Cost of registration
The cost of the second year
Tax on profits
Starting a business in New Zealand
Company in New Zealand, is a complex and controversial instrument. It requires the establishment of proper tax scheme, otherwise it will be subject to tax in New Zealand. Tax evasion in New Zealand is a criminal offense.
Moreover, the New Zealand Government considers illegal use of their companies in order to tax optimization and announced an open struggle violators. Some banks do not open accounts for New Zealand companies.
If there is a direct need for the registration of the company is in New Zealand, we will do our best to adjust it to your business in the best way, otherwise it is better to use a different jurisdiction.
The Companies Act of New Zealand allows the business in the country through the following forms of business activity:
– Sole Trader – Private Entrepreneur
– Partnership – Partnership
– Limited Liability Company – Limited Liability Company
– Public Company – Open Joint Stock Company
– Branch Office – a branch of a foreign company
– Subsidiary – subsidiaries of foreign companies
– Joint Venture – Joint Venture
– Trust – Trusts
The company in New Zealand is required to pay income tax on all income, including income from outside of New Zealand.
The income tax rate is 30% of taxable income.
Company in New Zealand can be used for tax planning purposes, and paying high taxes can be avoided if the company will be used in conjunction with the trust.
The use of agency schemes in New Zealand is very ambiguous and, in most cases, illegal. In the case of a tax audit, the company may have problems.
Indeed, the list of those new Zealand tax, that is, much shorter than the list of taxes, that don’t exist. For example, in New Zealand there are no:
– land tax,
– property tax,
– The capital gains tax in the price (the infamous Capital Gains Tax),
– Gift tax,
– Inheritance tax,
– Taxes related to ownership of the vehicle.
For those who see New Zealand as a country of their future emigration followed by the opening of business, there are plenty of benefits and interesting moments for the tax residents of New Zealand.
There must be denominated in New Zealand dollars. Standard authorized share capital – NZD 100. The minimum issued capital – one share of (non) par value.
Company in New Zealand can not issue bearer shares.
Reporting and Auditing
Company in New Zealand must annually submit to the Registrar of Companies Data Report – Annual Return. The report shall include information about the Company’s registered office, directors and shareholders.
The company in New Zealand is required to maintain accounting records, submit reports annually and audited.
The fiscal year runs from 1 April to 31 March. As a general rule, fiscal year coincides with the fiscal and reports shall be until 31 March. In some cases, the date of delivery of the reporting possible shift for 6 months (until 30 September).
The reports shall be kept at the registered office of the company and be available to financial control authorities.
How to register the company in New Zealand ?
If You are interested in starting the company in New Zealand or to open a bank account in New Zealand, then please contact us directly email@example.com, and our experts will help you to choose the best solution and the most suitable procedural path for you.