Registering an offshore trust in New Zealand
Offshore trust in New Zealand.
Offshore trust in New Zealand
Registering an offshore trust in New Zealand can bring many advantages to any businessman or individual who seek to protect his wealth and assets. New Zealand has become a popular destination for onshore and offshore trusts registration and trusts are now a well-recognised part of the New Zealand legal and economic landscape.
New Zealand has an advantageous geographical position that determines its international relations and communication with other countries. It has an exceptional public infrastructure and is considered to be a major financial center. New Zealand has an excellent reputation and is a standing member of OECD.
Registering an offshore in New Zealand means that your trust will get added protection. The New Zealand law passed in 1988 on trusts is still in operation today. Due to its strong legislation a properly structured trust in New Zealand is unbreakable and any other third party will not be able to get your assets.
What can you use an offshore trust in New Zealand for:
- Asset protection
- Succession planning
- Benefits for the kids
- Benefits for employees
There are several types of trusts in New Zealand:
- Complying trust
- Non-complying trust
- Foreign trust
- Charitable trust
The first two types of trusts can only be set up by New Zealand residents or those with prospects of becoming citizens. Particular attention should be paid to the foreign trusts that can only be created by a non-resident. Today New Zealand Foreign Trust is an effective alternative to traditional offshore. In accordance with New Zealand law, the tax status of the trust is completely determined by the resident status of its founder and is independent of the status of resident managers and beneficiaries of the trust.
What benefits can registering your offshore trust in New Zealand bring?
- No tax on income derived from foreign sources
- Effective tax planning
- Politically stable country
- New Zealand trusts may have bank accounts , insurance policies, intellectual property , etc.
- High degree of anonymity and reliable security systems
If you have decided to set up an offshore trust in New Zealand we can offer you a quick, professional and low cost solution suited to your individual needs.