Treasury Adds New Zealand to CFIUS Excepted State List
The Treasury Department earlier this month added New Zealand to its list of excepted foreign states that benefit from certain exemptions to the Committee on Foreign Investment in the U.S. process. New Zealand, along with the U.K., will have until…
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February 2023 to meet certain foreign investment criteria and cement its position as an excepted foreign state. Treasury announced this month that Australia and Canada had met that criteria and will remain eligible for the provision, which provides certain foreign countries exemptions to the CFIUS process, sometimes allowing them to skip CFIUS clearance altogether (see 2201050039 and 2109030039). New Zealand qualifies as an excepted foreign state because of its intelligence-sharing relationship with the U.S., “among other factors,” Treasury said Jan. 5. The agency also pointed to New Zealand’s “collective defense arrangement and cooperation” with the U.S.