Centuria NZ Investor Centre

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.

How to apply

How to apply


New Investors

How to apply

The best way to apply for investment opportunities with Centuria is through our online application form. Applying online is a quick and easy process. Once you click Submit it is automatically sent to our processing team, no need to wait for the courier to come and collect your paper application and deliver it to us.

Please note: You will need to upload bank verification to the online form. If you are unsure on how to do this please call us on 09 300 6161.

Paper applications

Alternatively, if you prefer, you are also able to apply for all our investment opportunities using the paper application form. The paper application can be found at the back of the Product Disclosure Statement (PDS) for the offer you are applying for.

Please be aware that processing times may be longer for paper applications.

Customer Due Diligence

Once we receive your application, we will need to complete Customer Due Diligence (CDD) on you or the entity you are applying on behalf of. More information on CDD can be found in the Anti-Money Laundering section on this page.

Payment

Once your CDD is complete, we will be in contact in regards to your selected payment method.

If you have chosen to make a bank transfer of your funds, we will send you an email (or letter) with the payment details and instructions, including your payment reference and the date payment must arrive into our account.

If you have chosen to pay via Direct Debit, we will let you know the date your funds are due to be debited from your account either by email or letter.

Due to cheques being phased out in New Zealand, we no longer accept them as a method of payment for our investment opportunities.

Application confirmation

Once your funds have been received and cleared into our account,  we will confirm this with you via email or letter.

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 let us know.

At this stage your application has been approved and your shares or units are ready to be allocated to you once the offer has settled. The expected settlement date will be in the PDS.

Settlement & allocation of shares or units

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

Once the shares or units have been allotted to you, you will be able to log in to our investor portal, Centuria Investor to view information pertaining to your investment.

As well as being able to view details of your investment, such as your holding balance, transaction history and distribution payments, the portal can also be used to update your details, such as a change of address or bank account.

As a new investor, you will have been allocated an Investor Number which can be found on your Holding Statement. You will need this number to log into the portal. You should also receive instructions to register separately.

If you are an existing investor and your new or additional holding is registered with the same details, then the holding will automatically be available in your account the next time you log in. If your registration details are different, such as they are held in a different entity name or if your distributions are paid into a different bank account, you can add the holding by selecting “Linked Holdings” on the menu on the left hand side.


Existing Investors

How to apply

The easiest and quickest way for existing investors to apply for new investment opportunities is by using our online application form. You will need to enter your Investor Number to log into the form. This will pre-populate the details you have previously provided to Centuria and the great news is you won’t need to upload any new documents. You will also have the opportunity to update your details if they have recently changed.

If there have been no changes to your account, you will receive the bank account details to make a transfer of your funds on submission of your application form.

Please note: Your investor number can be found on previous correspondence from us. If you do not have a copy of recent correspondence please feel free to call us on 09 300 6161 and we will be able to provide this for you.

Paper applications

Alternatively, if you prefer, you are also able to apply for all our investment opportunities using the paper application form. The paper application can be found at the back of the Product Disclosure Statement (PDS) for the offer you are applying for.

Please be aware that processing times may be longer for paper applications.

Customer Due Diligence

Good news, existing investors do not need to complete CDD again providing there have been no changes to the account. If there has been a change of your address, or a change in trustees or ownership for example, we may require further documentation from you.

Payment

Once your application is received and any CDD is complete (if required), we will be in contact in regards to your selected payment method.

If you have chosen to make a bank transfer of your funds, we will send you an email (or letter) with the payment details and instructions, including your payment reference and the date payment must arrive into our account.

If you have chosen to pay via Direct Debit, we will let you know the date your funds are due to be debited from your account either by email or letter.

Due to cheques being phased out in New Zealand, we no longer accept them as a method of payment for our investment opportunities.

Application confirmation

Once your funds have been received and cleared into our account,  we will confirm this with you via email or letter.

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 let us know.

At this stage your application has been approved and your shares or units are ready to be allocated to you once the offer has settled. The expected settlement date will be in the PDS.

Settlement & allocation of shares or units

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

Once the shares or units have been allotted to you, you will be able to log in to our investor portal, Centuria Investor to view information pertaining to your investment.

As well as being able to view details of your investment, such as your holding balance, transaction history and distribution payments, the portal can also be used to update your details, such as a change of address or bank account.

As a new investor, you will have been allocated an Investor Number which can be found on your Holding Statement. You will need this number to log into the portal. You should also receive instructions to register separately.

If you are an existing investor and your new or additional holding is registered with the same details, then the holding will automatically be available in your account the next time you log in. If your registration details are different, such as they are held in a different entity name or if your distributions are paid into a different bank account, you can add the holding by selecting “Linked Holdings” on the menu on the left hand side.

Centuria Investor portal

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:

  1. Visit CenturiaInvestor.com and click on “REGISTER NOW
  2. Please enter the following investor details to register:
    Issuer: Choose the specific Centuria issuer for your registered holding
    Holding type: Choose the specific holding type for your registered holding
    Reference number: This is your Investor Number which can be found on your welcome letter
    Name: This is your registered name as shown above
    Postcode (if New Zealand address) or country (if outside New Zealand)
  3. Follow the prompts for identity and security verification of your account. Supply of your mobile phone details is optional, to skip please click Continue.
  4. Create your login details: Username, password and security questions.

Please record your login details for easy access next time.

Anti-Money Laundering

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.

 

What to expect from First AML

Applying as an individual or Joint Individual

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.

Applying as partnership

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:

  • Partners;
  • Any other individuals with control over the management of the partnership’s affairs;
  • Individuals with a greater than 25% interest in the partnership;
  • Any other persons acting on behalf of the partnership (such as those who have signing authority or power of attorney)

Applying as a Company

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:

  • Directors
  • Any other individuals with control over the management of the company’s affairs
  • Shareholders who own more than 25% of the company
  • Any other persons acting on behalf of the company (such as those who have signing authority or power of attorney)

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.

Applying as a Trust or Estate

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:

  • All trustees/executors
  • Directors of a corporate trustee company
  • All non-discretionary beneficiaries entitled to greater than 25% of the trust assets
  • Any individuals with control over the management of the trust or estate’s affairs (such as Appointers or those with the power to alter the trust deed)
  • Any persons acting on behalf of the trust or estate (such as those with signing authority or Power of Attorney)

Information required to verify the trust:

  • Trust Deed or Probate, together with any subsequent deeds of retirement and/or appointment showing the current trustees.
  • We are required by law to ask you for additional information about the trust’s source of funds or wealth before you invest. This means that we need to understand how the trust has obtained or generated its wealth and collect documentation to verify that information.

Applying as an Incorporated Society

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:

  • Office-holders
  • Any other individuals with control over the management of the society’s affairs
  • Any individuals with a greater than a 25% interest in the society’s assets
  • Any persons acting on behalf of the society (such as those with signing authority or power of attorney)

Source of Wealth & Source of Funds explained

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:

  • Recent Financial Statements
  • Loan agreement from Financial Institution
  • Sale & purchase agreements
  • Investment statements showing income generated from investments
  • Evidence of settlement proceeds, gifts or inheritance

Providing certified documents

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:

  • Lawyers
  • Chartered Accountants
  • Justice of the Peace/Notary Public
  • Sworn Member of the Police
  • Registered Medical Doctor
  • Registered Teacher
  • Minister of Religion
  • A person who has the legal authority to take statutory declarations or the equivalent in your country

 

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.”

  • Date of certification
  • Signature of Trusted Referee
  • Profession of Trusted Referee
  • Registration Number if applicable

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.

FATCA and CRS FAQs

What is the Foreign Account Tax Compliance Act (FATCA)?

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.

https://www.ird.govt.nz/international-tax

Which type of investors are required to complete FATCA/CRS?

  • Individuals
  • Joint individuals
  • Partnerships
  • Company
  • Trust

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.

Questions and answers / information

What is property syndication?

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.

What happens after I purchase a unit in a syndicate?

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.

How often do syndicates become available?

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.

What sort of properties does Centuria offer?

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.

How do I invest?

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.

What is the minimum investment amount?

The minimum investment amount depends on each individual offer. The majority of schemes require a minimum investment of $50,000.

Are there different types of investments and who can invest?

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.

Do I receive any capital gains?

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.

Can I sell my investment, and can I receive more than the original $10,000 or $50,000 investment?

Centuria operates a secondary market facility that can utilise their database of approximately 4,500 clients to reach potential investors and arrange secondary transfers and has done so for over 10 years. The current administration charge to facilitate a secondary transfer is 2% of the value of the Unit/Share sale price – i.e. $1,000 for a Unit/Share sold at $50,000.

In the two previous financial years (ending 31 March 2020 and 31 March 2021) 95% of secondary sales that have been offered on the Secondary Sales Market have settled within one month.

Who is involved in providing the investment and what do they do?

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.

How is the return paid to investors?

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.

Is there any independent oversight?

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.

What are the fees?

Centuria will charge a management fee as outlined in the PDS, and the fees charged vary from scheme to scheme.

Why is bank funding required?

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.

Contact

Investor Services Team

09 300 6161

Level 2 Bayleys House
30 Gaunt Street
Wynyard Quarter
Auckland 1010
New Zealand

Registry Services Provider

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

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