Opening an offshore company in New Zealand is more or less an interesting challenge that can test your business skills. There are several important tips on how and when you should kick start your venture into offshore trade in New Zealand. In this short write up, you will get a comprehensive insight through few points on how to start an offshore business in New Zealand.
The corporate legislation source in New Zealand has a history that dates back to early 1993. According to this law, you can start different types of businesses like public companies, private limited companies, trusts, societies, sole proprietorships and public companies. The most commonly invested kind of offshore company in New Zealand would be the Private Limited ones.
The Name of an Offshore Company in New Zealand
Every company requires a name and New Zealand has strict rules on how your company’s name should end. Companies in New Zealand can have the following names or abbreviations: “Company Limited”, “Company”, “UnlimiteD” or “Tapui (Limited)”. Offensive words or phrases that are found in emblems and flags should not be used. Likewise, names that have commercial significance, royal links and international meanings must be avoided. According to the country’s name protection act, these names would not be approved.
The Rules of an Offshore Company in New Zealand
Unlike conventional offshore destinations, New Zealand doesn’t allow companies to adopt their very own constitution or regulations. All offshore companies should abide to a written constitution that is accepted by the local government and state regulations. However, the company’s laws can vary from one constitution to another.
The Owners of an Offshore Company in New Zealand
Moving on, the offshore company in New Zealand should have at least one shareholder. Shareholders can be a single corporate body or an individual. In New Zealand, trusts are not identified as valid shareholders. That is because shareholders have a unique collection of liabilities. These details can be learnt from the public file.
Just like shareholders, every offshore company in New Zealand should have at least one director. The director has to be a company or a natural person. And, there are no restrictions on how many directors and shareholders a firm has.
The Investment in an Offshore Company in New Zealand
Like many other offshore destination, New Zealand doesn’t demand for a share capital. There is no minimum capital requirement for offshore companies. However, a minimum authorised capital of 100 New Zealand Dollars should be paid. On the other hand, all issued shares should be paid fully. This includes redeemable, preference, registered and shares with/without voting rights.