Overseas Investment
The Wyuna Preserve Residents Association Incorporated has been approved by the Overseas Investment Office. In summary:
- Each Preserve lot falls under the critical 5 hectare threshold for non-urban land.
- The society owns 83.6299 hectares of non-urban land.
- An exemption has been granted permitting the society to have up to 100% overseas membership.
- An exemption has been granted for each Preserve lot owner to become a member of the society and hence acquire an interest in the society's land.
Therefore an overseas person who is acquiring any one of the Preserve lots does not require OIO consent either to acquire the lot or to become a member of the society.
- Each Preserve lot falls under the critical 5 hectare threshold for non-urban land.
- The society owns 83.6299 hectares of non-urban land.
- An exemption has been granted permitting the society to have up to 100% overseas membership.
- An exemption has been granted for each Preserve lot owner to become a member of the society and hence acquire an interest in the society's land.
