LLC in New Zealand: How to Register and Requirements 

• Starting a business overseas has proven to be a game-changer, especially when you opt for a stable and business-friendly country such as New Zealand. There are many legal structures available in New Zealand for company registration; however, the limited liability company (LLC) in New Zealand has become a popular choice for local and foreign business owners. More and more businesses are to register company in New Zealand. This detailed blog will provide you with everything you need to know regarding setting up an LLC in New Zealand, such as legal requirements, step-by-step registration processes, and compliance mandates.  

What is an LLC in New Zealand  

• An LLC in New Zealand refers to a business structure that establishes a company as a separate legal entity from its owners. This implies that the company itself os responsible for its liabilities and debts, and the personal assets of the owners are protected from the financial obligations of the company.  

The main characteristics of LLC are: 

• Limited liability- The liability of the shareholders to the company’s debts is only up to the amount of their share capital.  

• Taxation- The company pays the taxes on its profits, and shareholders are taxed on the basis of dividends received. 

• Registration– LLC is created by registering with the New Zealand Companies Office. The procedure consists of selecting a unique company name and putting “Ltd” at its end, and also offering the details of directors and shareholders, along with a registered office address in New Zealand.  

• Separate legal entity– The company is distinct from its directors and shareholders, enabling it to own property, enter into contracts, and sue or be sued in its own name.  

Main requirements to create an LLC in New Zealand  

• Before starting with the registration process, it is crucial to understand the main legal and procedural requirements for an LLC in New Zealand: 

Director and shareholder requirements  

• To create an LLC in New Zealand, at least one director is needed who should be a resident of New Zealand or Australia. The director should be a natural person and not another company, above 18 years, and should not have a criminal background.  

• The company also needs at least one shareholder, and there are no restrictions on its residence or nationality. Tetra Consultants also offers nominee director and shareholder service for international clients who want to meet the local residency requirements while also maintaining full control of the business.  

Company name 

• The company name should be unique and not similar to an already registered business in New Zealand. The name should also include the word “Limited” at the end to showcase its limited liability status. Tetra Consultants also offers international trademark registration services, which will help clients in securing a company name that is approved quickly.  

Registered office address 

• It is compulsory for an LLC in New Zealand to have a physical registered office address in the country. This address cannot be a P.O. box, it will be the address where official government letters and legal notices will be sent. Tetra Consultants will provide you with a registered office address in New Zealand.  

Company constitution  

• While it is not compulsory to have a company constitution, having a constitution enables organizations to tailor rules governing the LLC in New Zealand. The constitution offers an outline of the rights and responsibilities of shareholders and directors. Tetra Consultants also provides legal drafting services, helping you to draft and review a constitution based on your business model.  

Process of registering an LLC in New Zealand  

Step 1- Register the company name 

• Before registering for an LLC in New Zealand, you need to secure a company, through the online portal of the Companies Office. Tetra Consultants will help you in reserving a name for your company.  

Step 2- Prepare details  

• In order to register your LLC in New Zealand, you need to collect all necessary information, which includes: 

• Consent forms that are signed by all the directors 

• Share allocation structure 

• Registered office address 

• Full name and contact details of the shareholders and directors 

• Tetra Consultants complies and organizes all the needed documentation and also ensures proper adherence to the Companies Act 1993.  

Step 3- Register the company online  

• Once all the documents are ready, the application needs to be submitted online to the companies office. You will also have to upload the director’s consent and verify the details of the shareholders.  

• Tetra Consultants will manage the entire registration process on your behalf and ensure all the uploads are in the correct format and nothing is overlooked.  

Step 4- Get a certificate of incorporation  

• After the companies office processes your business application, your LLC will be registered in New Zealand. After this, you will get: 

• Certificate of incorporation  

• Company number 

• New Zealand business number 

• You will also have to open a corporate bank account. Tetra Consultants also provide corporate bank account opening services assisting you to open a bank account in New Zealand.  

Post-registration requirements  

• After you have successfully registered your LLC in New Zealand, these are post-registration requirements that you need to fulfill. Here are the ongoing obligations that business owners should fulfill: 

Annual return filing 

• Every LLC in New Zealand needs to file an annual return with the Companies Office, ensuring that the details of the company are up to date. Tetra Consultants also provides post-registration compliance services and files annual returns on your behalf.  

Keep company records 

• Minutes of the meeting 

• Company constitution  

• Share registers 

• Financial statements  

• Tetra Consultants will help you to maintain these records.  

Tax registration  

• An LLC in New Zealand should apply for an IRD number to file taxes, if the annual turnover of a company is more than NZ$60,000. Tetra Consultants also provides tax registration services to get your IRD and GST numbers effectively, ensuring that the business stays compliant from day one.  

Cost of registering an LLC in New Zealand  

• The overall cost of setting up a limited liability company in New Zealand is based on multiple factors such as professional services, required nominee directors, and whether you need help with legal documents as well as compliance filings. Standard expenses also consist of government fees for name reservation and company registration, and operational costs for services such as registered office address, legal consultations, and annual compliance support. Setting up an LLC in New Zealand is cost-effective when compared to several developed countries. The prices provided by Tetra Consultants are transparent, and our team assures that you understand the full range of financial commitments involved, assisting you in avoiding any hidden fees.  

Conclusion  

• Creating an LLC in New Zealand has become a smart choice for business owners looking for a business-friendly atmosphere with a strong regulatory landscape and ease of doing business. With the effective understanding of procedures and requirements along with the guidance of Tetra Consultants, you can easily set up your company in just a few days. From documentation to compliance, Tetra Consultants will be there for you at every step.  

• Contact us and our team will get back to you in 24 hours.