A Czech businessman who was given consent to buy about 40,000ha of land near Arthur's Pass must live in New Zealand indefinitely under the terms of his application.
The decision released this week approved the sale of Mt White Station, a high-country sheep and beef farm which includes 39,337ha of Crown pastoral lease and 678ha of freehold land in Bealey.
Czech Republic-born businessman Lukas Travnicek is a New Zealand permanent resident, but his company Southern Ranges Ltd required Overseas Investment Office (OIO) approval for the purchase because Travnicek returned temporarily to the Czech Republic in May last year.
This meant Travnicek was not currently, ordinarily resident in New Zealand and was considered an overseas person under the Overseas Investment Act.
The Commissioner of Crown Lands has also given consent to transfer Mt White Station's Crown pastoral lease to Southern Ranges.