace Relations spokesperson Iain Lees-Galloway says. More>>

ALSO:

Three Kings: Govt To Oppose Appeal Blocking $1.2B Auckland Housing Plan

Environment Minister Nick Smith and Housing New Zealand have joined legal proceedings in support of Auckland Council and Fletcher Building opposing a bid by community groups to only allow low-rise housing in a $1.2 billion housing redevelopment on the disused site of the Three Kings quarry. More>>

ALSO:

Transport: Jetstar Expands Regional Network With Three New Routes

More New Zealanders than ever before will have access to Jetstar’s affordable flights when new services take off today from Auckland to New Plymouth and Palmerston North, and Nelson to Wellington. More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news