You are now leaving Centuria New Zealand
and entering Centuria Australia.
Centuria opens unlisted property offers to investors wishing to participate in the ownership of high-value commercial property not normally accessible to individuals. Each offering by Centuria follows a careful study of the risks and returns of the property investment. A primary focus is placed on the quality of the property as the underlying asset of each investment opportunity.
Both new and existing investors can apply for Centuria investments opportunities by completing our online form or alternatively submitting a paper application form (paper application forms can be found at the back of the product disclosure statement for the offer you are applying for). Please be aware that processing times may take longer for paper application forms.
A key part of the application process is completing Customer Due Diligence on the individual or entity applying for the Centuria investment.
All new investors will be subject to Customer Due Diligence before we can finalise the application.
For existing investors, Centuria will only complete Customer Due Diligence if there has been a change to the investor. An example of this would be if you have changed your address or a new trustee had been appointed to your trust.
Once we have completed customer due diligence, we will provide you with payment instructions relevant to your selected payment method.
Due to cheques being phased out in New Zealand, we no longer accept them as a method of payment for our investment opportunities.
Once your funds have been received and cleared into our account, we will confirm this with you via email or letter.
At this stage your application has been approved. Your shares or units will be allocated to you once the settlement date has passed. The expected settlement date is documented in the PDS for the offer you are applying for.
Please note: It can take up to two working days for bank transfers to clear in our account and up to five working days for direct debits to clear. If you have not heard back from us in this timeframe, please contact a member of our team.
After settlement you will receive a Welcome Letter and Holding Statement with confirmation of your new holding and information on your distribution payments.
Centuria Investor is Centuria’s online portal that provides fast 24/7 internet access to view and manage your investments, link holdings, update personal information and apply for a new investment.
If you need to set up a Centuria Investor account, you can register by following these simple steps:
Please record your login details for easy access next time.
The Anti-Money Laundering and Countering Financing of Terrorism Act 2009 requires Centuria NZ to put preventive measures in place to help detect and deter money laundering and terrorism financing.
A key requirement of the AML regime is to conduct customer due diligence on all individuals and entities investing with Centuria NZ. This process involves verifying the identities of the ultimate beneficial owners of an investment, any individuals with effective control of the investor or individuals acting on behalf of the investor. The information required to complete the customer due diligence process will vary depending on the type of investor. In some cases, such as Trusts, additional documentation including evidence of Source of wealth or funds will be required.
Customer due diligence is a mandatory requirement and must be completed before investing with Centuria NZ. Centuria NZ partners with First AML, a specialist service provider, who conduct customer due diligence on Centuria’s behalf. Centuria NZ will instruct First AML to contact investors directly to collect the required information.
Further information regarding the customer due diligence process can be found on this page or if you have any further queries, you can contact Centuria Compliance Team.
When you invest as an individual or joint individual, First AML will collect some information about your identity and address. This information is required by law and is to help keep you safe.
Verifying your identity
First AML will send an email containing a link to their online verification form. The individual will be asked to supply images of their identity documents and confirmation of their current registered address. The details on the document (Name, Date of Birth, Licence/ Passport ID Numbers) and their address are electronically verified against relevant government databases. The individual will be asked to consent before Frist AML use their personal information to conduct electronic verification.
When you invest through a partnership, First AML will collect information about the partnership and verify the identity of some individuals associated with the partnership. These individuals include:
When you invest as a company, First AML will collect information about the company and verify the identity of some individuals associated with the company. These individuals include:
In some cases, depending on the shareholding of the company (e.g. a trust holding the shares), we may need to request information regarding the source of wealth & income of the company.
When you invest as a trust or an estate, First AML will collect information about the trust and verify the identity of some individuals associated with the trust or estate. These individuals include:
Information required to verify the trust:
When you invest as an incorporated society, First AML will collect information about the society and verify the identity of some individuals associated with the society. These individuals include:
In certain circumstances we are required by law to ask about your or your chosen investment entity’s (e.g., Trust, company) source of wealth and/or source of funds.
Source of wealth is an indication of the amount of wealth you or your chosen investment entity has and a picture of how it was acquired over time. Source of funds is more narrowly focused and could relate to a specific transaction like investing $100,000 in a Centuria investment opportunity.
Each investor is different, and First AML will advise which documents can verify the information you provide for Source of Funds or Wealth. Some common examples are listed below:
When First AML is unable to electronically verify an individual, they will revert to acquiring certified copies of Identification and a non-certified copy of an Address document. Documentation must be certified by a Trusted Referee within 3 months of the request date.
Approved Certifiers:
Certification Wording:
First AML will request to the customer that the certification must have the following Information
“I, [Trusted Referee Name], hereby certify that this is a true and correct copy of the original document which I have sighted, and it represents a true likeness of this individual.”
In some cases, if the certification wording is not exact but is not materially different it will be accepted.
Certification overseas
When certification occurs overseas, copies of international identification provided by a customer resident overseas must be certified by a person authorised by law in that country to take statutory declarations or equivalent in the customer’s country.
The Foreign Account Tax Compliance Act (FATCA) is specific United States (US) legislation that aims to reduce tax evasion by US citizens, tax residents and entities. US citizens and tax residents are required to report their worldwide income to the Internal Revenue Service (IRS) whether they live in the US or not.
FATCA is a reporting regime that ensures US persons (and New Zealanders with accounts in the US) meet their tax obligations. It requires all foreign financial institutions that are not exempt, including New Zealand financial institutions (NZFIs), to register with the IRS. They must report on US citizens and tax residents who have specified foreign financial assets that exceed certain thresholds.
New Zealand has entered into a FATCA Intergovernmental Agreement with the United States under which New Zealand financial institutions are required to provide specified identity and financial information about such accounts to Inland Revenue, which will then be provided to the United States under the double tax agreement (DTA) that New Zealand has with the United States.
What is the Common Reporting Standard (CRS)?
The CRS is a global framework for the collection, reporting, and exchange of financial account information about people and entities investing outside of their tax residence jurisdiction.
New Zealand is one of many jurisdictions that has committed to a global initiative led by the Organisation for Economic Co-operation and Development (OECD) on the automatic exchange of financial account information using the CRS.
This information is required by law to be collected by financial institutions around the world for reporting to tax authorities. Tax authorities will exchange this information to ensure everyone pays the right amount of tax. Tax pays for services we all need and to improve the communities in which we live.
What information do I need to provide?
Centuria asks all investors to complete a self-certification declaration confirming your overseas tax residency status. You will find this in our paper and online application form, we may also request this via email or our investor portal.
If you are an overseas tax resident, we will ask you to provide your name, date of birth, address, country of tax residence and your foreign tax number.
Who is responsible for FATCA and CRS in New Zealand?
The Inland Revenue Department (IRD).
When is the reporting deadline to the IRD for FATCA and CRS?
Centuria is required to report to the IRD annually by 31 July.
What can an investor do if they are unsure of their overseas tax residency?
Investors can refer to the IRD website for guidance on FATCA and CRS or contact a tax advisor for further information.
Which type of investors are required to complete FATCA/CRS?
What FATCA/CRS information is required to be completed for Individual and Joint Individual accounts?
We ask all individuals to declare if they are a tax resident of another country other than New Zealand. If they are a tax resident outside of New Zealand we request their name, date of birth, address, country of tax residence and your foreign tax number.
What FATCA/CRS information is required to be collected for partnership, company and trust accounts?
We ask you to declare whether the entity is a tax resident outside of New Zealand. We also ask you to declare if the controlling parties (e.g. trustee, shareholder, partner etc) of the entity are tax residents outside of New Zealand.
Centuria may offer certain investments that are only open to “Wholesale Investors” as defined in clause 3 of Schedule 1 of the Financial Markets Conduct Act 2013. To invest in these offers, a wholesale investor needs to fall within one of the categories listed below. If an offer is only open to wholesale investors, this will be clearly stated on the offer document.
In addition to government agencies, the following persons are considered to be a wholesale investor under the Financial Markets Conduct Act:
Further detail on the above categories is set out below.
A person who is an investment business:
In addition to banks, non-bank deposit takers, licensed insurers, licensed managers, derivatives issuers and financial advisers, this category encompasses entities whose principal business consists of any of the following:
A person who meets the investment activity criteria;
In counting financial products towards the $1 million threshold, bank deposits, bonus bonds, building society investments (and other similar investments) as well as interests in a retirement scheme (e.g. KiwiSaver or other superannuation scheme) cannot be counted. Any products offered by the investor’s associated persons are also excluded.
A person who is large;
As at the last day of the 2 most recently completed financial years, they and their controlled entities had net assets exceeding $5 million; or
A person who is an eligible investor:
Eligible investors are investors who self-certify that:
Their certificate must set out the grounds for the above certification.
In addition, a financial adviser, qualified statutory accountant or lawyer must sign a written confirmation of the above certification. That person must not sign the certificate, unless having considered the investor’s grounds for their certificate:
A person who invests at least NZ$750,000 in the offer.
Property syndication is a direct property investment whereby you become owner of part of a commercial property leased to tenant(s) and receive a proportionate share of the rental income and capital growth. This allows smaller investors to invest in large commercial and industrial properties. The asset is fully managed on behalf of investors with all property management, financial and administrative matters taken care of.
Syndicates are usually passive investments, we do the work but we keep you updated. At a minimum you will receive a Quarterly Report, Annual Report and Managers Letter, be invited to attend an Annual Meeting and be provided with annual tax information.
There is no set timeframe for when an investment opportunity will become available; an opportunity will become available when Centuria has sourced and completed comprehensive due diligence. Once Centuria are satisfied in the quality of the investment they will produce a Product Disclosure Statement (registered with the FMA) and then the property/investment opportunity will be promoted to the market.
Our public offerings via a Product Disclosure Statement are typically industrial or commercial properties that are well located, with a good tenant covenant and a reasonable remaining lease term.
All potential investors must request a copy of the relevant Product Disclosure Statement which contains the details of the property and the investment. Investors must complete and sign the application form located within the Product Disclosure Statement and provide along with payment the applicable identity verification (as required under the Anti-Money Laundering (AML) legislation)
To ensure you get information on all investment opportunities from Centuria please complete your details to be added to the database, link here to the sign up/contact us page. All information on our investment opportunities comes from Bayleys Real Estate Limited.
Each offer has a different minimum investment amount, but most are in the range of $10,000 to $100,000.
Centuria provides access to commercial, industrial and retail investment properties located in both New Zealand and Australia. The majority of Centuria’s New Zealand offers are made available to all potential investors located in New Zealand. At times certain investments are made only to wholesale investors. This is made very clear on the documentation.
Yes. Upon the sale of a property and the winding up of a scheme, investors may receive a return which is greater than the amount paid for each Unit if the net sale proceeds from the sale of the property exceed the total capital paid by investors.
Centuria has successfully operated a Secondary Market facility for over 15 years, utilising our database of thousands of existing investors to facilitate sales of units and shares on behalf of those who may wish to exit their investments. The current administration charge to arrange a Secondary Market transfer is 2% of the value of the unit/share sale price – i.e. $1,000 for a transaction valued at $50,000.
Bayleys Real Estate Limited and Centuria have a long standing relationship with the key parties in the management on both sides transacting property together for over 20 years.
Bayleys are the selling agents for all Centuria’s New Zealand investment opportunities – this means Bayleys will send you information on upcoming offers, answer any questions, take you through the properties and assist with completing the application forms.
Centuria are the Manager. They structure the offer, arrange bank funding and issues the Product Disclosure Statement. Centuria is responsible for the fund and property management, including the facilities and property management, preparation of annual financial statements and payments of monthly distributions. Centuria will send investors quarterly updates on their investment.
Cash distributions are made to investors mostly monthly in arrears and paid directly to the investor’s nominated bank account. In most syndications payments are made on the 7th day of each subsequent month.
All of Centuria’s latest retail schemes have an independent supervisor appointed to represent investors, and ensure compliance with the scheme documents at all times. Currently, the Supervisor is Covenant Trustee Services. For schemes set up using a company structure, there is not a supervisor.
Centuria will charge a management fee as outlined in the PDS, and the fees charged vary from scheme to scheme.
Typically most of the offers utilise a mixture of equity and debt funding and are geared with non-recourse prime bank debt, with the balance investors’ equity. If property income yields are significantly higher than borrowing costs, a sensible level of leveraging increases an investor’s return on equity.
Level 2 Bayleys House
30 Gaunt Street
Wynyard Quarter
Auckland 1010
New Zealand
0800 369 520 (within New Zealand)
Ph: +64 800 369 520 (outside New Zealand)
Level 2 Bayleys House
30 Gaunt Street
Wynyard Quarter
Auckland 1010
New Zealand
You are now leaving Centuria New Zealand
and entering Centuria Australia.