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

 

Cosmetics & Pollution: Proposal To Ban Microbeads

Cosmetic products containing microbeads will be banned under a proposal announced by the Minister for the Environment today. Marine scientists have been advocating for a ban on the microplastics, which have been found to quickly enter waterways and harm marine life. More>>

ALSO:

NIWA: 2016 New Zealand’s Warmest Year On Record

Annual temperatures were above average (0.51°C to 1.20°C above the annual average) throughout the country, with very few locations observing near average temperatures (within 0.5°C of the annual average) or lower. The year 2016 was the warmest on record for New Zealand, based on NIWA’s seven-station series which begins in 1909. More>>

ALSO:

Farewell 2016: NZ Economy Flies Through 2016's Political Curveballs

Dec. 23 (BusinessDesk) - New Zealand's economy batted away some curly political curveballs of 2016 to end the year on a high note, with its twin planks of a booming construction sector and rampant tourism soon to be joined by a resurgent dairy industry. More>>

ALSO:


NZ Economy: More Growth Than Expected In 3rd Qtr

Dec. 22 (BusinessDesk) - New Zealand's economy grew at a faster pace than expected in the September quarter as a booming construction sector continued to underpin activity, spilling over into related building services, and was bolstered by tourism and transport ... More>>

  • NZ Govt - Solid growth for NZ despite fragile world economy
  • NZ Council of Trade Unions - Government needs to ensure economy raises living standards
  • KiwiRail Goes Deisel: Cans electric trains on partially electrified North Island trunkline

    Dec. 21 (BusinessDesk) – KiwiRail, the state-owned rail and freight operator, said a small fleet of electric trains on New Zealand’s North Island would be phased out over the next two years and replaced with diesel locomotives. More>>

  • KiwiRail - KiwiRail announces fleet decision on North Island line
  • Greens - Ditching electric trains massive step backwards
  • Labour - Bill English turns ‘Think Big’ into ‘Think Backwards’
  • First Union - Train drivers condemn KiwiRail’s return to “dirty diesel”
  • NZ First - KiwiRail Going Backwards for Xmas
  • NIWA: The Year's Top Science Findings

    Since 1972 NIWA has operated a Clean Air Monitoring Station at Baring Head, near Wellington... In June, Baring Head’s carbon dioxide readings officially passed 400 parts per million (ppm), a level last reached more than three million years ago. More>>

    ALSO:

    Get More From Scoop

     
     
     
     
     
     
     
     
    Business
    Search Scoop  
     
     
    Powered by Vodafone
    NZ independent news