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

Overview

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;

Benefits

  • 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
Notable features

General information

Company structure

  • Minimum one shareholder. No restrictions with regards to citizenship or residency. Natural persons and legal entities allowed.
  • Minimum one director. Natural persons only, at least one local administrator or a citizen of any enforcement nation, who is a director of a corporation registered in that enforcement nation.

Taxation

  • Corporate income tax rate 28%
  • 15 % GST
  • Around 40 Double Taxation Avoidance (DTA) agreements signed

Accounting requirements

  • Accounting year begins on the 1st day of April
  • Annual Statements must be registered to the Companies Office
  • The annual audit is necessary;

Secretary – Needed

Registered office – Needed

Registered Agent – Needed

Company name

  • Language: Any
  • Letters: From the Roman alphabet
  • Names holding royal, national, international, and financial or other signs are prevented
  • Names that are misleading or deceitful are prohibited
  • Identical or almost identical names are prohibited
  • Offensive names are forbidden
  • An only suffix “Limited” is recognized. After inclusion, the suffix “Ltd” can be used everywhere
  • The following contractions whenever they arrive in a name are acknowledged: “&” for “and”, “no” for “number”, “co” or “coy” for “company”, “N.Z.” or “NZ” for “New Zealand”, “Bros” for “Brothers”
Procedure
  • Gathering of appropriate documents for initial verification
  • Development of relevant papers
  • Applying for the license
  • The application is being prepared and limited approval is conferred by the FMA
  • Provision of proof of the local presence
Important Documents

In order to receive a license, Startup Formations will fill all important paper forms and also obtain apostilled corporate documents.

For that reason, please present us with the following documents:

  • Notarized passport
  • Notarized 2nd ID
  • Approved Utility Bill
  • Notarized Criminal Record
  • Bank reference Letter
  • 2 Character Reference Notes issued by specialists
  • Certified Diplomas of Higher Education
  • Detailed CV dated and signed by the applicant
  • Detailed business plan

All documentation shall be presented in English language or translated to English by an expert and certified by Notary Public.