New Zealand
NEWS
FACT FILE
Location South Pacific.
Time Zone Greenwich Mean Time +12.
Population 4,400,000.
Capital Wellington.
Airport International – include Wellington, Auckland, Christchurch, Queenstown.
Language English.
Currency NZ dollar.
Dialing Code +64.
Centre's Expertise High.
Political System Constitutional democracy.
Legal System Common law.
Personal Income Tax 0 to NZ$14k - 10.5%; NZ$14,001 to NZ$48k - 17.5%; NZ$48,001 to NZ$70,000 - 30%; NZ$70k and above - 33%
Corporate Income Tax 28%.
Exchange Restrictions None.
Tax Treaties For full details, please go to www.ifcreview.com/TIEA.
Permitted Currencies Shares not required to be denominated in money.
Minimum Authorised Capital Nil.
Minimum Share Issues Nil.
Shelf Companies Available from company providers but not so relevant because of rapid incorporation time.
Incorporation Time Scale Can be set up within 24 hours with local directors and shareholders. Where there are foreign directors or shareholders, incorporation cannot be completed until certified copies of ID and proff of address are provided to the Companies Office.
Incorporation Fees NZ$160.22 including GST of 15%
Annual Fees NZ$45 including GST of 15%
Minimum Number One.
Residency Requirements Currently none. Later in 2014 it is anticipated that companies will require at least one director to be resident in New Zealand or in an "enforcement country" (ie, a country with reciprocal arrangements with New Zealand for enforcement of low level criminal fines).
Corporate Directors Not permitted.
Meetings/Frequency On notice by a director.
Disclosure Yes (trusts no disclosure).
Bearer Shares Share register must show names of shareholders.
Minimum Number One.
Public Share Registry Company must make register available for inspection by public.
Meetings Frequency Annual meeting, or 75% shareholders’ resolution.
Annual Return GAAP financial statement are required only for 'large' companies, companies with 10 or more shareholders (unless they opt out) or other companies that opt in. Large generally means total assets exceeded NZ$60m or total revenue exceeded NZ$30m in each of past 2 accounting periods; there are lower limits for subsidiaries of foreign corporates.
Audit Requirements Not required for exempt companies; required for public companies.
Registered Office Must be in New Zealand. Company must have address for services in NZ.
Domicile Issues Companies may emigrate or immigrate.
Company Naming Restrictions Name forbidden that: 1. Contravenes enactment 2. Identical to another company 3. Is offensive.
ARTICLES
New Zealand’s Regulatory Environment: Where to from here?
  New Zealand has just received good feedback from the International Monetary Fund (IMF) in its latest regulatory review of our financial services sector. (19/09/2017)
New Zealand: Regulation & Trust Reform
  John Hart examines recent reform to New Zealand's Regulatory and Trust regimes. (16/06/2015)
A Rewrite of New Zealand’s Capital Markets Law
  Penny Sheerin highlights the 'once in a generation' reform of the New Zealand capital markets system following the enactment of the New Zealand Capital Markets Law. (01/07/2014)
QROPS: A Jurisdictional Comparison
  A year on since the 2012 UK budget put many providers out of the market, Rex Crowley examines the many variations of QROPS still available and provides a jurisdictional comparision. (01/05/2013)
New Zealand: A Unique Wealth Planning Option
  New Zealand remains a jurisdiction with unique wealth planning options, John W Hart examines the continuing popularity of New Zealand with Investors. (01/01/2013)
New Zealand Foreign Trusts – A Vehicle for International Wealth Planning
  Straight from our soon to be published Asia Pacific Review, John Hart provides an update on New Zealand's Foreign Trusts industry. (01/05/2012)
New Zealand - The ‘onshore’ jurisdiction providing more advantages than the traditional ‘offshore’
  Garth Melville considers the advantages for global wealth planners doing business in New Zealand (01/05/2011)
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FURTHER BACKGROUND INFORMATION
  New Zealand Tax Treaties
  New Zealand currently has 40 DTCs and 20 TIEA agreements in place. - read more...
  read all