5 ms·

I don't know anything about the situation over there but did they really ban it? For example this bloomberg report talks about foreign ownership via holding com

• Mandatum 5y ago
  Yeah all you need now is an IRD number, a NZ bank account or a corporation. All 3 you can setup without setting foot in the country. To those that say that's not possible, it very much is. There's little checks and balances, and COVID's made it even easier. It's lip service and the government does nothing to help track it. The most investigative journalism that's gone into it was a few years where people tried to look up owners of holding companies and based the research on people's last names. You can imagine how well that last bit went down in the media. Well, our trust privacy laws are very strict - so it's near impossible to tell who actually owns the companies if it's director is fronted by a corporate holding firm. These are used to protect property in the event of bankruptcies and debts, but can also be used to hide your residency.
  • thevagrant 5y ago
    Not only that but it is easy to have people who front the purchases on behalf of foreigners. Only have to look at some of the recent OIO cases and news to see that this is exactly what is happening. Govt is a decade behind the ball and not sure they'll ever want to fix it (no matter who you vote for).