On Nov. 11, NZ GVT issued amendments to overseas investment regs.
NZ GVT published Overseas investment (CPTPP—United Kingdom) amendment regulations 2024, amending overseas investment rules for UK investors under the Comprehensive and progressive agreement for trans-Pacific partnership (CPTPP).
Follows NZ GVT May 2023 said NZ-UK FTA will take effect on May 31, 2023, #171595.
Document dated Nov. 11, 2024, received from NZ GVT Nov. 13, summarized Nov. 15.
Amendments
Amendments to Overseas investment regulations 2005 add UK as a CPTPP territory following its accession to the agreement; maintain NZD 200mn monetary threshold.
Applies to UK investors in significant business assets, up from standard NZD 100mn.
Expands definitions of type A enterprise, individual, and territory to include the UK.
Removes previous UK free trade agreement (FTA) exclusions for investments in businesses providing services on behalf of NZ GVT and audiovisual services.
Effectiveness
Amendment regs come into force Dec. 15, 2024, aligning with UK's CPTPP accession date; applies only to acquisitions or business establishments after commencement.
