11. OFFSHORE COMPANY IN NEW ZEALAND
Kw: OFFSHORE COMPANY IN NEW
Kw: Offshore Bank Account, OFFSHORE
incorporate an offshore company in New Zealand?
destinations across the globe attract investors to make huge investments. One
such jurisdiction is New Zealand considered to be an ideal place to start a
business. LLC (Limited Liability Company) is the most popular company type to
launch in New Zealand. It is also among the successful business structure to
form. Holding or trading companies with operations based outside the country
can still enjoy tax exemptions.
form LLC OFFSHORE COMPANY IN NEW
legal entity is separate from Company Owners or Shareholders. It means that the
company shareholders will not be held liable personally for entity liabilities
or debts. However, they are liable for all unpaid amounts owned on company
is also quite flexible and suitable for various types of business activities. It
involves a straightforward registration process, which can be completed within
a week. Personal presence is not mandatory for setting up the company. However,
the rules require at least a Director to be a citizen of the country. It is
also not necessary to hold Shareholders and Directors Meetings in the country
as it is allowed anywhere.
are the key features of registering an OFFSHORE COMPANY?
· Located close to Australia, no
restrictions are imposed by the stringent European Union regulations.
· Reporting requirements not necessary for
foreign trusts. Also, accounting records are not needed to be filed with any
regulatory or government body.
· For incorporation purposes, just one
shareholder and one director will be sufficient. However, the director is
expected to be a resident of the country. Additional shareholders and directors
may be from any nationality as well as reside in any part of the globe.
· A personal visit is not necessary to
launch the company.
· With regards to ease of starting a
business, New Zealand ranks very high.
consult a professional to launch an OFFSHORE COMPANY?
it is easy to open a business in New Zealand, you do need professional guidance
and advice. The professionals charge a reasonable amount and can help with the
incorporation process. They have the right contacts to make the effort seem
easy and quick while following the correct procedure. They will also help
overcome hassles and obstructions if any using their domain expertise,
expertise and knowledge. Given below are a few of the services rendered by the
· Company registration
· Registered physical office for one year
· Government registration fees
· Registered agent for one year
· Company Constitution copy
· Certification of Incorporation
· Statutory Registers Copy
· Share Certificates
· Shareholders Initial Resolution
the company name selection process, make sure that all words used are in the
English language. The company name is to end with ‘LIMITED’. After completion
of incorporation, it is possible to use the abbreviation ‘LTD’ anywhere.
remember that certain words are prohibited from being during the company name
selection process. Such words include commercial, international, national and
royal. If the concerned authorities find the company’s name offensive or misleading,
then they are likely to query the company name.
Timescale for company formation
form the company, you need to submit all relevant identification documents to
the concerned authorities on demand. The formation process takes about 5 to 7 working
days only if all documents and paperwork are in proper order.
up Offshore Bank Account in New Zealand
start carrying out business operations, you need to have a valid and functional
bank account in the country. An account can be opened with any bank in the
country, but only after company formation. The banks to select to serve the
purpose should offer superior quality services and maintain confidentiality. You
need to submit several documents to open an offshore account.
information related to Company Registration
tax is to be paid on income made in the country by all resident companies. The
corporate tax rate slab is around 28%. Businesses need to submit tax filings by
March 31st every year. Provisional tax needs to be paid on January
15th, March 31st and May 7th annually. The
tax rate on standard services and goods is 15%.
availing dividends are subjected to a withholding tax of 30%. However, there
can be a reduction in this rate depending on double taxation treaties, share
capital and company earnings. However, there is no wealth or inheritance tax.
not indulging in any kind of trading from the country are liable to pay taxes
only on income earned in the country. But worldwide income derived is taxable. In
case the company operates outside the country or is a holding firm, then taxes
enable standard company formation, there will be required at least one
shareholder and one director. Shareholder need not be a resident of the
country. But this is mandatory for the director. In case, the Director is not a
resident in New Zealand, then you can arrange for a Nominee Director.
Zealand Dollar (NZD) is the country’s standard currency to be used for company
formation. 10,000 NZD is the authorized standard Share Capital to be invested
here. For the new company, the minimum paid-up share capital can be just 1 NZD.
However, during company registration, Bearer Shares cannot be availed.
requirements to register OFFSHORE
COMPANY IN NEW ZEALAND
are minimal annual requirements to be followed for registering a company in New
Zealand. The offshore firm launched here has to renew its registered office
address annually along with registered agent service. It is mandatory and is to
be included within CFS annual renewal expenditure.
company also needs to maintain proper and correct books while complying with
specific accounting requirements. Moreover, accounts are to be audited
thoroughly meeting set statutory requirements. Annual Return is to be filed by
the company every year before March 31st. An annual statement is to
be filed if the company’s assets exceed $20 million. CFS annual renewal expenditure
is not likely to include these fees.
getting the details can help you to launch an OFFSHORE COMPANY IN NEW ZEALAND without much trouble.