Fact File Supplied By
John W Hart Limited
Greenwich Mean Time +12.00.
International – includes Wellington, Auckland, Christchurch, Queenstown, Dunedin.
International Dialing Code
Personal income tax
0 to NZ$14k -10.5%; NZ$14,001 to NZ$48k – 17.5%; NZ$48,001 to NZ$70,000 – 30%; NZ$70,001 and up to NZ$180,000 – 33%; NZ$180,001 and above – 39%.
Corporate income tax
TIEAs in force
Anguilla, Bahamas, British Virgin Islands, Cayman Islands, Cook Islands, Curacao, Dominica, Gibraltar, Guernsey, Isle of Man, Jersey, Marshall Islands, Netherlands Antilles, Niue, Saint Vincent and the Grenadines, San Marino, Sint Maarten, Turks and Caicos Islands and Vanuatu.
Signed but not yet in force
Bermuda, Saint Christopher and Nevis
Shares not required to be denominated in money on the registry.
Minimum authorised capital
Minimum share issue
Available from company providers but not so relevant because of rapid incorporation.
Timescale for new entities
Can be set up within 24 hours with local directors and shareholders. Where there are foreign directors or shareholders, incorporation cannot be completed until certified copies of ID and proof of address are provided to the Companies Office.
NZ$148.05, including GST of 15%.
NZ$57.20, including GST of 15%.
Companies must have a New Zealand-resident director. An exemption will be available if a director is resident in an 'enforcement country' and is a director of a company that is registered in that country. Australia is presently the only prescribed enforcement country.
On notice by a director. Frequency set out by company’s constitution. No minimum.
Yes (trusts no disclosure). Beneficial owners not disclosed.
Share register must show names of shareholders.
Public share registry
Company must take register available for inspection by public.
Annual meeting, or 75% shareholders' resolution.
Financial statements only have to be registered with the Registrar of Companies if a company is an "FMC reporting entity", a "large overseas company", or a "large" New Zealand company with 25% or more overseas ownership. "Large" means total assets exceeded NZ$66m or total revenue exceeded NZ$33m in each of past two accounting periods (reduced to $22m/$11m for overseas companies and subsidiaries of foreign corporates).
Only mandatory if financial statements have to be registered. Large companies held
by less than 25% overseas owners may opt out.
Must be in New Zealand. Company must have address for services in NZ.
Companies may emigrate or immigrate.
Company Naming restrictions
Name forbidden that: 1. Contravenes enactment 2. Identical to another company 3. Is oﬀensive. Must end with “Limited” or “Tãpui (Limited)”.