New Zealand consists of several islands; the North and South Island plus a number of smaller islands. The capital and seat of government is based in Wellington in the North Island and the overall population is around 4.5 million.
New Zealand has a progressive economy based largely upon banking and finance. In the last 30 years the country has experienced significant structural reform and economic liberalism. There have been several reforms such as the removal of exchange controls allowing the free flow of capital in and out of the country. The government has also implemented various incentives in order to encourage greater investment in New Zealand.
Key benefits of New Zealand:
- New Zealand is a safe, stable and secure country which offers considerable benefits.
- The New Zealand legal system is based on English Common Law
- New Zealand is a full member of the Organization for Economic Cooperation and Development. (OECD)
- New Zealand has an efficient market driven economy with business stability, extensive free trade agreements and active government support for investors.
- New Zealand is perceived as being a legitimate tax jurisdiction whilst providing many advantages of an offshore jurisdiction.
- New Zealand is consistently rated as one of the best places in the world in which to do business
- New Zealand is the first western country to complete a Free Trade agreement with China., The New Zealand China Free Trade Agreement.
- Ease of access to Australia is guaranteed through open market trade agreements.
The Companies Act 1993 governs the creation of a company. These can take the following form:
- Partnerships – Limited Partnership regime is governed by the Limited Partnership Act 2008.
- Joint Ventures
- Foreign Branches
The most common form of entity for foreign investors is the limited liability company.
New licensing regulations for Trusts & Service Providers in Hong Kong
As per new regulations, all Hong Kong businesses providing Trustee Services, including Corporate Service Providers will not be able to operate without a valid trading license after March the 1st 2018. The new scheme is designed to better regulate individuals carrying out services within the financial sphere in Hong Kong and will be overseen and administered by the Hong Kong Companies Registry.
The terms of Hong Kong's new register of significant controllers and what it means for companies
As per new legislation, from March 1st 2018, every company incorporated in Hong Kong will be required to keep and maintain a register of all persons who have significant control of the company. The record must be updated as required and kept at the registered company address, even if there are no persons of significant control.
The pros & cons of European Passport-by-Investment schemes
In a bid to rebuild the dwindling economy in Cyprus shortly after the financial crisis four years ago, the government launched a passport-by-investment program to temp wealthy foreigners with citizenship in exchange for an investment of no less than €2 million into the Cyprus economy.
Using the Cyprus Non-Dom scheme for beneficial tax planning
In an attempt to improve and simplify the Cyprus tax system as well as to remain a highly compliant and attractive jurisdiction, the introduction of the non-domicile (shortened to Non-Dom) scheme aims to give Cyprus a competitive edge over other jurisdictions.
How are Cyprus banks handling the island's high rate of NPLs? Can more be done to combat them?
It is no secret that the Cyprus banking sector is struggling with the overwhelming level of Non-Performing Loans (NPLs), no matter the efforts exerted by the main banks in Cyprus by following conventional banking models to balance their profit/loss reports, NPLs remain to be the proverbial hole in the bucket.
Income tax exemptions for expats living in Cyprus: what are your options?
Situated in the Eastern Mediterranean, the Republic of Cyprus boasts a strategic geographical location at the hub of three continents; Europe, Asia and Africa and a pleasant sunny climate year round.
The UK Persons of Significant Control Register & its impact on companies
The requirement to maintain a register of people with significant influence or control, more commonly known as the PSC register was introduced to mandate all unlisted companies in the UK, including LLPs and dormant companies to maintain a register identifying those with significant control over a company.
Cyprus implements the Hague Convention, legally recognising Trusts as a type of Equitable Law
This year, the Republic of Cyprus ratified The Hague Conventions’ definition of the legislation applicable to trusts and furthering the regulations surrounding their recognition. Cyprus common law now recognises trusts as a unique legal institution under equity.