Is New Zealand a Tax haven offshore country?
No, New Zealand is not offshore country or tax haven country, however there are possibilities to create a company structures which operate as offshore business entities.
What types of New Zealand Offshore Company exclude of taxation?
- New Zealand Limited Partnerships and
- New Zealand Special Purpose Companies.
Above business structures will operate tax free if
- Do not trade within New Zealand
- All their incomes are earned abroad
- All the partners in the Limited Partnership are not residents of New Zealand.
Other benefits of above business structures:
- They are recognized around the world.
- Can be used as asset protection
- Can trade in countries around the world.
- The legislation governing the formation of limited partnerships allows for the use of corporate bodies to act as partners in the New Zealand Corporation.
- Progressive legislation
- Stable economy and political systems
What other types of business companies New Zealand permits to form?
Several types of business companies including:
- Resident companies such as:
- Limited liability companies
- Limited partnership companies
- Branches
- Subsidiaries of foreign companies.
- Formation of charitable and non-charitable trusts.
Are any of other types have advantage of offshore benefits in the New Zealand jurisdiction?
Only two types of companies which are allowed to operate as an offshore in New Zealand:
- Limited Partnership Companies and
- New Zealand Special Purpose Companies.
What is the structure of Limited Partnership in New Zealand?
A New Zealand Limited Partnership is made up of
- General and Limited partners.
- The General partners will incur all the debts of the partnership
- Limited partners are only responsible for the debts of the company based on the contributions made towards the company.
- Limited Partnership Company is regulated by the New Zealand Limited Partnership Act which was passed in 2008.
- New Zealand Limited Partnerships require to be registered at the New Zealand Companies by submitting a complete Application form
- The information to be included in the application form is:
-The name of the limited partnership
-The address of the registered office which must be in New Zealand
-The names, addresses and nationalities of the general partners. General partners of New Zealand Limited Partnership can be physical person or corporate entity
-The names, addresses and nationalities of limited partners. Limited partners of New Zealand Limited Partnership can be physical person or corporate entities.
- A Consent Form must be signed by General Partner
- A partnership agreement can be issued by General and Limited partners.
What is the structure of New Zealand Special Purpose Companies?
A New Zealand Special Purpose Company is easy to form and register.
The above type is basically a trustee of a New Zealand Trust company. To set up such business structure in New Zealand firstly need to form a resident company which can be used to manage the New Zealand trust, preferable type by foreign investors is a Private Limited Liability Company
For the formation of a resident company compulsory to submit:
- A Memorandum of Association and Articles of Association.
- The minimum number of shareholders for this company is one
- At least one director is need. There are no limitations to the number of directors of the company.
- The Trust beneficiary and the rightful owner of New Zealand Company can be the same individual.
- The formation of such business structures in New Zealand takes between one and two working days.
After the formation is done of the New Zealand Company or the New Zealand Trust can open a bank account and do its business operations worldwide.
*****
If you wish to register a company in New Zealand our team will be happy to help you there and provide you with more detailed information, you can contact us at [email protected]
Related page: New Zealand Company Formation
