Overseas Investment Act 2005

Consent and conditions regime - When consent required and criteria for consent - Criteria for consent

15: Who are relevant overseas persons, and individuals with control, for overseas investments

You could also call this:

"Who's in charge when people from overseas invest in New Zealand?"

When you make an overseas investment, the Minister needs to know who is involved. They want to know who the relevant overseas person is, which could be you if you are making the investment, or someone who is helping you with it. The Minister also wants to know if you have any associates who are involved in the investment.

The Minister also needs to know who has control over the relevant overseas person. This could be someone who owns more than 25% of the investment, or someone who is on the governing body of the company making the investment. It could also be someone who the Minister thinks has control over the investment, even if it is not directly.

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Part 2Consent and conditions regime
When consent required and criteria for consent: Criteria for consent

15Who are relevant overseas persons, and individuals with control, for overseas investments

  1. The relevant Minister or Ministers may determine which 1 or more of the following persons is the relevant overseas person for an overseas investment:

  2. the person making the overseas investment (A), whether A is an overseas person or an associate of an overseas person:
    1. any associate of A in relation to the overseas investment.
      1. The relevant Minister or Ministers may determine which 1 or more of the following categories of persons are the individuals with control of the relevant overseas person for an overseas investment:

      2. the individual or individuals who each have a more than 25% ownership or control interest in the relevant overseas person:
        1. the member or members of the governing body of the relevant overseas person:
          1. the individual or body of individuals who the Minister or Ministers consider to have that control (whether directly or indirectly).
            Notes
            • Section 15(2)(a): amended, on , by section 11 of the Overseas Investment (Urgent Measures) Amendment Act 2020 (2020 No 21).