About New Zealand
New Zealand is an island state in the Pacific Ocean, a part of the United Kingdom, was one of the first state proclaimed nuclear-free status.
New Zealanders are anxious to the environment, which allowed saving wonderful natural places and scenic landscapes. Wild jungles and small coves live peacefully together here, which attracts nature lovers from all over the world.
You should also remember about such benefits of New Zealand as territorial principle of taxation, the most convenient procedure of registration and high level of confidentiality.
LEGISLATION
Company activity in New Zealand is regulated by Companies Act 1993.
The legislation provides some corporate forms:
- entrepreneur,
- partnership (one of the partner must have unlimited liability),
- Look Through Company (LTC),
- Limited Liability Company,
- trust.
Foreigners prefer Limited Liability Company (Limited, Ltd) and LTC.
COMPANY REGISTRATION IN New Zealand: requirements
LIMITED LIABILITY COMPANY (LTD):
- The minimum authorized capital – not established. Payment by the moment of incorporation in not required.
- Shares – registered with par value. Bearer shares are not allowed.
- Director – at least 1 individual or legal person, no residency required.
- Members – at least 1, individual or legal person, no residency required. 25 members maximum.
- Secretary – not required.
- Confidential information: information about directors and shareholders if the nominee service is used.
- Company is obliged to keep and submit an annual financial report. Companies, in which most shareholders are non-resident or more than 25% of shares are owned by non-residents, have to be audited (it is recommended to use nominee members who are residents of New Zealand).
- Registered office in New Zealand is required.
Look Through Company (LTC):
- Structure - differs from a limited liability company in that it must have no more than 5 shareholders (they cannot be residents).
- The source of income of such a firm cannot be located in New Zealand.
- Under these conditions, the company does not pay corporate tax, and taxes are paid by the shareholders in whose interests the profit is distributed.
TAXES
Corporate tax - 28%. If the company is used in conjunction with foreign trust, it is possible to reduce tax rate to 3,3%.
VAT – 15%.
Capital gains tax - no.
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AGREEMENTS ON AVOIDANCE OF DOUBLE TAXATION
New Zealand concluded lots of agreements on avoidance of double taxation, but not with Ukraine.
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FEATURES
New Zealand is not included in lists of tax havens of any state.
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If you need to open a company in New Zealand, please contact our lawyers for advice:
+38 (098) 737-88-88
We will help you buy an offshore company in New Zealand or in any other jurisdiction on the most favorable terms.
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