Register company in Netherlands

• There are multiple forms of business structures available in New Zealand that you can choose from. These include the following:
  • Sole Trader
  • Limited Liability Company
  • Limited Partnership
  • Branch Office
  • Representative Office
• Based on your business activities, requirements, and long-term business goal, Tetra Consultants will recommend a suitable legal entity for your business.

• Tetra Consultants will assist you in searching for the availability of your preferred business name by checking the Ministry of Business, Innovation, and Employment (MBIE)’s ONECheck tool.
• We will then proceed to reserve the chosen name with the online services account of the Companies Register. Prior to this, you must create a RealMe® login account with the Companies Office.

• You will require a local resident director in order to set up your business in New Zealand. We will assist you in finding one, if needed.
• Tetra Consultants will advise you on the documents you will need to prepare for submission and assist you with the same. Some of the documents include the following:
  • Company’s Constitution
  • Proof of address
  • Personal information of the directors and shareholders
  • Company contacts details
  • Others

• Once you have prepared all the documents, you can submit the documents along with an application form to the Companies Office.
• In this same application process, you can register your business for tax to obtain the Inland Revenue number and Goods and Services Tax (GST) Number.
• Tetra Consultants will assist you through this process.
• The registration process can be completed online such that you will not be required to travel to New Zealand throughout this process.
• Once the incorporation process is completed, Tetra Consultants will collect the Certificate of Incorporation, tax registration documents, and more on your behalf and courier it to your preferred address.

• Tetra Consultants will leverage our extensive banking network to open a bank account with a reputable bank for your newly incorporated business.

• Even after the registration process is completed, Tetra Consultants will continue to ensure your business’s compliance with the government regulations.
• We will assist you in applying for all relevant business licenses needed to operate your business in New Zealand.
• We will also assist you in the timely preparation of tax returns, financial statements, and more.

Steps for ongoing compliance post-registration 

• After registering for a company in New Zealand, it is significant to maintain good standing and avoid any penalties. Here are steps to ongoing compliance post-registration and how Tetra Consultants can help you: 

File annual returns 

• It is mandatory for every company including LLC in New Zealand to file an annual return with the New Zealand Companies Office. This return confirms and updates the company details, such as directors, shareholders, and the registered office address. Tetra Consultants will help you with accounting/tax services and file annual returns on your behalf.  

Maintain and submit financial records 

• Tetra Consultants will help companies to prepare and maintain their accurate financial statements that showcase their financial positions. The financial statements are required for annual tax returns and should be audited and filed with the Companies office.  

File annual tax returns  

• Tetra Consultants will help companies to file an annual income tax return (IR4) with the Inland Revenue Department. The return should be filled annually based on the balance date of the company.  

Register and file for GST returns  

• If the annual turnover of the company is more than NZ$60,000, then Tetra Consultants will register it for GST and will also file periodic GST returns. Based on the reporting period chosen, the returns will be filed monthly, two-monthly, or six-monthly.  

Adhere with employment regulations 

• Employers should adhere with Ministry of Business, Innovation and Employment (MBIE) regulations, this includes ensuring safe workplaces, correct entitlements, and accurate record keeping. Tetra Consultants also offer business support services such as employee payroll, finding secured office premises, and staff recruitment to ensure compliance with necessary employment regulations.  

Record keeping  

• Tetra Consultants will help companies to maintain financial, employment, and tax records to make them available for inspection if needed.  

Report changes 

• Tetra Consultants will ensure that any changes in the organization details such as share structure, shareholders, and directors) should be reported to the companies office within 20 working days.  

Hold annual general meetings  

• Companies with more than 10 shareholders may need to hold an AGM unless the constitution states otherwise. In annual general meetings, minutes should be prepared, and a record should be maintained of the resolutions passed.  

Compliance with the Companies Act 1993 

• Tetra Consultants will ensure that companies adhere to the Companies Act 1993, and help them to stay updated on legal changes, and industry-specific regulations.  

Document required 

• Reservation proof of your chosen company name from the Companies Register.  

• Company constitution outlining the governance structure and rules of the company.  

• Signed consent forms from all the directors and shareholders.  

• Details of the registered address of your company in New Zealand.  

• Company registration application form 

• Directors and shareholders information such as their legal name, contact details, and residential address.  

• For non-resident directors and shareholders, a notarized copy of their passport will be needed.  

For corporate shareholders: 

• Certificate of the incorporation  

• Business profile (showcasing directors, registered office, and shareholders) 

• ID and the address proof of the authorized representative (director of corporate shareholder or the person signing on behalf of the company) 

• Board resolution that authorizes the investment in the New Zealand company and appointing a representative 

Documents required for Ultimate beneficial owners (UBOs): 

• Certified copy of passport, or a government issued ID 

• Residential address proof (such as a bank statement not less than 3 months, or a utility bill) 

• Source of wealth documentation 

• UBO declaration form  

Advantages of choosing to register company in New Zealand

• New Zealand is  becoming increasingly popular for businessmen who are looking to expand their businesses globally.  The country is ranked as one of the easiest countries to start a business and the government is also open to the establishment of financial companies.
• There are minimal requirements prior to company formation, including a registered office address, a local director and a public officer.
• It is easy to start a business in New Zealand. The process is straightforward and the country is ranked as one of the easiest jurisdictions to do business. New Zealand government is open to the idea of foreign ownership and there is no need to attain any special approval during the process of company formation.
• There is no requirement for our overseas clients to travel. Through the website of the Companies Register. Our team will complete the incorporation form and submit the information online.
• It is easy to secure banking loans in New Zealand. The country is ranked first by the World Bank in accessibility to apply bank loans as both governments and local banks are very supportive towards SMEs.
• Compared to Australia, New Zealand business owners enjoy lower average wages, lower living costs, lower security contributions and cheaper monthly rentals.
• New Zealand is a reputable jurisdiction for people to conduct businesses in the finance industries. Tetra Consultants assists our clients in applying for New Zealand Financial Service Provider (FSP) license from NZ Financial Market Authority (FMA).
• According to Inland Revenue Department, corporate income tax applies for all New Zealand incorporated companies including branches of foreign companies. Worldwide income of a resident company is subject to tax while a non-resident company is only subject to tax for local sourced income.

Common Challenges when register company in the New Zealand 

• Company registration New Zealand is a streamlined procedure, mainly because of the country’s advance digital registry systems. However, businesses, especially those that are established from overseas, often face multiple challenges throughout this process. Here are some common challenges that businesses face: 

Name reservation  

• It is a simple process to reserve and register a company name in New Zealand. However, issues arise if the selected name is similar to existing company names or is offensive and misleading. Before reserving a company name, businesses will have to check in New Zealand Companies Register, to verify if their chosen name is not taken. Tetra Consultants also provide international trademark registration services which help clients with name reservation. Our team ensures that the name complies with New Zealand naming regulations, 

Ongoing compliance  

• After registration, it is mandatory for companies to file their annual returns, maintain correct records, and adhere with ongoing tax and employment obligations. This consists of registering for payroll taxes, ensuring compliance with employment law, and getting industry-specific licenses. At Tetra Consultants we provide regulatory compliance consulting services to ensure that your regulatory environment is in compliance with international regulations to help you legally conduct your business operations.  

Verification and documentation  

• Collecting and preparing necessary documents like company constitution, director credentials, as well as identity proof, has proven to be a challenging task, especially for non-residents of New Zealand who may require notarized and apostilled documents. The verification procedure is robust and can easily be delayed due to incorrect documentation. At Tetra Consultants, we will ensure that all your documents are verified and are submitted to the relevant authorities to ensure proper company incorporation.  

Bank account setup  

• In New Zealand opening a corporate bank account is considered to be a difficult task for foreign companies, as several banks require a local director or physical presence. This delays the ability to conduct financial transactions and manage payroll. Tetra Consultants will help with corporate bank account opening, our team is familiar with the different requirements and expectations of each bank, ensuring that we will set up your account in 4 weeks.  

Annual reporting requirements

• Typically, unless allowed by the Inland Revenue Department, a New Zealand entity fiscal financial year is from 1 April to 31 March. All entities are required to file an annual return within the stipulated deadline.
• All New Zealand businesses are required to pay a corporate income tax rate of 28% for both global and local income. The due date to file annual return for a company with a 31 March financial year end is 7 July. For a company with different financial year end the due date to submit tax deadline will be seventh day of the fourth month after the end of the company’s corresponding income year. An extension to file tax returns may be granted to companies to companies that are registered with a tax agent.

Cost to setup New Zealand company  

• Tetra Consultants will provide a comprehensive and transparent service package to help you in company formation New Zealand, customized to meet the specific needs of every client. The package usually includes end-to-end assistance, starting with reservation of company name, as well as preparation of company incorporation documents. Tetra Consultants will also offer a registered office address, and for the clients who do not have a local presence, we will also offer nominee resident director services in order to meet the statutory requirements.  

• Furthermore, our team will help in tax registrations to obtain an IRD number, registering for Goods and Service Tax (GST), and setting up the Pay as You Earn (PAYE) if the company is planning to hire employees.  

• At Tetra Consultants we also offer corporate bank account opening services. Our experts ensure that our clients understand the full scope of services provided, including any additional add-ons for tax filing, accounting, and ongoing compliance to provide a seamless and fully managed experience.  

How Tetra Consultants will help you to register company in New Zealand 

• Tetra Consultants provides end-to-end services to help clients with seamless company registration in New Zealand, making sure adherence with local rules and regulations. We will manage the entire registration process with the New Zealand Companies Office, if needed Tetra Consultants will also appoint a nominee resident director.  

• Our legal team of experts will provide legal drafting services and will draft all the necessary documents. We will register your company with the Inland Revenue Department to get an IRD number.  

• Tetra Consultants will also help in opening a New Zealand corporate bank account along with ongoing compliance services such as preparing and submitting tax returns, accounting, and bookkeeping services, and AML/CFT compliance to ensure that your company remains in good standing.  

Find out more!

• Contact us to find out more about how to set up business in New Zealand. Our team of experts will revert within the next 24 hours.

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