Should overseas businesses be able to buy New Zealand farms or farmland?
The prospect of a Chinese owned New Zealand registered company becoming owners of the Crafar farms, as a result of the liquidation of the Crafar farming enterprise, gave rise to a great deal of discussion about foreign ownership of New Zealand land generally and farms or farmland specifically. In the present case the question was whether a Chinese owned New Zealand registered company should be permitted to buy the Crafar farms. The Overseas Investment Office has not yet decided the question. We decided to find out what New Zealanders thought of our farms being sold to overseas owned businesses, a slightly different proposition to land being sold to non-New Zealanders living overseas. In both cases approval by the Overseas Investment Office is required. And, of course, there are no restrictions on non-New Zealanders with permanent residence in New Zealand buying farms or making other types of investment in New Zealand. Some 41 percent of respondents agreed that overseas owned businesses
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