Overseas investor fined for leasing land without approval
The 20-year lease term well exceeded the three-year threshold for overseas investors.
Andrew Bevin
Wed, 28 Apr 2021
Hot Topic
Hawke’s Bay
An investor has been hit with a $64,000 penalty for leasing sensitive land without seeking consent from the Overseas Investment Office.
The penalty was made up of a $49,000 fine and $15,000 in costs.
In 2014, overseas investor Bin Zhao agreed to buy 20.5 hectares of land in Coatesville,
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Andrew Bevin
Wed, 28 Apr 2021
Contact the Writer: andrew@nbr.co.nz
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Overseas investor fined for leasing land without approval
Property,
87171