New Zealand: a valid alternative to the “Classic” Jurisdictions

New Zealand is composed of five enchanting archipelagos; it is a country endowed with varied landscapes and biodiversities and which alternates modern and frenetic cities with uncontaminated areas. The peoples living in this country are very different from each other too, sometimes also because of the language. New Zealand was able to profit from the Anglo-Saxon colonization and to adopt the same system, yet the country did not reject abandon its ‘aboriginal’ identity which makes it a country rich in its diversities. From the economic/financial point of view, there are interesting and noteworthy possibilities too for those who want to set up their international business here or for asset protection. The main companies are: the Limited Liability Companies (LTD) which have a structure completely identical to the Anglo-Saxon companies and benefit from the same flexibility of incorporation and from an easier administration.
The New Zealand trusts are built upon the Anglo-Saxon system and have interesting tax rules for non-resident settlors and beneficiaries.
In New Zealand, our group cooperates both with the Mazzone & Co. Limited in Auckland, and with the M&G Trust and Fiduciary Services Limited: the two structures jointly offer services of incorporation of LTD and Trust; nominee directors and trustee treatment/management for companies’ shareholders; secretarial services and outsourcing; registration of trademarks, works of intellect and patents.

View of Auckland from the sea (NZ)

The New Zealand “Limited” Companies.

The New Zealand limited companies can be easily managed like all the limited liability companies but they also present the main characteristics of a joint-stock company. In countries so privileged for having an Anglo-Saxon company system, where the incorporation costs are very low and the tax regulations are very simple, partnerships (like the Italian Snc and SaS) are not so frequently incorporated as you can benefit from a wider and more manageable structure, sometimes at lower rates than the partnerships.

Limited Companies are generally used as:

• A company operating in the business sector online and offline
• A trading or import/export company
• A trademark, patent and web site holding company
• A company producing software online and offline
• A company providing a comprehensive range of services worldwide
• A company holding shares in other companies worldwide
• A headquarters of companies operating in privileged tax regime countries

The main characteristics of a New Zealand Limited Company can be summed up as follows:

• It can be run only by one director who must be a natural person
• It can have one or more shareholders, natural or juridical persons
• The capital committed can be paid in cash or in kind and there is no paid up capital required. The liability of each shareholder will be limited to the purchased, and not paid up, capital
• It may have a ‘generic’ charter to accomplish any kind of legal business
• The partners and directors meetings may be held anywhere in the world attending personally or by proxy
• It would be better to sell the shares of a LTD in trusts to a New Zealand trust company, not only for privacy protection but also because in the case of a predominantly foreign partnership an annual auditing would be necessary

Our provision of documents and of standard services for the USA corporations includes:

• Certified Charter / Statute
• Certificate of Incorporation / Registration
• Minutes of the first meeting
• Director’s consent form
• Nominee shareholder’s consent form
• General Power of Attorney
• Kit complete with documents plus apostilles
• Corporate Seal
• Briefcase
• Trust Agreement(s) between the beneficiary/ies and the trust company in charge of the shares
   
• Use of the registered office (to our office – in a prestigious address and building)
• Provision of the registered agent (local figure who handles the relations between the company and the local authorities and who receives legal communications concerning the company)
• ‘Turn-key’ office
• Nominee service of directors / shareholders
   
• Our group has also a number of Limited already formed
  and ready to be used within 24 hours.
  
    FOR MORE INFORMATION  

New Zealand Trusts...

Now that we have explained what a trust is (information available in the section dealing with asset protection), we can analyse a New Zealand trust.

Like in all the other trust companies, the following persons take part in a New Zealand trust:

• Settlor
• Trustee
• Beneficiaries
• Supervisor (Appointor)

We have to analyse the first three persons in order to understand if in our case they are resident or incorporated in New Zealand, or if they are from overseas countries.

When the settlor, the beneficiaries and the source of the committed assets are non-resident in New Zealand, the trust or the trustee are not taxable.

Such opportunity is usually offered only by offshore or borderline countries and it is not common in ‘white listed’ countries like New Zealand.

If we add the low rates for the company formation and for the maintenance of a New Zealand trust, we will deduce that it is an excellent jurisdiction for asset protection programmes.

NZ Secretarial Services:
how much does the service cost?

Our offices in Auckland offer legal domicile, virtual offices and outsourcing services:

• Mail reception and forwarding
• Parcel and carrier reception
• Invoicing and mailing
• Phone, fax and mail forwarding
• Registrations of .co.nz web sites and of local e-mail accounts

  FOR MORE INFORMATION  

Our offices in New Zealand:

 Mazzone & Co. Limited
126 Vincent Str.
Auckland

M&G Trust & Fiduciary Services Ltd.
Level 5, 369 Queen Str.
Auckland