One-Stop Solution to register company in New Zealand
To register company in New Zealand is hassle-free, if you know how. With Tetra Consultants at the wheel, you will be able to channel your time and energy into other more important aspects of business.
With our lean-and-mean mentality, you can rely on our team of consultants to provide you a seamless experience throughout the whole process of New Zealand business set up. Our ultimate goal is for your New Zealand company to be operationally ready within the stipulated time frame.
Our service package includes everything you will require to do business in New Zealand:
- Company registration with New Zealand Companies Registry
- Provision of New Zealand nominee director
- Local company secretary and registered address
- Opening local or international corporate bank account
- Financial license application (if required)
- Tax registration
- Annual accounting and tax services
When can I expect to start business?
- Tetra Consultants will register New Zealand company within 1 week. After receiving due diligence documents of the directors and shareholders, Tetra Consultants will search for the availability of your preferred company name in the Companies Registry.
- At the same time, our legal team will send you the documents required for company incorporation. Some of these documents include incorporation forms, power of attorney, nominee director agreement and others. Once the paperwork is completed, our consultants will immediately proceed with company formation.
- Our team will complete company formation without the need for travel.
- Once completed, you can expect to receive the details of your newly registered entity including company number and certificate of incorporation.
- Within 4 weeks upon company registration, Tetra Consultants will open a corporate bank account with a local reputable bank. Some of the banks we recommend include ANZ New Zealand, Bank of New Zealand and ASB Bank. Consequently, you can expect to start operations and issue invoices with your New Zealand company within 5 weeks upon engaging Tetra Consultants.
- If you are keen to know more about the process, Tetra Consultants has prepared a step by step explanation of all steps required to register company in New Zealand.
According to New Zealand Companies Registry, the minimum requirements for a New Zealand limited liability company are:
- 1 shareholder of any nationality
- 1 local resident director
- 1 company secretary
- A New Zealand registered office address
- No minimum paid up share capital
What types of companies are there?
There are many different types of companies in New Zealand. It is essential to choose one that is most suitable for your business needs and long term goals. Once engaged, Tetra Consultants will fully understand your business structure and recommend the optimum business entity.
Limited Liability Company
- If you are looking to set up a company in New Zealand, our recommendation will be to set up a limited liability company (LLC). Regardless of onshore or offshore business, this is the most common business entity in the country and we can supply you company numbers within 1 week.
- Your business is required to file annual company tax return and annual financial statements. In addition, your business is subjected to a corporate tax rate of 28%.
- A New Zealand limited company means that it is a separate legal entity. The company can sign contracts and have possession over assets on its own. If there are legal orders, the New Zealand limited company will be sued in its own name.
- Just like limited companies in other jurisdictions, the personal assets of the shareholders are indemified from the company’s liabilities.
- In NZ, some business activities may require you to secure licenses before being allowed to conduct business. In the event you are required to apply for licenses to conduct business in New Zealand, Tetra Consultants will recommend you to consider setting up a LLC.
Limited Liability Partnership (LLP)
- A limited partner’s income generated outside of New Zealand through the company is not subjected to taxes.
- As such, New Zealand Limited Liability Partnership allows investors to benefit from being taxed as a partnership, while enjoying the protection of limited liability since the partnership is a separate legal entity from the two partners.
- A branch office is an extension of the parent company and can only conduct business activities in New Zealand similar to that of the parent company.
- The parent company is the 100% shareholder and is fully liable for the debts incurred by the New Zealand branch office. It is mandatory to appoint a local registered agent/secretary.
- A representative office is only allowed to conduct market research and marketing for the parent company. It is not allowed to sign contracts, sales agreement and earn income in New Zealand.
- Representative office is optimum for companies looking to set up New Zealand company to explore the market before entering the market.
- If you are just starting a company and not planning to hire any employees, you may wish to register as a New Zealand Sole Trader. To become a sole trader, you are required to have a personal NZ IRD number for paying income tax and GST. Depending on your business activity, you may also require certain licenses.
- You are also required to inform the Inland Revenue Department that you are operating as a Sole Trader. In the event your profit exceeds NZD60,000, it is mandatory for you to be GST-registered.
Appointing local director
- It is mandatory for all New Zealand companies to appoint a local resident director. According to New Zealand Companies Office, a director is deemed “resident” only if he lives in either New Zealand or Australia. In addition, the director must be present in either New Zealand or Australia for more than 183 calendar days per year. Tetra Consultants will provide a nominee resident director for our international clients’ businesses.
- Prior to New Zealand company formation, our team will provide basic details of our nominee, including his passport copy and proof of address. In addition, our legal team will provide legal nominee agreement, ensuring our nominee has no authority in the business.
- If required, our nominee will attend bank meetings on our clients’ behalf, so as to minimize delay during the engagement.
How to register a company in New Zealand?
In order to register your business in New Zealand, you must follow these steps:
Step 1: Choose an optimum business structure
- 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.
Step 2: Reserve your preferred business name
- 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.
Step 3: Meet all pre-registration requirements
- 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
Step 4: Register company in New Zealand:
- 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.
Step 5: Open a corporate bank account:
- Tetra Consultants will leverage our extensive banking network to open a bank account with a reputable bank for your newly incorporated business.
Step 6: Staying Compliant
- 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.
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.
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.
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.
Can a foreigner register a company in New Zealand?
- Yes. A foreigner is able to register a company in New Zealand, provided he meets the minimal legal requirements. The foreigner is allowed to own 100% of the shares of the company and be appointed as the director. However, he requires a local resident director and a local registered address.
How to register a company in New Zealand?
How much does it cost to register a company in New Zealand?
- This depends on the exact services required from Tetra Consultants. Our fees are inclusive of government fees and all fees are transparently reflected on our website. Check out our fees here.