New Zealand Corporation Formation


New Zealand Company Formation

New Zealand is situated in the South Pacific Ocean and possess two large and several small islands. Since its autonomy in 1947, New Zealand economy is progressing and mainly depends on the banking and finance. New Zealand enjoys economic liberalisation on account of structural reforms in the country. Certain reforms were introduced such as removal of exchange control and interests, which in turn resulted in facilitation in cash flow in or out of the country. New Zealand worked very hard to attract investment in the country and with the introduction of general tax incentives, New Zealand government paved ways to make New Zealand one of famous International Financial Centre.

Not only financial setup but overall company incorporation setup is revamped, which ultimately offer flexibility in order to incorporate company in New Zealand. One example of this flexibility is the exemption to pay annual government fee and no requirement to show capital. There shall be liability to file annual financial returns of the company, only if 25% or more shareholders of the company are overseas shareholders. All these reforms resulted in time efficient and quite simple company incorporation procedures.

Incorporation Requirements

Following are the requirements for company incorporation in New Zealand:

Directors

  • There is a requirement of minimum one director and it’s not necessary for the directors to be resident or nationals of New Zealand.
  • It is not allowed to appoint corporate directors.
  • No need for director’s meeting.
  • There is the need to maintain public director’s register.

Secretaries

  • There is no requirement of minimum secretary and it’s not necessary for the secretaries to be resident or nationals of New Zealand.
  • It is not allowed to appoint corporate secretaries.
  • No professional qualification requirement for the secretary.

Shareholders

  • There is a requirement of minimum one shareholder.
  • It is allowed to appoint corporate shareholders.
  • It is required to maintain public shares register.
  • Par values of shares are not permitted.
  • Share capital is authorised to be of 100 shares with the value of each share of NZD 1.
  • Shareholders are not allowed to retain or possess bearer shares.

Incorporation Fee

Kindly have a look at the section of fee schedule for description of incorporation fee. However here is the summary of the fees structure:

  • Fees of government.
  • Fees of local secretary.
  • Fees of local agency.
  • Fees of registered office.
  • Fees of our service.

Once your company incorporates, you will get; certificate of incorporation along with M & A five copies, and original formation documents and minutes.

Incorporation Time

It takes 1 to 2 weeks for company incorporation in New Zealand.

Offshore Bank Account

For the updated details on the facility of offshore bank account, please refer to the section of fee schedule.

Miscellaneous

  • Company should have registered agent.
  • If all shareholders or some are nominee, then there is no need to declare shares ultimate beneficial ownership to authorities.
  • Annual returns of the company must be demonstrated.