NZ Accelerates Overseas Investment Approvals, Boosts Investor Confidence

Seymour highlighted that faster approvals reduce uncertainty for investors, making New Zealand more attractive for overseas capital.

Associate Minister of Finance David Seymour is optimistic about the recent surge in foreign direct investment applications, attributing the increase to improvements in consent processing times. He noted that July and August saw nearly as many applications as the previous six months combined, signaling renewed investor confidence in New Zealand’s economy.

In June 2024, Seymour issued a directive to Land Information New Zealand (LINZ), mandating that 80% of overseas investment applications be processed within half the statutory timeframe, cutting down decision times to between 5 and 50 working days. Prior to this, only 13% of applications met this target. Now, every decision since the directive has been made within the shortened timeframe.

Seymour highlighted that faster approvals reduce uncertainty for investors, making New Zealand more attractive for overseas capital. The changes have been well-received by investors, with improvements noted even in complex cases like variations and exemptions. The government is also planning to rewrite the Overseas Investment Act to further streamline processes.

"Lowering barriers to investment is essential for economic growth," said Seymour. "A more welcoming environment for overseas capital will help us fund world-class public services and strengthen the economy."

Seymour is confident that these reforms will continue to boost foreign direct investment, benefiting New Zealand businesses and ensuring sustainable prosperity for the country.