The Overseas Investment Office (OIO) categorises applications it receives for consent under the Overseas Investment Act 2005 into one of three categories according to the time required to assess them. Following the completion of a recent review, the OIO has updated its investment categories to more accurately reflect the average time the OIO takes to assess applications. This has resulted in applications for consent to acquire “significant business assets” being moved from Category 1 to Category 2 (under which applications are usually assessed within 50 working days rather than 30 working days for Category 1 applications).

Further details of the updated categories and assessment timeframes are available on Land Information New Zealand’s website here.