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New Zealand Company

New Zealand is one of our top recommendations for an onshore jurisdiction and the reason for this is because it provides many advantages of a traditional "offshore” corporation, yet it is accepted by most countries as a true "onshore” corporate entity. New Zealand is not blacklisted by any other countries, more importantly it is not perceived as a tax haven. 

There are a wide range of applications for a New Zealand company which range from trading and investing to acting as a holding company. One of the most popular roles for many clients is for the company to act as an agency company. In this role the company can act for one or more businesses which can be based in tax free jurisdictions such as the British Virgin Islands, Seychelles or Belize. The usual method of operation is that an agency agreement is drawn up which provides for commissions of between 5-15% of total profit or turnover generated and the company would then pay tax in New Zealand on its net profit at a rate of 33% corporation tax. The bulk of the remaining profit which would amount to at least 85% of the total is then transferred to the parent company in the British Virgin Islands, Seychelles or Belize and is totally free of any additional taxes.

Another important consideration in New Zealand is that existing companies which are registered in offshore jurisdictions can be redomiciled into New Zealand under provisions contained in the New Zealand Companies Act. Provided the initial jurisdiction permits redomicilliation the effect of this it that no new legal entity is created and the date of incorporation remains the same as the original company formation.

Summary

  1. New Zealand offers a relatively inexpensive jurisdiction for offshore entities.  The standard entity is a Limited Company which can be formed very quickly and is very inexpensive on an annual basis.
  2. Neither Directors nor Shareholders are required to be NZ residents. However,   if 75% of the LLC is owned by an offshore company, the LLC must file audited accounts annually with the Companies Office. Therefore, we can provide nominee shareholders with all new formations if required – we will also provide a "Declaration of Trust” explaining that the nominee shareholder is not a beneficial owner of the entity.  Entities where the 75% shareholder is an offshore person (not a company) are not required to file audited accounts.
  3. Directors must be people and cannot be nominees.  A passport copy and a copy a utility bill must be provided for all directors.   Therefore, you must provide the directors. 
  4. New Zealand LLCs that are not conducting any taxable (trading) business are not required to register with the Inland Revenue Department (IRD) in New Zealand. LLCs that are not registered with the IRD are not required to file a tax return in New Zealand.  In the case of your client who is receiving income into a New Zealand company, they must register with the NZ Inland Revenue Department (we can do that on your behalf) and they must file tax returns in New Zealand.
  5. A Tax Residency Certificate is not required if not doing business in NZ, but can be obtained, if needed.  The Director of the company simply writes to the NZ Inland Revenue Department requesting a tax residency certificate.
  6. The Constitution (Bylaws) are not required to be filed, but can be filed with the Companies Office.  Unless instructed otherwise a filed constitution is included with every order.  We can use our standard form or file a client provided form.  It is very easy to file an amended constitution.
  7. Amendments can be made to the directors and shareholders at any time.  These changes must be filed with the Companies Office and are reflected on the "Company Extract”, which is similar to a certificate of good standing.

The formation cost is: US $945 / £590 / €695 

Annual fee is due on the anniversary and is: US$385 / £275 / €315

A virtual office address and New Zealand Virtual phoneline is an option if required and the cost is US$625 / £395 / €450 per annum


UK / Ireland020 7175 0041
(International +44 20 7175 0041)
US / Canada1 954 866 5986
(INTERNATIONAL +1 954 866 5986)
Australia and New Zealand+61 2 9191 7472
(INTERNATIONAL +61 2 9191 7472)
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