Overseas Investment Office: Difference between revisions
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Revision as of 00:44, 14 March 2013
| Agency overview | |
|---|---|
| Jurisdiction | New Zealand |
| Headquarters | Radio New Zealand House, 155 The Terrace, Wellington 41°16′53″S 174°46′33″E / 41.281299°S 174.775862°E |
| Minister responsible |
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| 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.
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
- ^ Gay, Edward (1 November 2007). "US buyer snaps up Coromandel jewel". The New Zealand Herald. Retrieved 1 November 2011.
External links