Hi all,
I have not seen this before, but wonder if it is common for a foreign (Australian) business to purchase property (residential) directly in NZ, though the business is not registered as a legal entity in NZ. I have done a 30 minute google session, I cannot find any information on this business operating in NZ with exception to the ownership of this property, though it is a registered Australian Business with an ABN. I also cannot find any documentation which would enable a foreign entity which was not a natural person to purchase a property under the foreign entity name - and guess it would have implications in courts as bankruptcy abroad would not be recognized in an NZ court.
The reason I wonder, I am looking to track down the shareholders of this business but the Australian system is a bit more difficult to get shareholder information. I also wonder how many times I may encounter this in the future, when attempting to locate owners of properties I wish to interact with for any reason.
Your advice/experience is welcome.
I have not seen this before, but wonder if it is common for a foreign (Australian) business to purchase property (residential) directly in NZ, though the business is not registered as a legal entity in NZ. I have done a 30 minute google session, I cannot find any information on this business operating in NZ with exception to the ownership of this property, though it is a registered Australian Business with an ABN. I also cannot find any documentation which would enable a foreign entity which was not a natural person to purchase a property under the foreign entity name - and guess it would have implications in courts as bankruptcy abroad would not be recognized in an NZ court.
The reason I wonder, I am looking to track down the shareholders of this business but the Australian system is a bit more difficult to get shareholder information. I also wonder how many times I may encounter this in the future, when attempting to locate owners of properties I wish to interact with for any reason.
Your advice/experience is welcome.
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