Open for Business: Removing the barriers to foreign investment is the third report released by The New Zealand Initiative on foreign direct investment.
This final report in The New Zealand Initiative’s series on global financial links has found that New Zealand has an overly restrictive regulatory structure on inward capital flows, particularly relating to land. It recommends:
- Embracing foreign investors, rather than driving them away. This will create a reciprocal investment environment, create jobs and increase tax revenue.
- Reforming company and top personal tax rates to market New Zealand as a desirable investment location.
- Eliminating red-tape to foreign investment such as screening requirements, broad definitions of sensitive land, the need for a commercial acumen, ongoing financial commitment, or residency.
- Amending the Overseas Investment Act 2005 to include the gains of FDI as a national benefit.