New Zealand Offshore Financial Company (OFC): Key Features

• Time Frame for establishing a new ready to operate OFC: 4-6 weeks
• Minimum number of directors required: 1
• Minimum number of shareholders required: 1
• Annual audited report required: Yes/No if NZ holding company is set up
• Local registered office and agent required: Yes
• Tax on reported company profit (if any): 30%
• Approved Issuer Levy (on interests paid to customers) 2%

If 25% or more of the shares in a N.Z. company are disclosed as being owned by foreign residents, then the company is classed as a foreign company. As a result, audited financial accounts are required to be prepared. In the situation of "large companies" there is a need to file financial statements with the Registrar of Companies annually if, 2 out of 3 tests apply, turnover NZD 20mil per annum, assets NZD10mil, or over 50 staff, for accounting periods with balance dates after 20 Jan 2007. Registration at the Companies Office, will result in the identity of the beneficial owner being disclosed. We could assist by arranging a separate structure in for example Panama or any other location to own the shares. The beneficial owner will be able to change this nominee shareholder.

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