NEW ZEALAND (Private Limited Liability Company)
Country’s geography & information in brief: New Zealand is located in the southern part of the Pacific Ocean to the east from Australia. It forms part of the British Commonwealth. Official language – English. National currency – New Zealand dollar.
Entity type: Private company limited by shares
Directors: Minimum number – one. Directors may be private or legal persons, residents of any country.
Shareholders: minimum number – one. Shareholders may be private or legal persons, residents of any country. If at least 25% of its shares belong to non-residents of New Zealand the company requires annual auditing.
Secretary: there are no special requirements concerning the secretary.
Authorized capital: There is no minimum required. Standard declared capital is of 1000 NZD.
Names’ restrictions: name shall end with “Limited” or “Ltd”. Names containing such words as “National”, “Bank”, “Chamber of Commerce’, “Insurance”, “Municipal”, “State’, “Royal’, etc & their derivatives are not allowed without special consent.
Information about the beneficiary: the register of directors & shareholders in New Zealand is public. Information about the beneficial owner may be provided only to the secretary company & are kept private.
Audit & financial reports: it’s necessary to keep books, prepare & file annual return, financial accounts annually even though the company haven’t carried out any activity. Accounts must be certified by an auditor, if more than 25% of shares belong to non-residents.
Taxation: Corporate Tax rate for companies with non-resident shareholders is 33%. Companies that act as trustees are exempt from tax payment provided that the beneficiaries of the trust are not residents of New Zealand.
Constituent documents set: Certificate of Incorporation, First Minutes of the Company, Memorandum & Articles of Association, Form of director, Form of Shareholder, Power of Attorney, Share certificate.
Nominee service: allowed.
Transfer of an alien company to Midland Consult service: possible, but only with consent of the previous secretary company in New Zealand.
Currency control: no
Taxation: for detailed information about taxes & fees please visit Inland revenue of New Zealand web-site.
Additional information: trustees may file dormant balance. New Zealand is not considered as a state with low tax burden. Political & regional stability. There is no Capital Gains tax (tax on shares & assets sales). Annual return shall be filed just at the end of the financial year, no monthly accounts are required.
