New Zealand has grown a favored stop for foreign investors seeking for a well-reputed onshore jurisdiction with a positive atmosphere for building an entity authorized to provide a wide range of financial services.
Timeframe: Within 90 days
Minimum capital requirements: Is set on case-by-case basis
An organization appealing for a New Zealand Financial Service Provider’s (FSP) license need to be enrolled within New Zealand as this option is not available for foreign legal entities.
An appellant for the New Zealand Financial Service Provider’s license is needed to file a respective application to the Financial Markets Authority or FMA.
Under current administrations, representatives of the FMA need to conduct an investigation of the registered place of business in order to decide if these are original working bases. This means that local office with at least one worker is needed and this must be the place of taking out business activity.
New Zealand Financial Service Provider’s license authorizes a licensee to offer the following key financial activities:
- Asset Management on part of third parties;
- Preparation of credit following a credit contract;
- Foreign money exchange;
- Well-known jurisdiction, which is not denounced by any nation or financial institution
- A Member state of the Organization for Economic Co-operation and Development (OECD)
- A Member of the World Trade Organization (WTO)
- A wide network of double tax agreements
- There are no minimum share capital requirements
- The official language is English