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.
Crypto-currency Start-ups Buying False Reviews is Destablising Reputable Investment Sources
When cryptocurrency issuers want reviews for their coins, reports have surfaced that several prominent companies have been found offering money to advertisers in exchange for positive appraisals.
Is the Era of Shell Companies Coming to an End?
The Honourable Dr. Orlando Smith, Premier and Minister of Finance has announced that the BVI Government will take all reasonable steps to address European Union concerns about economic substance and a new Legislation is intended to be in force by the end of December 2018 in order to avoid the European Union Black List of Tax Heaven Jurisdictions.
Regulatory Update: BVI Economic Substance Act 2018
In 2016, the Council of the EU pledged to start advocating tax transparency and fairer taxation within Europe and consequently worldwide. After the EUs Code of Conduct Group (COCG) on taxation investigated BVI practices, they found a number of concerns regarding legitimate substance requirements for companies and limited partnerships doing business in and through BVI.
Information on the Payment of Cyprus Taxes for Pensions & Rental Income
Cyprus employees who are considered to have tax resident status, pay tax on their global income. Employees not considered to be tax resident are only charged for specific types of income that are originating from Cyprus-based sources.
Cyprus Regulatory Update: Shell Company Definition & Exceptions
The Central Bank of Cyprus has released new guidance for all credit institutions on the island, refining the definition for shell companies and subsidiary entities; coming into effect from November 2018, which are detailed as follows:
Singapore Variable Capital Company VCC: New Features & Benefits
The introduction of the VCC is a significant positive for the Singapore funds industry. Its aim is to retain Singapore as an attractive business destination and to keep investors wishing to domicile locally.
Consolidated Accounts for Hong Kong Companies: Subsidiary Requirements
As per Hong Kong company’s ordinance subdivision 3 section 379 subsection 1, a Company Director will have to prepare year-end financial accounts that comply with sections 380 and 383.
Challenges of Our Time: Cryptocurrencies & Their Regulation
The very concept of cryptocurrencies derives from technologies and the creation of alternatives to existing payment systems, which for the most part is caused by the negative consequences of financial crises and the injustice within the sphere of financial and legal regulation. Many people are convinced that the cryptocurrency is likely to become an alternative to the established global financial system and open new opportunities to those segments of the population and citizens of those countries that are deprived of the opportunity to work with the banking financial system.