Raising capital from existing investors and the public can be challenging, particularly when you are facing the numerous requirements of the Financial Markets Authority (FMA) and related financial markets legislation. However, when done properly, the result can be massively successful for all involved. Cavell Leitch recently advised Shopping Centre Investments Limited (SCIL) with their public capital raise. SCIL owns ‘The Hub’ shopping mall in Hornby. The result was phenomenal with SCIL raising their target of nearly $14 million in less than 3 weeks on the market. This was achieved through great insight, planning and performance from the directors and their advisors.
Obtaining that elusive IRD Number – what “offshore persons” dealing with property in New Zealand, and people selling to them, need to know
When buying, selling or transferring New Zealand property, individuals and entities who live overseas (“offshore persons”) need to supply both a New Zealand IRD number and a taxpayer identification number from any other country where they currently have to pay tax.