Overseas Investment Office


Overseas Investment Office
Overseas Investment Office
Agency overview
Jurisdiction New Zealand
Headquarters Lambton House, 160 Lambton Quay, Wellington
41°16′53″S 174°46′33″E / 41.281299°S 174.775862°E / -41.281299; 174.775862
Minister responsible Maurice Williamson , Minister for Land Information
Parent agency Land Information New Zealand
Website
http://www.linz.govt.nz/overseas-investment/

The Overseas Investment Office is the New Zealand government agency responsible for regulating foreign direct investment into New Zealand.

Contents

Overview

The Office is responsible for high value investments (2006: NZD $100m+), investments in sensitive land and investments in fishing quota. The Office is part of Land Information New Zealand, the New Zealand Government Agency responsible for survey, land valuation, land titles and mapping. This link recognises that the majority of the Office's work relates to the control of sensitive land. The Office replaces an earlier agency called the Overseas Investment Commission.

Analysis

In 2005, the Overseas Investment Commission (OIC) and its replacement, the Overseas Investment Office (OIO), approved foreign investment totalling $14.3 billion, which was well above the average of $8.8 billion for the previous decade. All but about $3 billion was sales from one overseas company to another.

Criticism

The agency has been accused by groups like the Campaign Against Foreign Control of Aotearoa as being a 'rubber-stamping' body doing nothing against increasing foreign control over New Zealand assets.[1]

References

  1. ^ Gay, Edward (1 November 2007). "US buyer snaps up Coromandel jewel". The New Zealand Herald. http://www.nzherald.co.nz/nz/news/article.cfm?c_id=1&objectid=10473472. Retrieved 1 November 2011. 

External links



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