Controversial changes to the rules governing overseas investment will soon take effect after being passed by Parliament this week. Businesses now need to consider how to best work with the new rules. Andrew Petersen and Glenn Shewan from Bell Gully take a look how the new regime may affect commercial transactions.
The Government has carved Singapore out of its foreign buyers ban, in a move that will ease strained relations between the two countries. Sam Sachdeva reports.
Foreign buyers will still be able to buy homes in New Zealand, if recommendations by the Finance and Expenditure select committee are adopted.
The new Labour-led Government's first decision was to announce plans to amend the Overseas Investment Act (OIA) to classify residential housing as "sensitive", which will effectively ban non-resident foreigners from buying existing homes without breaching major trade agreements.