New Zealand, Maori Aotearoa, island country in the South Pacific Ocean, the southwesternmost part of Polynesia. New Zealand is a remote land—one of the last sizable territories suitable for habitation to be populated and settled—and lies more than 1,000 miles (1,600 km) southeast of Australia, its nearest neighbour. The country comprises two main islands—the North and South islands—and a number of small islands, some of them hundreds of miles from the main group. The capital city is Wellington and the largest urban area Auckland; both are located on the North Island. New Zealand administers the South Pacific island group of Tokelau and claims a section of the Antarctic continent. Niue and the Cook Islands are self-governing states in free association with New Zealand.
New Zealand is a land of great contrasts and diversity. Active volcanoes, spectacular caves, deep glacier lakes, verdant valleys, dazzling fjords, long sandy beaches, and the spectacular snowcapped peaks of the Southern Alps on the South Island—all contribute to New Zealand’s scenic beauty. New Zealand also has a unique array of vegetation and animal life, much of which developed during the country’s prolonged isolation. It is the sole home, for example, of the long-beaked, flightless kiwi, the ubiquitous nickname for New Zealanders.
Contemporary New Zealand has a majority of people of European origin, a significant minority of Maori, and smaller numbers of people from Pacific islands and Asia. In the early 21st century, Asians were the fastest-growing demographic group.
Setting up a new zealand company is straightforward because it requires only one director and one shareholder with a very bussness friendly structure, the country is considered one of the world’s least corrupt countries, the Government offers generous bussiness set up incentives to multinationals.
New Zealand Limited Liability Company
|Governing corporate legislation|
The Companies Act 1993 forms the core of the corporate regulatory system. Agencies within the Ministry of Business, Innovation and Employment (MBIE) hold the main responsibility for corporate regulation
A New Zealand company requires a minimum of one shareholder.
A New Zealand company requires a minimum of one director. Director can be of any nationality but at least one director must be a resident of New Zealand.
|Information published relating to company officers|
Details of directors and shareholders are publicly available
The liability of the shareholders for the company is limited to the amount of their respective shareholdings.
|Accounting requirement/ compliance|
There is a chance that the corporation could be audited yearly. Therefore, the corporation needs to consider annual documentation maintenance with the Register of the Company. The yearly documents corporations can expect to submit include annual returns and financial reporting.
|Corporate income tax|
New Zealand corporations are taxed on worldwide income. The current corporate tax rate for corporations in New Zealand is 28%.
|Shared capital/paid up|
Standard authorised share capital is 10,000 New Zealand dollars. Minimum paid up share capital is one New Zealand dollar (NZD).
|Basis of the Legal System||Common Law|
Registered shares, preference shares, redeemable shares and shares with or without voting rights.
Bearer SharesNot permitted.
Each New Zealand company must have a Registered Office in the New Zealand.
The board of a company must call an annual meeting of shareholders to be held—
(a)not later than 6 months after the balance date of the company; and
(b)not later than 15 months after the previous annual meeting.
However, a company does not have to hold its first annual meeting in the calendar year of its registration but must hold that meeting within 18 months after its registration.
|Time to form||1-2 weeks|
Anniversary date of the company / Each Year
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