About the Overseas Investment Act
The Overseas Investment Act 2005 (the Act) came into force on 25 August 2005. The Minister of Finance is responsible for the Act, and Treasury is responsible for policy advice relating to this Act. The Minister of Finance has designated the Chief Executive of Toitū Te Whenua Land Information New Zealand (LINZ) as the regulator.
The Act and the Overseas Investment Regulations 2005 have been amended as follows:
- On 24 November 2021, the second changes brought about by the Overseas Investment Amendment Act 2021 came into effect including changes to the benefit test.
- On 5 July 2021, the first changes brought about by the Overseas Investment Amendment Act 2021 came into effect.
- On 7 June 2021, the emergency notification regime (ENR) was replaced by the more targeted national security and public order (NSPO) notification regime. Notifications under ENR are still required for transactions entered into before 7 June 2021.
- In June 2020, the Overseas Investment (Urgent Measures) Amendment Act 2020 and Overseas Investment Amendment Regulations 2020 came into force.
- In 2018, the Overseas Investment Amendment Act 2018 and the Overseas Investment Amendment Regulations 2018 came into force.
The overseas investment rules can be found in:
- Overseas Investment Act 2005
- Overseas Investment (Urgent Measures) Amendment Act 2020
- Overseas Investment Amendment Act 2021
- Overseas Investment Regulations 2005
- Sections 56 to 57J of the Fisheries Act 1996
Ministers and legislation
Find out more about overseas investment legislation, ministers and delegated powers.
Beehive
Legislation New Zealand
New Zealand Gazette
Official newspaper of the New Zealand government.
Ministerial directive letter
The ministerial directive letter, and supplementary directive letters, contain information on the government’s general policy approach and other matters, including relating to LINZ’s functions, powers, and duties as regulator.
The current ministerial directive letter was issued on 24 November 2021.
A supplementary directive letter relating to ‘build-to-rent’ assets was issued on 4 April 2024.
Delegated powers
The relevant ministers have delegated all consent, variation and exemption decisions to LINZ. However, ministers have the discretion to ‘call in’ a delegated decision and make it themselves.
National interest assessments and decisions on notifications under the National Security and Public Regime that have been called in for further assessment are made by the Minister of Finance.
The ministerial delegation letter contains information about the functions and powers under the Act and the Regulations that have been delegated to the Chief Executive of LINZ.
| Type | Relevant Minister(s) | Delegation |
|---|---|---|
| Sensitive land applications | Minister of Finance and Minister for Land Information | All consent decisions delegated in the first instance. |
| Significant business assets applications (not including sensitive land) | Associate Minister of Finance | All consent decisions delegated in the first instance. |
| Fishing quota applications | Minister of Finance and Minister of Oceans and Fisheries | All consent decisions delegated in the first instance. |
| National interest assessments | Minister of Finance | The Minister decides all national interest assessments. |
| NSPO regime | Minister of Finance | The Minister makes decisions on notifications that have been called in under the National Security and Public Order regime for further assessment. |
Previous letters
The letters listed below have been superseded but contain information about the functions and powers under the Act and the Regulations that have been delegated to LINZ.