New Zealand

Resident Company

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Company Formation in New Zealand

New Zealand is a sovereign island country in the southwestern Pacific Ocean. The country geographically comprises two main landmasses – the North Island, and the South Island – and around 600 smaller islands. New Zealand is situated some 1,500 km (900 mi) east of Australia across the Tasman Sea and roughly 1,000 km (600 mi) south of the Pacific island areas of New Caledonia, Fiji, and Tonga.

New Zealand is a wealthy country, with a relatively high GDP per capita and a relatively low rate of poverty. Since the 1980s, New Zealand has transformed from an agrarian, regulated economy to a more industrialized, free market economy that can compete globally. Since 1984, government subsidies including for agriculture have been eliminated, import regulations have been liberalized, exchange rates have been freely floated, controls on interest rates, wages, and prices have been removed and marginal rates of taxation reduced.

New Zealand has a modern, developed economy and a high standard of living. The main export industries are agriculture, horticulture, fishing and forestry. Major export partners are Australia, US, Japan, China, and Germany. Having well-developed communication, business and commercial infrastructure, New Zealand offers a high standard of professional services for business purposes. The legal and banking professions are also of high level.

New Zealand Limited Liability Companies (LLCs) are not considered as offshore companies.

There are several types of companies available in New Zealand, the most popular are LLC (Companies limited by shares), Limited Partnerships and LTC (Look-Through Company).

Advantages of company incorporation in New Zealand:

Double-tax agreements with almost 40 countries, residence certificate, GST Number;

Credibility and prestige for your worldwide partners, having your resident non-offshore company;

28% Corporation tax rate. If properly structured, corporate tax can be very well optimized;

There are no restrictions on foreign Shareholders. At least one Director must be a resident of New Zealand, other Directors may be from any legal jurisdiction;

There is no paid up capital requirement;

Interim dividends distribution is allowed. Distribution to foreign entities or individuals are not taxed in Zealand on certain conditions;

Nominee services are available;

Board Meetings can be held anywhere in the world. However, in order for the company to be tax resident in New Zealand, board meetings should be held in New Zealand for establishing a local management and control.

Summary of New Zealand Limited Company and main characteristics:

General Information 
Type of companyLimited Liability Company (LLC)
Corporate LegislationThe Companies Act, 1993, Limited Partnerships Act 2008 as amended
Legal system: Common Law
TaxationStandard Corporation Tax – 28%. A New Zealand company is taxable on its worldwide income.
Tax on Dividends for foreigners – 0%, on certain conditions;
Standard GST (similar to VAT) rate – 15%
CurrencyNew Zealand dollar (NZD)
Paid up capital requirementNo paid up capital required
Time zoneGMT (UTC) +12, GMT (UTC) +13
Directors
Minimum no. required1, individual
Local Director requiredYes, at least one Director must be a resident of New Zealand, other Directors may be from any legal jurisdiction (can provided by Consil Formation)
Location of MeetingsAnywhere
Shareholders
Minimum no. required1
Location of MeetingsAnywhere
Company Secretary
RequiredOptional
Local Secretary requiredThe secretary cannot be the same person with director
Registered office requiredYes, local
Share Capital
Standard CurrencyNZD($)
Standard Authorized CapitalNZD 10,000
Minimum paid up capital1 NZD
Accounting Requirements
Preparation of accountsRequired every year (can be completed by Consil Formation)
Requirement for auditNo, but in certain conditions may be required
Accounts public accessibleYes
Requirement to file Annual ReturnYes
Further Information
Bearer sharesNo
ConfidentialityYes
Nominee servicesAvailable
Need to travelNo
ApostilleYes, Hague Convention 1961
OwnersIndividuals or Corporate

Register your New Zealand Limited Company

Company Formation – with all services included for the first year: Upon request;

Certificate of Registration of the Company;

Application for registration as a New Zealand Company, confirming the Registered Address of the Company, appointment of its Director/s, Secretary and distribution of the shares of the Company in accordance with banks requirements;

First Resolution of Director/s, confirming appointment of the Director/s, Secretary and the Shareholder/s of the Company;

Consent to Act as Director, Secretary & Member/Shareholder, signed by the Director/s of the Company;

Notice of Appointment of Public Officer, a document confirming appointment of the first Director/s of the Company;

Notification of share issue;

Share Certificate(s);

Nominee Local Director services;

Authorized Share Capital of NZD 10,000;

Local Registered/legal Address of the Company in New Zealand;

Local registered agent and secretarial services;

Payment of annual fixed Government fees for first year;

Personal manager assistance for the entire period.

Renewal Fee after one year – with all services included for the next yearUpon request;

Local Registered/legal Address of the Company in New Zealand;

Local registered agent and secretarial services;

Nominee Local Director services;

Payment of annual fixed Government fees for second year;

Personal manager assistance for the entire period.

Nominee Director – Individual or Corporate as per client’s request:

Nominee Shareholder – Individual or Corporate as per client’s request:

Local Licensed Secretary – as per client’s request:

Power of Attorney – General / Special PoA Notary Legalized with Apostille, in accordance official institutions and with banks requirements:

Certificate of Good Standing with Apostille, in accordance with official institutions and banks requirements:

Certificate of Incumbency with Apostille, in accordance with official institutions and banks requirements:

Legalization of Documents:

  • Document Notarization per document:
  • Bundle of documents Notarization;
  • Document Apostillation per document;
  • Bundle of documents Apostillation.

Company Seal:

Company Rubber Stamp:

Bank Account opening service – Quotation based on each particular case;

Compliance Service – After Company Incorporation Services – new persons, legal entities, annual compliance review:

Accounting & Bookkeeping – Quotation based on each particular case.