Foreign Company directly purchasing property in NZ

[absoluteproperty]

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.

[Anthonyacat]

I'm not a lawyer and have no experience in this, but logically of course a foreign entity can buy here.

I'm sure many multinational companies own their own business premises. I see no difference here.

[absoluteproperty]

Thank you Anthonyacat, yes I have seen foreign businesses operating here widely also but they have always had a registered subsidiary here. I have never seen a foreign entity operating here using their foreign incorporation title (e.g. this company has bought the property under the name xxx pty ltd).

[Damap]

Yes they can. No barrier to foreign ownership here on residential. Well there wasn't till October 1 2015.