Source: http://www.businesscompass.co.nz/new-zealand-company-faq/
Timestamp: 2013-05-23 14:05:34
Document Index: 626976561

Matched Legal Cases: ['art 8', 'art 5', 'art 5', 'art 10', 'art 8', 'art 8', 'art 12', 'art 1', 'art 5']

The New Zealand business Questions and Answer section catalogues the most commonly asked questions and queries regarding all aspects of incorporation of New Zealand business entities and the ongoing administration of New Zealand businesses.
The questions and answers are broken down between different categories and aspects of forming a New Zealand business entity and meeting the statutory requirements for the new New Zealand buisness.
If you have an issue that is not already covered in the questions, please feel free to contact us using the form below, and we will address your query as soon as possible.
Can New Zealand companies have corporate Directors?
We are looking at New Zealand company formation and would like to use our existing Hong Kong company as the Director in a new New Zealand company. Is this possible?
Ming WANG, Hong Kong
Part 8 Section 151 of the Companies Act 1993 sets out that “…a person that is not a natural person cannot be a director of a company.”
In effect this means that New Zealand companies cannot have corporate Directors. Are New Zealand companies required to have a constitution?
When we incorporate a New Zealand company are we require to have a constitution?
Francis JOHNSON, chicago, USA
Part 5 Section 26 of the Companies Act 1993 sets out that New Zealand companies are not required to have a constitution, although there is no restriction to prohibit a company from having a constitution, if they wish to do so.
Part 5 Section 28 of the Companies Act 1993 sets out that if the company does not have a constitution, all of the duties, powers, rights, and obligations of the company, its Directors and Shareholders will be prescribed in the Companies Act 1993.
During the process of incorporation, the company can upload a constitution to be held by the Companies Office and made available to the public. Do New Zealand companies need register for GST?
We have a New Zealand company which operates exclusively outside of New Zealand, importing and exporting textiles on the international market. Do we still need to register for GST even though we are not operating in New Zealand and have no intention to operate in New Zealand?
Paul-Henri MOREAU, Paris, FRANCE
Under current New Zealand tax regulations, any New Zealand registered entity which meets any of the following conditions must be register for GST:
Turnovers or taxable activity exceeding NZD 60 000 in the previous 12 months, or
Turnovers or taxable activity is expected to exceed NZD 60 000 in the next 12 month.
All companies that become liable to register for GST (by meeting the above criteria) must apply for a GST registration within 21 working days of becoming liable.
It is possible for New Zealand companies to apply for GST during the incorporation process.
When is the fiscal year in New Zealand?
We operate in several countries and understand that the fiscal years in each jurisdiction are not always synchronised. When does the fiscal year start and end in New Zealand?
Chanarong BOONLIANG, Chian Mai, THAILAND
The New Zealand fiscal year starts on April 1st each year, and ends on March 31st the following year.
Further details regarding the dates of filing and payment of taxes in New Zealand can be found on our New Zealand Tax Calendar.
When must a New Zealand company hold a meeting of the shareholders?
I understand that there are some legal requirements for the shareholders of a New Zealand company to hold a meeting. How often must these occur, and how soon after incorporation must we have one?
Ashley PETERS, Edinburgh, SCOTLAND
Subject to Section 120 of the Companies Act 1993, the board of any New Zealand company must call an annual meeting of shareholders:
within 6 months of the balance date of the company, and
no later than 15 months following the previous annual meeting, and
within 18 months of its registration.
The company is not obliged to hold its first meeting within the same calendar year as its initial formation, but it must comply with the rules listed above in order to fulfil its obligations.
What is a Look Through Company?
Recently we have heard a lot about New Zealand Look Through Companies. How do these entities differ from regular New Zealand companies?
Russel THOMPSON, Christchurch, NEW ZEALAND
The New Zealand Look Through Company (LTC) is a standard New Zealand Limited Liability company, which has applied for and been granted tax transparent status by the New Zealand Inland Revenue Department.
For taxation purposes, the profits and expenses raised by the activities of the company are regarded as being raised by the shareholders of the company. The Look Through Company is not taxed at a corporate level as its profits “flow though” to its shareholders.
What are the conditions for being granted LTC status?
We have a New Zealand company with a Hong Kong company as a shareholder. Are we eligible to hold LTC status?
Chan WEN, HONG KONG
In order to be granted for LTC status the company must:
Have 5 or fewer shareholders, and
Only have shareholders who are individuals, other LTCs, or Trustees acting on behalf of a Trust, and
Have met all the conditions for holding LTC status in the year for which the application is granted.
If we set up a standard New Zealand company, what tax rate will it face on its profits?
Wan LEE, Shanghai, CHINA
The corporate income tax rate in New Zealand is set at 28 percent for all incomes earned in the 2012 fiscal year and after.
In some circumstances the corporate tax rate may not apply to the profits raised by New Zealand entities doing business overseas.
For more detailed information on the tax rates which apply to New Zealand business entities, please see our guide to New Zealand tax rates.
What laws provide tax transparent status for LTCs?
We have heard a lot of discussion about New Zealand LTCs, but would like to read some of the laws and legislations ourselves. Can you point us in the right direction?
Damien WATSON, Melbourne, AUSTRALIA
The transparent status of the New Zealand Look Through Company is set out in the Income Tax Act 2007 Part H Subpart HB 1, which describes all of the conditions which must be met in order for an LTC to obtain and maintain transparent status. The Section B Subpart BD 1 sets out the tax treatment of foreign-sourced incomes derived by non-residents, and applies to the distribution of profits from the LTC due to its transparent status.
Can I apply for LTC status at any time?
We currently have two New Zealand companies. One company has been trading for over three years, and one company was registered three months ago and has not yet started any activities. Can these companies apply for LTC status, and when will they be granted the status?
John CULLEN, Darwin, AUSTRALIA
Newly registered companies have not yet needed to file an income tax return may be granted LTC status for their first income year.
Companies which are already trading may only be granted LTC status for the income year after their application is lodged.
Non-active companies may be granted LTC status for their first active year after they file for company reactivation.
Does LTC status effect what activities the business may carry out?
If our company applies for, and receives LTC status, will we still be able to carry out the same types of business and activities as before?
Steve ADAMS, Dublin, IRELAND
New Zealand regulations do not restrict the types of business and activities a company may carry out, as long as they are compliant with the laws of the country in which they operate. New Zealand companies do not face any extra regulations regarding their business activities after they are granted Look Through status.
Do we need to have Tax Agent services for our New Zealand company? What would be our advantage if we took on a Tax Agent?
Bruno HIENZ, Frankfurt, GERMANY
The definition of “tax agent” is outlined in section 34B(2) of the Tax Administration Act 1994, but as a simple explanation can be thought of as a tax specialist who prepares tax returns for at least 10 taxpayers and meets a set of criteria for qualifications and professionalism.
The Tax Agent may communicate with the Inland Revenue Department and represent the best interest of the client. While taking on a Tax Agent is not necessary, it is highly recommended as it is an invaluable service for all companies meeting their tax administration, tax filling, and bookkeeping obligations.
Clients of Tax Agents can also be granted an extension of time for filing of annual income tax returns.
What records and documents must a New Zealand company hold?
We want to ensure that our New Zealand company is fully compliant with all applicable regulations. Which records must we hold in order to meet all of our legal obligations?
Vladimir IVANOVICH, Moscow, RUSSIA
The Companies Act 1993 sets out, in Part 10 Section 189, that all New Zealand companies are required to keep the following documents at their registered office:
The company constitution, and
All the minutes of all meetings of the shareholders, and all the resolutions of the shareholders for the last seven years, and
All the minutes of all meetings of the directors, all of the certificates given by the directors, and all the resolutions of the directors for the last seven years, and
The registers of the company, and
The full names and addresses of all of the current directors of the company, and
Copies of all written communications to all shareholders during the last 7 years, and
All financial statements and group financial statements required to be completed by the Companies Act 1993 or the Financial Reporting Act 1993 for the last 7 accounting periods of the company:
The accounting records for the current accounting period and for the last 7 completed accounting periods of the company:
What documents will I receive when incorporating a New Zealand company?
Our bank requires that we provide registration documents for our new company. What documents can be provided when the incorporation is complete?
Andris OZOLS, Skrunda, LATVIA
After a New Zealand company is incorporated, the following documents will be available online from the Companies Office Register:
Shareholder and Director Consents
The documents are available as electronic copies, but we can arrange for physical copies of the documents to be affixed with an apostille and delivered to you via courier.
Is Provisional tax an extra tax a company has to pay? What are the requirements for our company in regards to Provisional Tax?
John DOE, Detroit, USA
Provisional tax is not an extra tax faced by New Zealand companies, but a system for meeting companies’ tax obligations through a set of provisional payments over the course of several preset payments throughout the year.
Every company which had a tax liability of NZD 2 500 or more in one year will be required to pay provisional tax in the following fiscal year.
At the end of the year, the cumulative provisional tax payments will be deducted from the final tax bill of the company.
Currently there are three different methods for calculating and estimating provisional tax payments, and your New Zealand accounting professional will assist you with meeting the filing and payment obligations for your company.
Please see our guide for more detailed information on Provisional Taxes.
What penalties may the Director of a company face in New Zealand?
We understand that New Zealand laws can impose strong penalties on company Directors who do not comply with national legislations. Can you provide some examples of the types of penalties and offenses that may be seen?
Manpreet SINGH, Mumbai, INDIA
Some examples of actions which may be liable to attract a penalty in New Zealand are:
Failing to maintain a share register, a penalty of up to NZD 10 000
Failing to clearly state the name of the company in any contracts or written communications, a penalty of up to NZD 5 000
Failing to register a transfer of shares, a penalty of up to NZD 5 000
Making false statements regarding the performance of the company, a penalty of up to NZD 200 000
Destroying or falsifying records of the company, a penalty of up to NZD 200 000
Carrying out fraudulent business, a penalty of up to NZD 200 000
Failing to ensure that reasonable accounting records are kept, a penalty of up to NZD 10 000
Failing to prepare an annual report within five months of the company balance date, or failing to provide the shareholders with the annual report, a penalty of up to NZD 10 000
Failing to ensure that auditors have appropriate access to the company documents, a penalty of up to NZD 10 000
What documents are required to register a New Zealand company?
We wish to incorporate a New Zealand company. What documents will we need to provide to complete the New Zealand company formation?
Steve WRIGLY, San Jose, USA
In order for the New Zealand Companies Office to authorize your New Zealand company formation you will need to provide physical copies of the following:
Certified copies of the passports of all the Director(s) for the New Zealand company.
Certified copies of utility bills as Proof of Address for all the Director(s) of your new New Zealand company.
Certified copies of the passports of all the Shareholder(s) for the New Zealand company.
Certified copies of utility bills as Proof of Address for all the Shareholder (s) of your new New Zealand company.
The Constitution for your New Zealand company.
The New Zealand company is not required to have its own unique Constitution but can upload one at the time incorporation. You may use your own Constitution, or we may assist you to find a suitable Constitution, if required. All the documents provided when incorporating a New Zealand company must be in English, if the documents are not in English they must be translated before they will be accepted by the New Zealand Companies Office. We may assist you to have your documents translated in New Zealand.
For more detail on how documents must be certified for use as Proof of Residency or Proof of Identity when incorporating a New Zealand company can be found on our website.
How to register a New Zealand company?
What process will we have to follow in order to incorporate a New Zealand company?
Ewan CLUTCH, Bournemouth, UK
Each New Zealand company must have a unique name and must comply with all regulations set out in Companies Act 1993. In order to proceed with the New Zealand company registration, please check if the proposed name for the company is already on the New Zealand company register LINK. As part of our services, we will reserve the proposed name for your New Zealand company, and provide you with confirmation from the New Zealand Companies Office when the name is granted.
Provide details for the New Zealand company
Once the name of your new New Zealand company is reserved, details of the proposed company can be submitted to the Companies Office.
In order to proceed with the application, you will have to provide:
Full name of the director(s) of the new Zealand company.
Residential address of the proposed Shareholder(s) of the New Zealand company.
Residential address for the proposed Director(s) of the New Zealand company.
The amount of share capital of the new New Zealand company.
Registered address in for the Company New Zealand. In most cases, we can help you find a registered address.
Address for service In New Zealand. In most cases, we can help you find an address for service
The Company constitution.
Provide Signed Consents
In order to complete the registration of a New Zealand company, the Companies Office will require the Shareholders and Directors of the proposed company to provide signed Consents. The signed originals of the Consents must be returned to the Companies Office and will need to be accompanied by the Proof of Identity and Proof of Residence for all Directors and Shareholders (LINK).
Once the documents are received and processed, the Companies Office may authorize the formation of the New Zealand company, and issue the Certificate of Incorporation and the Company Extract for the new company. If required, we may provide you with copies of the documents affixed with an apostille.
Can an LTC have corporate shareholders?
We would like to register a New Zealand Look through Company and use our Vanuatu company as the shareholder. Is this possible?
Peter WONG, Port Vila, VANUATU
Current New Zealand legislation specify that a New Zealand Look through Company can only have shareholders who are:
Natural Persons, or
Another LTC, or
Trustee of a Trust which has look though interest in the entity.
In most cases it will not be possible to use a foreign company as a shareholder in a New Zealand Look Through company.
Are New Zealand companies required to have a resident Director?
We do not have a New Zealand resident to act as the Director of our New Zealand company. Will we still be able to proceed with a New Zealand company registration?
David WEBBER, London, UK
Current New Zealand regulations do not require New Zealand companies to have a resident Director, and the Director of the New Zealand company can be an individual from any country.
Who can be a Director of a New Zealand Company?
We are looking to register a New Zealand company. Are there any requirements or restrictions on who can and cannot be the Director of our new company?
Peter TREMBOE, Superior, USA
Part 8 Section 150 of the Companies Act 1993 specifies that New Zealand companies must have at least one Director.
Part 8 Section 151 sets out that each Director must:
Not be disqualified from being a Director of a New Zealand company or an overseas company.
Any individual breaches the regulations and takes on the role of Director while being disqualified from being a Director of a New Zealand company can face penalties and be held responsible and personally liable for actions of the company.
What is Annual Return for a New Zealand company?
Once we complete our New Zealand company registration, when will next have to submit documents to the Companies Office, and what will we need to do?
Steven TRALLEY, Melbourne, AUSTRALIA
Part 12 Section 214 of the Companies Act 1993 sets out that every New Zealand company must deliver to the Register an Annual return confirm its details.
The Annual return will need to be submitted in the month allocated by the Register when the company was first incorporated. If required it may be possible to request for the allocated month to be changed. Companies which are subsidiaries of other New Zealand companies may be granted premission to submit their Annual Returns in the same month as their parent companies.
New Zealand companies are not required to make an annual return in the calendar year of its registration.
What if I submit my Annual Return late?
We might not be able to complete the Annual Return for our New Zealand company on time. What should we do?
Remi FRAN, Cologne, GERMANY
Companies which submit their Annual Returns after their allocated date may be charged a late fee, and in some cases the Register may take action to strike the company of the registry if the Annual Return is not filed.
In most situations, companies which are unable to submit their Annual Return on time may request for an extension of time. The Director of the company should provide the Companies Office with a letter explaining the delay and requesting more time. Customarily the Companies Office may grant up to 20 extra working days to complete the Annual return.
What is UOMI?
Can you please explain the Use of Money Interest, and whether it will apply to our New Zealand company?
Peter SHELDON, Duluth, USA
The Use-of-Money Interest (UOMI) is the rate charged by the New Zealand Inland Revenue Department on any underpaid or overpaid taxes of a New Zealand company.
The Use-of-Money interest is levied when a company underpays or overpays its Provisional Tax obligations, and the UOMI is applied to the difference between the amount owed and the amount paid by the New Zealand company.
If the New Zealand company overpays its tax obligations the New Zealand IRD will pay a 2.18 percent interest on the excess held.
If the new Zealand company underpays it tax obligations it will be liable for an 8.89 percent interest in the difference between the taxes owed and the tax payments made.
Please read our other guides for more information on Use-of-Money interest (UOMI) and provisional tax.
What are the current UOMI rates?
I understand that the New Zealand Inland revenue Department may charge an interest rate if our New Zealand company underpays its tax obligations. What will the interest rate be?
Ed TARKINGTON, London, UK
As of May 8th 2012, the Use-of-Money interest rates are:
Underpayment: 8.40 percent
Overpayment: 1.75 percent
Can New Zealand companies be FSPs?
We have already registered a New Zealand company, and are now considering providing financial services. Can we apply to be an FSP?
Cyrill Black, Portland, USA
All New Zealand business entities are eligible to become a Financial Service Provider (FSP), if they meet the required criteria.
FSP status can be granted to any New Zealand company which:
Offers Financial services from New Zealand, and
Has a physical place of business in New Zealand, and
Can transact its services and products from the place of business in New Zealand.
Please read our further guides on the requirements of an FSP and New Zealand Financial Service Provider registration.
Can a New Zealand Company be restored to the Register?
One of our New Zealand Companies was removed from the register, can it be restored?
Berg STONES, Riga, LATVIA
It is possible to restore a New Zealand company to the Register.
An application to the restore a New Zealand company to the register can be made by:
• The Shareholders of the Company• The Directors of the Company• The Company’s liquidator• A creditor of the Company
In order to be restored to the register, the New Zealand company will be required to lodge an application and submit the last outstanding Annual return and any other outstanding documents.
The New Zealand company will only be restored to the register when the Companies Office is adequately satisfied that the entity has properly addressed the reasons why it was originally removed.
The procedure to restore a New Zealand company may take as long as eight weeks.
Can New Zealand entities operate without facing taxation in New Zealand?
What are our tax planning options when using New Zealand business entities?
Maree DAWSON, Singapore, SINGAPORE
The New Zealand government maintains that non-residents will not be charged New Zealand taxation on their overseas incomes.
Currently there are three main options to consider when registering a new New Zealand entity.
New Zealand Look Through Companies are standard New Zealand companies which have applied for and been granted tax transparent status in New Zealand by the Inland Revenue Department.
All of the profits of a New Zealand Look Through Companies are deemed to belong to the shareholders of the company. The Look Through company is not charged taxation at a corporate level, and the raised profits are “passed through” to the shareholders.
If all of the shareholders are non-New Zealand residents and the profits are raised overseas, the distributions will not be eligible for taxation in New Zealand.
New Zealand Limited Partnerships are business entities which are made up of at least one Limited Partner and one General Partner.
The Limited Partnership does not face a corporate tax liability as all of its profits are distributed to its Partners, at the same ratio as their capital contributions into the entity.
If the profits raised by the Partnership are derived from activities outside of New Zealand, all of the distributions made to non-resident partners will not face a tax liability in New Zealand.
There are no restrictions on what entities must be in a Partnership, and it is possible to use companies and individuals in any jurisdiction as the Limited or General Partner in the Partnership.
New Zealand Foreign Trusts are a well established popular entity for tax planning, and are regularly utilized by international investors for succession planning, wealth management and financial security.
The distributions made by a New Zealand Foreign trust to non-resident Beneficiaries are not liable to face New Zealand taxation, as long as the Settlor of the Trust is not a New Zealander and all of the profit raising activities of the trust are conducted outside of New Zealand.
New Zealand Foreign Trusts allow for the Separation of Powers of Trustees, allowing strong control and security of the assets of the Trust.
How many shareholders can a Look Through Company have?
We understand that there is a limit on the number of shareholders a New Zealand Look Through Company may have. What is the limit?
Tracey GRAIN, Riga, LATVIA
Part YA 1 of the Income Tax Act 2007 sets out that a New Zealand Look Through Company may have no more than 5 look-though counted owners.
A look-though counted owner is an individual who has contributed a portion of the capital of the Look Through Company, or has a voting interest in the company. Any look-though counted owners who are related by blood or marriage re regarded as a single owner. Trustees may also hold the shares of an LTC in accordance with the Trust Deed, and the beneficiaries of the Trust will be regarded as the look-though counted owners.
It is important to plan the number of shareholders and look-though counted owners in the entity before initiating the New Zealand Look Through Company registration process.
What is a New Zealand Limited Partnership?
We have been recommended to use a New Zealand Limited Partnership. Can you please explain what they are?
Rowin WILSON, Manchester, UK
New Zealand Limited Partnerships are a business entity made up of at least one Limited Partner and one General Partner carrying out operations in accordance with a Partnerships Agreement.
New Zealand Limited Partnerships are tax transparent entities and do not face corporate tax liabilities in New Zealand. The profits raised by New Zealand Limited Partnerships are distributed out to the Partners at the same ratio as their respective capital contributions into the entity.
The role of the General Partner is to provide the day-to-day management of the New Zealand Limited Partnerships assets and business.
The role of the Limited Partner is to provide capital contributions into the Partnership.
The distributions made to the Partners will not face taxation in New Zealand, if the Partners are not New Zealand tax residents and the profits are raised from activities outside of New Zealand.
Are New Zealand Look Through Companies taxed?
What are the tax implications for New Zealand Look Through Companies working internationally?
Jessica POST, Edinburgh, SCOTLAND
New Zealand regulations set out that New Zealand Look Through Companies are tax transparent entities and do not face taxation at a corporate level in New Zealand.
All of the profits raised and expenses incurred by the New Zealand Look Through Company are attributed to the shareholders of the company personally.
If the shareholders in the New Zealand Look through Company are not New Zealand residents, the distributions of foreign sourced incomes which are made to the shareholders will not face a tax liability in New Zealand.
Effectively, the profits raised outside of the country by a New Zealand Look Through Company will not face taxation in New Zealand if the shareholders are non-residents
How long does it take to register a New Zealand Look through Company?
We would like to register a New Zealand Look Through Company. How long will this take?
Jeremy BLANE, Bangor, USA
New Zealand Look Through Company registration can be registered in two weeks, but can start operating within two days of submitting an application for registration to the New Zealand Companies Office.
New Zealand Look Through Companies are standard New Zealand Companies which have applied for and been granted “look through” status by the New Zealand Inland Revenue Department.
The initial step to registering a New Zealand Look through Company is to register a New Zealand Company, which can take two working days, once all of your documentation is received by the Companies Office.
Once registered, the company may apply for Look Through status with the Inland Revenue Department. if the application is filed and approved before the end of the companies first year of operations, the LTC status will be granted and in effect from the day of incorporation.
How many partners must be in a New Zealand Limited Partnership?
Are we able to set up a New Zealand Limited Partnership with only one company as a Partner?
Bill NOINE Johannesburg, SOUTH AFRICA
Current regulations require that a New Zealand Limited Partnership has at least one Limited Partner and at least one General Partner.
There are no restrictions on whether the company is an individual or a legal entity, and there are no controls on which country they are residents.
The only restriction is that the General Partner and the Limited Partner cannot be the same person/entity.
For more information regarding New Zealand Limited Partnerships, please contact us or read our information section. To register your own New Zealand Limited Partnership, please proceed to our ordering page.
What are “safe harbour” activities in a New Zealand Limited Partnership?
It is clear that the Limited Partner in the New Zealand Limited Partnership may not engage in day-to-day activities, but what are the “safe harbour” activities they may engage in?
Peter DAILY, Seattle, USA
The safe harbour activities are the designed to allow the Limited Partner to participate in the key decision of the Limited partnership while maintaining their limited liability. Under current regulations, the safe harbour activities include:
Taking part in the decisions about the amendment or replacement of the Partnership Agreement.
Taking part in the decision to approve an proposed investment.
Taking part in decisions regarding the general nature of the Limited Partnership.
Taking part in the decision of whether the Limited Partnership should be terminated entirely.
For a full list of the safe harbour activities, please see our article on Safe Harbour Activities in a Limited Partnership.
What information about Limited Partnerships is publicly available?
After we complete our New Zealand Limited Partnership registration, what information about the entity will be available online?
Wael TRIMBATH, Dubai, UAE
When the New Zealand Limited Partnership is registered, it will be visible on the New Zealand Companies Office’s Limited Partnership Register.
The following information will be publicly available on the register:
Details of the General Partner
The Limited Partnership registration form (with all details of the Limited Partner removed)
Certificate of Registration (with all details of the Limited Partner removed)
All information regarding the Limited Partner will not be made available on the public register.
How to remove a New Zealand Company from the register?
We wish to close a company we currently operate, as the business is no longer operating. What procedures should we follow to remove the company from the register?
Ed KING, Mexico City, MEXICO
An application to deregister a New Zealand company can only be made by the Shareholders, Directors or other authorized person for the company.
The Company will be required to provide the grounds for applying to be deregistered.
In order for the Registrar to proceed with the removal of the company, the Company will be required to submit a notice from the Commissioner of the Inland Revenue Department, stating that the IRD and the Commissioner have no objection to the company being removed.
The Company will also have to provide the special resolution which states that the Company is to be shut down.
The application to remove a company from the register may take up to five working days.
We can assist you in removing a New Zealand company from the register. Please contact our consultants to discuss your requirements.
What are Look Through Counted Owners?
The requirements for LTC status state that the company cannot have more than five look through counted owners. What does this mean, and how does it affect us?
Allan CAAR, Sydney, AUSTRALIA
Part Y of the Income Tax Act 2007 defines look through counted owners as:
Natural persons who have voting interests in the look through company
Natural persons who have derived income as a beneficiary of a trust which has had beneficial interest in an LTC within the last three years
Natural persons who have voting interest or market value interest in a company which has derived income as a beneficiary of a Trust which has direct or indirect beneficial interest in an LTC
The trustee of a trust which has had look through interest in the LTC within the last three years
In order for a company to apply and be granted for LTC status it must not have more than five such owners. Companies which only have natural persons as Shareholders will only need to ensure that there are no more than five shareholders in the company for the duration of its time as an LTC.
For more information about LTCs or to order an LTC, please proceed to our New Zealand Look Through Company registration section.
What is a non-active company?
We have registered a New Zealand, but have not begun trading or conducted any activities yet. Will this affect our filing obligations?
Oliver DREMBUE, Frieburg, GERMANY
New Zealand companies which are not active for an entire year are able to file a Non-active company declaration form (IR433).
Companies which file an IR433 are excused from filing income taxes for the year, and each subsequent year until the company applies to be re-activated.
Prior to filing a IR433 form, the company must first ensure that it meets all of the following criteria:
It has not derived any gross income during the year
It has no allowable deductions for the year
It has not disposed of any assets during the year
It has not been party to, or continued with, any transactions that have given rise to income or deemed income in any person’s hand, fringe benefits to any employee or former employee or a debit in the company’s imputation credit account or dividend withholding payment account.
Do Look Through Companies submit Annual Returns?
We have completed the New Zealand Look Through election, will we still need to file Annual Returns?
Steven PANG, Hong Kong New Zealand Look Through Companies are not treated differently to standard New Zealand companies in regards to their annual bookkeeping, filing and compliance requirements.
New Zealand Look Through Companies are required to submit an Annual Return every year to confirm details regarding the company.
New Zealand Look Through Companies which fail to meet their filing obligations will face the same late filing penalties as a standard New Zealand company.
Do New Zealand Look Through Companies file annual confirmations?
We have already completed the New Zealand Company registration and the New Zealand Look Through Company election, will we need to make any other filings during the year to keep the LTC status.
Peter MAO, SINGAPORE
New Zealand Look Through Companies are not required to make any extra filings or elections annually in order to maintain the LTC status.
Once the New Zealand Company obtains LTC status, it will be maintained until the company no longer meets the criteria for being a New Zealand Look Through Company.
The Look Through Company will not be required to make any new elections to maintain the status, but will still be required to fulfil all the filings obligations necessary for a New Zealand Company.
Can New Zealand Look Through Companies operate overseas?
We have a New Zealand Look Through Company. Are there any restrictions on which country the LTC may operate in?
Rod DUNNE, Bournemouth, UK
New Zealand legislation does not place any restrictions on which country New Zealand companies may conduct business and what business they may engage in, as long as all activities comply with local and international laws.
Since New Zealand Look Through Companies are standard New Zealand companies with tax transparent status, they are not restricted on what activities they may engage in and where they ay conduct their business.
What documents do I need to start a Look Through Company?
We want to start a New Zealand Look Through Company, what document will we need to provide to complete the New Zealand Look Through Company registration?
Herbert POOLE, Seattle, USA
The first set of documents needed to complete a New Zealand Look Through Company registration are the documents that are required to establish a New Zealand company.
In order to elect for LTC status, the following documents will be needed:
Shareholder resolution stating that the company wishes to elect for LTC status and meets the criteria for LTC status, signed by all Shareholder
LTC election form, completed and signed by all shareholders
Can a New Zealand Look Through Company have corporate shareholders?
We want to establish a New Zealand Look Through Company and use our Belize holding company as a shareholder, is this possible?
Peter LAREUX, Riga, LATVIA
New Zealand Look Through Companies generally only have individual shareholders. However, Part YA 1 of the Income Tax Act 2007 specifies that a New Zealand Look Through Companies may have shareholders who are:
Other New Zealand Look Through Companies
Trustee Companies who are acting in accordance with a Trust Deed
In common practice, international residents using New Zealand Look Through Companies will have shareholders who are not individuals.
Can the Registered Office be outside of New Zealand?
We want to open a subsidiary company in New Zealand, can we use our Hong Kong branch office as the Registered Office?
Tyler SINGH, HONG KONG
Section 186 of the Companies Act 1993 states that a New Zealand Company ” must always have a registered office in New Zealand.”
Companies which do not comply with this requirement may be struck of the New Zealand Companies Register.
What KYC documents does the Companies Office require?
We are looking at New Zealand Company registration, what are the Know Your Client (KYC) documents that are required to complete the procedure?
Robert TREMBATH, Bangor, USA
In order to complete the New Zealand company registration process, the Companies Office requires documents in order to verify:
the identity of all natural persons signing documents in regards to the application for the New Zealand Company registration
the residential address of all natural persons signing documents in regards to the application for the New Zealand Company registration
the name, company number and address for all legal entities signing documents in regards to the application for the New Zealand Company registration
For more information on the document requirements for registering a New Zealand company, please see our article on New Zealand document requirements, or contact us today.
How can we speed up our New Zealand Company registration?
We need to establish a new New Zealand company quickly. What can we do to speed up the process as much as possible?
Jaysen MCDERMOTT, Edinburgh, SCOTLAND
The New Zealand Companies Office can process a New Zealand company registration in one working day, if all the necessary documentation is provided.
The biggest delays that can arise during a New Zealand company registration revolve around inadequately certified documents and delivery times.
The simplest step you can take to speed up the registration process is to ensure that you send all your documents to our office via a signed international courier. Provide us with a tracking number and inform us of the date of shipment, so we can process the documents as soon as they arrive, and inquire about any delays as soon as they arise.
All documents submitted to the Companies Office must comply with New Zealand regulations in order to be accepted and used in registering a New Zealand company. Documents which do not clearly meet the requirements may cause delays, and may even be rejected by the Companies Office.
Please read our detailed guide to New Zealand document requirements for a full breakdown of what documents are required and the certification which must be affixed to the documents.
If you unsure whether your documents will be accepted, please complete our Document Checklist or contact us to talk to our consultants. Do I need to be in New Zealand to start a company?
Will I need to travel to New Zealand to complete the New Zealand company registration process?
Michell SLOANE, Vancouver, CANADA
There is no requirement for the Directors or Shareholders of a new New Zealand company to be in the country in order to complete the company registration process.
The Directors and Shareholders will be required to sign consent forms, and the originals will need to be submitted to the Companies Office.
During the New Zealand company registration process we will act on your behalf and supervise your application and make all the submissions to the New Zealand Companies Office, and will relay all necessary information back to you. How do I make sure my New Zealand company registration documents will be accepted?
We want to start a New Zealand company. How do we make sure that our documents will be accepted by the Companies Office?
Peter GIRVEN, Copenhagen, DENMARK
We have compiled a checklist that you can use before sending us your documents for registering a New Zealand company.
The checklist will help you determine if your documents will be accepted by the New Zealand Companies Office.
If you answer all of the questions in the checklist with a “YES”, your documents are likely to be accepted. If you are answer “NO” to any of the questions we cannot guarantee that your documents will be accepted. You may still send the documents to us at your own discretion, and we will attempt to proceed with the New Zealand Company registration process.
Our checklist is available for download.
Can New Zealand Companies change names?
We have already registered a New Zealand company, but now we would like to change the name of the New Zealand Company. Can we do that?
Peter GIRVEN, Dublin, UK
All New Zealand companies can change their name.
We can assist you to complete the name change for the company. In order to carry out the process, the company will have to pass a resolution, detailing the name change and consenting for the name to be changed. We will arrange for the name change to be completed by the New Zealand Companies Office. Once completed, the new company name will be reflected on the companies register. The new name, and all of the old names of the company will be listed on the Certificate of Registration for the company.
Does the name of a New Zealand company change when it becomes an LTC?
We are ready to apply for New Zealand Look Through Company status. Will our company still be a LTD, or will the name change to LTC?
Stewart SINGH, Mumbai, INDIA
As the Look Through Company status is granted by the Inland Revenue Department it will not affect the name or registration of the company and it will still be a Limited Liability company ending in LIMITED or LTD. How many Directors and Shareholders must a New Zealand Company have?
We are preparing to register a New Zealand company. What is the maximum number of shareholders that we may have in the Company?
Donna WAY, Port Vila, VANUATU
The Act does not set out a maximum number of Shareholders or Directors.
The only restriction that may be placed on a New Zealand company, is the shareholder limit placed on Look Through Companies, which may have a maximum of five shareholders.
Are New Zealand Look Through Companies required to pay GST?
If we obtain Look Through Status for our company, could we still be liable to pay GST?
Steven IT, SINGAPORE
New Zealand Look Through Companies are still required to follow all the same tax filing and regulations as a standard New Zealand company. However, for the purposes of calculating income tax obligations, New Zealand Look Through Companies are considered to be tax transparent.
Any other tax obligations which are raised through the activities of the New Zealand Look Through Company will be need to be dealt with by the company, these can include GST, PAYE, etc.
Can we translate our incorporation documents ourselves?
We would like to incorporate a new New Zealand company. If our Proof of Identity documents are not in English, can we translate them ourselves?
Rod, KYLE, New York, USA
In order for documents to be accepted for Proof of Identity and Proof of Residence they must be in English. If the documents are not English they must be translated before they will be accepted by the Companies Office.
The translation must be completed by a recognized or certified translation agency in order to ensure that the information provided is accurate when translated.
Who can be a Limited Partner in a New Zealand Limited Partnership?
We are about to start registering a New Zealand Limited Partnership, but first need to know if there are any restrictions on who may be a Limited Partner.
Karl SAGER, Auckland , NEW ZEALAND
According to Section 18 of the Limited Partnership Act 2008 “…Any person may be a partner of a limited partnership.”
As there are no restriction placed on who may be a Limited Partner in the New Zealand Limited Partnership, the role may be taken up by an individual or company from any jurisdiction in the world.
The Limited Partnership may be planned and structured to include a Limited Partner from a specific jurisdiction, in order to bestow the company with pre-planned commercial or business advantages.
For more information on how your proposed Limited Partner could interact with a New Zealand Limited Partner, please contact our consultants to discuss your situation today.
Who can be a General Partner in a New Zealand Limited Partnership?
We need to know if there are any restrictions on what sort of entity may be used as a General Partner in a New Zealand Limited Partnership.
Dean COOK, Seattle, USA
Section 18 of the Limited Partnership Act 008 specifies that “…Any person may be a partner of a limited partnership.”
New Zealand regulations do not place restrictions who may or may not be a General Partner in a New Zealand Limited Partnership, and the role may be taken up by an individual or business entity from any jurisdiction in the world.
In some cases it may be advantageous for the Limited Partnership to use a General partner from New Zealand.
For help with planning, structuring or registering you New Zealand Limited Partnership, feel free to contact us and talk to our consultants today.
Are Limited Partnerships required to have a Partnership Agreement?
We would like to set up a Limited Partnership, do we need to complete and sign a Partnership Agreement?
Liam VINK, Pretoria, SOUTH AFRICA
Section 9 Part 1 of the Limited Partnership Act 2008 states that ” a limited partnership must have a written partnership agreement.”
At the time of registration of the Limited Partnership, the Partnership Agreement will act as a contract between the Partners, dictating the affairs of the Limited Partnership and the conduct of its business.
If the Limited Partnership involves any individuals or entities which are resident or registered outside of New Zealand, the Partnership Agreement will need to be submitted alongside the application to register a Limited Partnership. At the time of registration, the Partnership Agreement will need to be signed by all of the Partners and will need to contain details of each Partner’s capital contributions into the Limited Partnership. We can provide you with our standard New Zealand Limited Partnership Agreement, which can be tailored for your particular situation. For more information on registering a New Zealand Limited Partnership or completing a Partnership Agreement, please contact us and talk to our consultants. What can New Zealand Limited Partnerships be named?
We will register our New Zealand Limited Partnership soon. Is there anything we have to take into account when choosing a name for the Limited Partnership?
Jim VERRO, Auckland, New Zealand
New Zealand regulations specify that the name of a proposed Limited Partnership must:
Not contravene any New Zealand Acts or regulations, or use any words that are restricted, or
Not be offensive, in the opinion of the Registrar, or
Not be identical or nearly identical to the name of any Limited Partnership already registered in New Zealand, or
End with ‘Limited Partnership’, ‘LP’, or ‘L.P.’.
Before lodging an application to register a New Zealand Limited Partnership it is advisable that the proposed name of the entity is free to use and meets New Zealand regulations. If you would like some assistance with checking the name please feel free to contact us and talk to our consultants.
What are the address requirements for New Zealand Limited Partnerships?
When setting up a New Zealand Limited Partnership, what consideration should we take regarding the addresses for the entity.
Steven NASH, Toronto, CANADA
All New Zealand Limited Partnerships are required to have the following addresses:
The Registered Office Address is the official address of the New Zealand Limited Partnership, as recorded by the New Zealand Companies Office. We can provide you with Registered Office Address services for your New Zealand Limited Partnership.
The New Zealand Limited Partnership is required to keep all of its corporate and financial documents at the Registered Office.
The Registered Office address may be changed by the General Partner, if required, but the Companies Office must be informed of the change, and all the details of the new address must be maintained on the public register.
It is a requirement that the Registered Office Address is a physical address, and cannot be a private bag or any form of “virtual office”.
The Address for Service for a New Zealand Limited Partnership is the location at which the entity may be served with legal notices.
It is a requirement that the Address for Service of the New Zealand Limited partnership is a physical address, and cannot be a private bag or any form of “virtual office”. Postal Address
The Postal Address of the Limited Partnership may be postal box or private bag or the personal residential address of a Partner.
Mail correspondences to the Limited Partnership will be sent to the Postal Address specified. It is acceptable for the Postal Address to be the same as the Registered Office Address.
All electronic communications with the Limited Partnership will be conducted through the specified Email Address.
What is the lifespan of a New Zealand Limited Partnership?
We plan to use a New Zealand Limited Partnership for our new business structure. Do New Zealand Limited Partnerships have pre-set lifespan which we should take into account?
Peter WEAKE, Lanarka, CYRPUS
The regulations for New Zealand Limited Partnerships do not place a preset lifespan on the entity, and the entity can operate indefinitely if desired.
Further, the New Zealand Limited Partnership does not need to be dissolved and reformed if the Partners are changed, allowing the Partnership to operate into the future despite changing situations and conditions.
Can we obtain a Certificate of Good Standing?
Our bank requires us to provide a Certificate of Good Standng for our New Zealand Company. How do we get a copy of the certificate?
Ian VERRON, Portland, USA
As of October 1st 2010 the New Zealand Companies Office no longer provides Certificates of Good Standing for companies.
If a Certificate of Good Standing is requested as evidence of incorporation or in order to prove particulars of the company, it is possible to provide a Certificate of Incorporation or a Company extract.
Under typical business practices, the Certificate of Incorporation and Company Extract will be adequate documentation of they are provided with an apostille affixed.
We can assist you to obtain corporate documents for any New Zealand company, and we can arrange for the documents to be affixed with an apostille and sent to internationally. Please contact our consultants to obtain your New Zealand company documents.
After we complete out New Zealand company registration, will we need to register for Goods and Service Tax (GST) in New Zealand?
Tyler BURDEN, Seoul, KOREA
Any New Zealand company which meets any of the following conditions is required to register for GST in New Zealand:
In the last 12 months the company carried out taxable activities and saw turnovers of over NZD 60 000, or
In the next 12 months the company intends to carry out taxable activities and expects to see a turnover of over NZD 60 000, or
In the last 12 months the company carried out taxable activities and had a turnover of less than NZD 60 000, but included GST in its prices.
New Zealand companies which sell their capital assets and exceed the NZD 60 000 turnover limit are not be required to register for GST, if the sales occurred because:
the company is replacing its major assets, or
the company is ceasing its taxable activities, or
the company is making a significant reduction to the scale of its taxable activities.
All New Zealand companies are required to register for GST within 21 days of becoming liable to register. The Inland Revenue Department may impose penalties on any New Zealand company which did not register for GST within a reasonable timeframe.
How do I certify my Proof of Identity?
When we provide our Proof Of Identity for a New Zealand company registration, how should the documents be certified?
Liam BROOKS, Michigan, USA
When assessing Proof of Identity document for a New Zealand company registration, the New Zealand Companies Office will inspect the certification affixed to the document and will also verify the contact details of the individual making the certification.
At an absolute minimum, the Proof of Identity documents must contain details on the nature of the certification (e.g. “True Copy of an Original”) and must bear the stamp or seal and the signature of the certifier. The contact details for the certifier may be provided on a separate document, and should be verified by the certifier. If documents are certified to this standard they may be accepted by the Companies Office, but could face delays as the extra checks are conducted on the document and the certifier.
Ideally, all Proof of Identity documents submitted to the Companies Office should be affixed with the following:
The full name, position and seal of the individual making the certification, and
The seal of the individual making the certification, and
The full contact details of the individual making the certification, and
Description of the nature of the certification, and
The date of certification, and
Description of the documents being certified, and
The signature of the certifier.
If the document is more than a one page, the certification can be affixed to a single page, but a clear indication must be provided of how many pages are being certified.
Proof of Identity Document which are appropriately certified may be accepted quicker by the Companies Office and may be easier to verify if required.
We have completed the New Zealand company registration and are opening a bank account, and now need a copy of the Company extract with an apostille. Can you help?
Peter PLATE, Larnaka, CYPRUS
Company Extracts can be obtained for every New Zealand Company, even if it has already been struck off.
Copies of the Company Extract can be downloaded online at the Register of New Zealand companies.
As the Company’s documents are available on the internet, it is often not necessary to have the Company extract certified if it is being used within New Zealand.
If the Company Extract for the New Zealand company is being used outside of New Zealand it is recommended for the document to be affixed with an apostille, so it will be recognized as a True Copy of the document in any country participant to the Hague Convention.
If you require a Company Extract, feel free to contact us, and our consultants can process your order immediately.
We can arrange for your documents to be affixed with an apostille for use outside of New Zealand. If you require an apostille on the Company Extract for your New Zealand Company, please talk to our consultants who can have the document affixed with an apostille and ready to be sent back to you within three working days.
We require a Certificate of Incorporation for our New Zealand Company. How do we obtain a copy of the document?
Lewis LITTLEMAN, New York, USA
Certificates of Incorporation can be obtained for every New Zealand Company.
Digital copies of the Certificate of Incorporation can be obtained from the Companies register.
Printed copies of the Certificate of Incorporation are often adequate for use in New Zealand, as the document can be verified by any individual with access to the internet.
However, in order for the Certificate of Incorporation to be recognized as a genuine True Copy while outside of New Zealand, it will need to be affixed with an apostille.
We can arrange for the a Certificate of Incorporation to be affixed with an apostille in New Zealand.
To order a Certificate of Incorporation and to have a Certificate of Incorporation affixed with an apostille, please contact our consultants to place an order.
What kind kind of document will work as Proof of Residence for a New Zealand Company registration.
Rose KING, San Jose, USA
The New Zealand Companies Office maintains a number of clear criteria regarding documents which may be used as Proof of Residence when incorporating a New Zealand company.
In order for a document to be accepted as Proof of Residence, it must meet the following requirements:
Contain the name and contact details of the issuer, and
Be addressed to the individual applying to be the Director/Shareholder of the New Zealand Company, and
Contain the full residential address (as provided to the New Zealand Companies Office) of the individual applying to be the Director/Shareholder of the New Zealand Company, and
Be sent to the residential address of the individual within the last three months, and
Be issued no more than three months ago, and
Typically these criteria can be satisfied with a recent utility bill issued to the individual at their residential address.
Can New Zealand Look Through Companies have preferential shares?
Do all the shares in our Look Through Company have to be equal, or can we have preferential shares?
Neil DOOLE, London, UK
The New Zealand Inland Revenue Department sets out that all the shares in a New Zealand Look Through Company must have the same rights to vote on:
The distributions made by the LTC
Any changes or amendments to the constitution of the LTC
Any variations to the capital of the LTC
Any appointments or elections of Directors to the LTC
Any acquisition or cancellation of shares
How to obtain Company extract for a struck off company?
We require a Company Extract for a New Zealand Company which was previously struck off by the Registrar. Can you assist us, please?
Peter MAYHEW, London, UK
Company Extracts can be retrieved online for all New Zealand Companies, including New Zealand Companies which have been previously struck off.
The Company Extract will be provided as PDF and can be verified online when used in New Zealand.
In most cases, if the Company Extract of a New Zealand Company is used overseas, it will need to be affixed with an apostille in order to be recognized.
We can arrange to obtain a Company Extract for a struck off Company on your behalf, and we would be glad to organize to have the document affixed with an apostille.
If an apostille is not required, we can also arrange to have the document certified by a New Zealand Notary Public or a New Zealand Court official.
Do New Zealand Look Through Companies need to apply for a GST number in New Zealand?
Since our Look Through Company will not conduct any business in New Zealand, do we still need to register for a New Zealand GST number?
Peter WELSH, Duluth, USA
New Zealand regulations specify that all companies which meet either of the following criteria are required to register for GST in New Zealand:
The turnover or taxable activity for the company in the previous 12 months exceeds NZD 60 000 in the previous 12 months, or
The turnover or taxable activity for the company is expected to exceed NZD 60 000 in the coming 12 months.
Companies which neglect to register for GST within 21 days of becoming liable to register may face penalties from the New Zealand Inland Revenue Department. Do my documents need to be certified to be used by the Companies Office?
Is it absolutely necessary to have all our documents certified before sending them to New Zealand. Will a simple copy not suffice?
Peter ANDREWS, London, UK
In order for the Companies Office to verify the identity and residential address of the Shareholders and Directors of a new New Zealand company it must obtain documents proving their name and address.
Unless the documents are presented as originals in English, the Companies Office requires that they be certified in order to ensure that the copies are accurate.
The certification must be completed by a lawyer, notary, court official or someone of equal standing in the community. The certification must also contain the full contact details of the individual making the certification.
Are there restricted names for New Zealand Companies?
When we are choosing a name for our New Zealand company, is there any special considerations or restrictions we should keep in mind?
Sully RICHARDS, SINGAPORE
Under New Zealand legislations some names and words are protected and restricted, and cannot be used in the name of a New Zealand company.
When registering a new New Zealand company we recommend that you check whether the proposed company name is currently available, and the New Zealand Companies Office will run checks to see if the name contravenes any New Zealand legislation.
None of the names below may be used in the name of your new New Zealand company.
Co-operative (unless it is a co-operative company)
Olympic Games Parliament
Post Guide Queen Racing Conference
Soil Conservation Centre Tawny Owl
Toc H UN
Can a company use its reserved name before the registration process is complete?
We have already reserved the name for our New Zealand Company but have not completed the registration process, can we begin using the name of the anyway?
Iliya DMITROS, Mahe, SEYCHELLES
No, the name reserved for a company registration cannot be used until the registration process is completed and confirmed by the New Zealand Companies Office.
Reserving a company name is only intended to ensure that the chosen name for your New Zealand Company is not used by someone else while you are completing your application. Once the reservation is made, the name will be held for only 20 days and will become available for use to the public.
Can I certify documents at a New Zealand embassy?
Do we have to use a lawyer to certify our documents or can we turn to a New Zealand embassy for assistance instead?
John DUNNE, Moscow RUSSIA
If you are in a location with a New Zealand embassy or diplomatic mission you may be able to have your documents certified there, instead of turning to a local lawyer or Notary Public.
In many cases it can be easier to have documents certified by a New Zealand diplomatic figure, as the certification will be in English and can be tailored to suit the exact requirements of the Companies Office, and will be affixed with a seal which is readily accepted by the New Zealand Companies Office.
If required, we can contact the New Zealand diplomatic mission closest to you and organize for your documents to be certified to the required standards.
Can New Zealand Company Registration be completed without presence?
Is it necessary for me to come to New Zealand to complete the New Zealand Company registration process?
Rowan STYLES, London, UK
There is no requirement for the Directors or Shareholders of a proposed New Zealand Company to come to New Zealand as part of the company registration process, and every step of the company registration process may be completed remotely.
In order to complete the company registration all of the Directors and Shareholders will be required to submit verified copies of their Proof of Identity and Proof of Residence documents in accordance with all document certification requirements. (For your convenience, please follow our Document Checklist to ensure that the all of the documents presented for the New Zealand company registration meet the certification criteria of the New Zealand Companies Office)
All the Directors and Shareholders will also be required to complete and submit original signed Consent forms, verifying that the individuals and entities elected as Shareholders and Directors consent to holding the position.
What is Shareholder Consent?
I understand that Shareholders have to provide a Consent during New Zealand Company registration. Can this Consent be verbal?
Michael MCKAY, London, UK
Shareholder Consents are forms which need to be signed and returned to the New Zealand Companies Office by the Shareholder as part of the New Zealand company registration process.
The Shareholder Consent is a written indication to the Companies Office that the individual (or authorized person) takes on the duties of a Shareholder for the new New Zealand company. Signing the Consent also indicates that the signee understands and complies with all the regulations for being a Shareholder, and also confirms their the full name and residential address to the Companies Office.
The original of the signed Shareholder Consent must be returned to the Companies Office, where the signature and information will be checked and, if approved, the Company can be registered.
What is the Director’s Consent? Can I provide you with a scan of the Directors Consent? Do I have to courier it to you?
Mariana BORKOV, Hong Kong
Directors Consents are documents which must be signed by all individuals elected to become Directors in a New Zealand Company.
The Director Consent confirms to the Companies Office that the individual consents to being a Director, and also confirms that they are not disqualified from being a Director.
The original of the signed Director Consent must be returned to the Companies Office before the New Zealand company registration process can continue.
Can I submit scans of the Consent forms?
Can we send scanned copies of the Consents for the New Zealand company registration?
Lea CORN, Berlin, GERMANY
Scanned copies of the Shareholder and Director Consents will need to be provided to the New Zealand Companies Office, and the original of the document will also need to be provided to the Companies Office before the New Zealand Company registration can be approved.
Can a company be a Shareholder of a New Zealand company?
I have a company registered in Belize and would like to use it as the Shareholder in a new New Zealand company. Is this allowed?
Tim JONES, Belmopan, BELIZE
New Zealand regulations do not place any restrictions on local or overseas companies being Shareholders in a New Zealand company.
Are New Zealand companies required to have a Secretary?
Will my new New Zealand company be required to have a Secretary, like in my Singapore company?
Aiden KONG, SINGAPORE
New Zealand regulations do not require companies to appoint a Secretary.
Does New Zealand place any restrictions on who can be a Director, and if they need to meet any particular criteria. Are there any restrictions on what country a Director can be from?
Tony MARTIN, New York, USA
What are the address requirements for a New Zealand company?
Our business already has a registered office for our Hong Kong company and a physical offices at our bases of operations in Riga and in Bangkok, can we use any of these locations for the address of the New Zealand company.
Brad MILLER, Bangkok, THAILAND
New Zealand companies are required to have a Registered Office and an Address for Service in New Zealand at all times, and a location outside of New Zealand cannot be used for these address.
The Registered Office is the address at which the company maintains its full set of company records. The address must be a physical location, and cannot be a virtual office, mail service, or any similar service.
The address to which legal documents of a company can be delivered. Often this address will be the recorded as the Registered Office of the company, or the address of the company’s accountant or legal counsel.
New Zealand companies may keep some records at a location other than its Registered Office.
Address of the Share Register
The location at which the business maintains a physical list of all the Shareholders of the company. If the company chooses not to hold its Share Register at its Registered Office, it must inform the Companies Office within 10 days of the move. The Address of the Share register must be a physical location and cannot be a virtual office, mail service, or any similar remote service.
If the company chooses to maintain its physical records at a location other than the registered office, it must inform the Companies Office of this new location.
The address that the Companies Office will use when contacting the company in regards to administrative measures. Often this address will be the Registered Office of the company or the address of the company’s accountant or legal counsel.
Our business is currently involved in tech research, but we are looking at expanding into online development and software distribution, is there any restrictions on New Zealand businesses which might affect us? David WHITE, Perth, AUSTRALIA
Are New Zealand companies required to have a Registered Office?
I would like to establish a New Zealand company but do not wish to pay for a Registered Office. Is this possible?
Woo LING, Beijing, CHINA
New Zealand companies are required to have a Registered Office address in New Zealand, and will need to disclose the address to the Companies Office at the time of incorporation. What can a New Zealand company be named?
What are the rules regarding the name of my new New Zealand company? How can I tell which names are already in use? Lukasz KOWALSKI, Warsaw, POLAND
New Zealand companies are required to have unique names which end with “LIMITED” or “TAPUI (LIMITED)”. Before submitting an application for a New Zealand company to us, it is recommended to first check that the proposed name is available using our company name check tool. Our New Zealand company name check tool searchers the New Zealand companies Register and displays any names that are identical to the proposed name.
In order to be approved by the Companies Office, the name of the proposed company must also:
Not be regarded as being offensive (be obscene, contrary to public policy, or be likely to offend any particular section of the community or a particular religion)
Please use our New Zealand company name check tool to search the New Zealand companies Register and find any names that are identical to your proposed name.
Can we change the name of a New Zealand?
Our New Zealand company has been operating for several years, and we would now like to change its name to reflect its new products and services. Is this a possible?
Adam Crackers, London, UK
New Zealand regulations set out that a New Zealand company may change its name, as long as the newly selected name complies with all conditions prescribed for naming a New Zealand company.
In order to change the name of the New Zealand company, the shareholders of the company must complete and sign a Shareholder Resolution to change the name of the company. We will process the application to change the name of the Company and inform you of the results.
Once approved, the change in the name will be reflected in the public Register of the Companies Office. The Certificate of Incorporation of the company will also contain details and dates of all previous changes to the company’s name.
The right of the company to change its name is described in the Companies Act 1993 Part 5 Section 23.
How long does it take to incorporate a New Zealand company?
I am based in Canada, and want to incorporate a New Zealand company. How long could the procedure take?
John SMITH, Vancouver, CANADA
New Zealand companies can be incorporated in less than one working day, once all the required documents are delivered to the New Zealand Companies Office.
Once you confirm your order, we will send you all the necessary documents to sign, and you will need to return the documents to our office along with your Proof of Identity and Proof of Address. The Companies Office will take only one working day to process the application and your provided documents before approving the incorporation.
Can a New Zealand company provide financial services?
We wish to start a new company to offer financial services such as FOREX in Argentina, will we be able to use a New Zealand entity for our business?
Gonzez GEHIN, Buenos Aires, ARGENTINA
In order for a New Zealand company to offer financial services in New Zealand it must first be registered as a Financial Services Provider (FSP). However, if the company offers financial services only overseas and does not have a place of business in New Zealand, it will not be obligated to register as an FSP in New Zealand, but will still be bound to follow the regulations of the jurisdictions where it offers its products.
What are the requirements for authenticating copies of documents?
At the moment I am located in Mexico and do not wish to send original copies of my documents to New Zealand if I am not required. Is is possible to simply send copies?
Jose RODRIGUEZ, Puebla, MEXICO
In order for a copy of a document to be accepted by the New Zealand Companies Office, the attestation on the copy must:
Be made by a Notary public, and
Contain the name of the individual making the attestation, and
Contain the full contact details of the individual making the attestation, and
Contain the seal of the individual making the attestation, and
Describe the nature of the attestation (e.g. “True Copy”), and
What if my identity documents and Proof of Residence documents are not in English?
I currently live in Beijing and my utility bill is not in English, will it be accepted as Proof of Residence?
Any documents provided to the Companies Office must be in English or Maori in order to be accepted.
All documents not in English will need to be accompanied by a translation into English. The provided translation must:
Be completed by a recognized or certified translation agency, and
Contain the full and accurate contact details of the translator, and
Contain the seal of the translator, and
Contain verification from the translator that the document is a true and accurate translated copy of the original document.
The translation may be completed in your own country with a translator of your choice. In some cases the documents may also be translated at your nearest New Zealand embassy.
If you are unable to obtain a suitable translation into English, we can arrange for the documents to be translated by the New Zealand Department of Internal Affairs to meet all of the appropriate New Zealand standards. The charges for the service will vary based on the length of the document, but in some cases it may be acceptable to complete a “selective translation” only.
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