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Information release

Phase 2 Overseas Investment Act Reform Information Release

Issue date: 
Monday, 6 July 2020
Status: 
Current
Version note: 

This page was originally issued (published) in July 2019 but new material has been added subsequently.

Corporate author: 
View point: 

On 14 May 2020 the Government introduced legislation to amend the Overseas Investment Act 2005 as part of the Phase Two Reform of the Overseas Investment Act, and in response to the COVID-19 pandemic.

The reforms aim to better ensure that investments by overseas persons are consistent with New Zealand's national interest.

These reforms, led by the Treasury, built on the Overseas Investment Amendment Act 2018, which introduced a new screening regime for foreign buyers seeking to acquire an interest in residential land, as well as measures to encourage foreign investment in the forestry sector.

Two Bills were introduced in the House of Representative on 14 May 2020. These are available on the Legislation website:

  • Overseas Investment (Urgent Measures) Amendment Bill -  This Bill contains measures which the Government considers need to be put in place urgently to mitigate the economic effects of COVID-19. Its purpose is to ensure that risks posed by foreign investment can be managed effectively while better supporting productive overseas investment by reducing the regulatory burden of the screening process. 
  • Overseas Investment Amendment Bill (No 3) - This Bill contains other measures from the Phase two reform of the Overseas Investment Act 2005 which the Government considers do not need to be put in place urgently to mitigate the economic effects of COVID-19. 

Resources have been prepared to provide details of the proposed changes:

Information release material

Material available here includes:

  • Cabinet material and Treasury advice relating to the Phase 2 reform
  • Treasury advice which constitutes the policy development involved in amending the Overseas Investment Act 2005 in response to the COVID-19 pandemic and associated economic downturn.

However material relating specifically to the consultation process and submissions received in 2019 is available at Overseas Investment Act Submissions Information Release.

Phase 2 Overseas Investment Act Reform Material
DateCreatorTitle
26-09-2018 Office of the Associate Minister of Finance
08-04-2019 Office of the Associate Minister of Finance
06-03-2020 The Treasury
06-04-2020 The Treasury
17-04-2020 The Treasury
24-04-2020 The Treasury
01-05-2020 The Treasury
01-05-2020 Office of the Associate Minister of Finance
06-05-2020 Cabinet Office
14-05-2020 The Treasury
15-05-2020 The Treasury
11-06-2020 Office of the Associate Minister of Finance
16-06-2020 Cabinet Office
16-07-2020 Office of the Associate Minister of Finance
21-07-2020 Cabinet Office
14-05-2020 The Treasury
25-05-2020 The Treasury
04-06-2020 The Treasury
04-06-2020 The Treasury
09-06-2020 The Treasury
15-06-2020 The Treasury

Phase 2 Overseas Investment Reform Material, November 2018 – May 2020
DateCreatorTitle
26-05-2020 Office of the Associate Minister of Finance
26-05-2020 Cabinet Office
10-03-2020 The Treasury
04-03-2020 The Treasury
02-03-2020 The Treasury
20-02-2020 The Treasury
30-01-2020 The Treasury
12-12-2019 The Treasury
19-11-2019 The Treasury
14-11-2019 The Treasury
14-11-2019 Inland Revenue Department; The Treasury
12-11-2019 The Treasury
21-10-2019 The Treasury
16-10-2019 The Treasury
10-10-2019 The Treasury
23-09-2019 The Treasury
18-09-2019 The Treasury
09-09-2019 The Treasury
30-08-2019 The Treasury
29-08-2019 The Treasury
27-08-2019 The Treasury
05-08-2019 The Treasury
08-05-2019 The Treasury
12-02-2019 The Treasury
17-12-2018 The Treasury
06-12-2018 The Treasury
26-11-2018 The Treasury
06-11-2018 The Treasury

Last updated: 
Thursday, 1 October 2020