Due to changes in most jurisdictions there are currently no bank licenses available at flexible terms for small banks. Many websites still market bank charters from countries such as Nauru, Montenegro, Montserrat and others, although these have since long stopped issuing licenses. Other websites market banks from Belize and various Caribbean jurisdictions, where applications can still be filed, but no new banks have been approved for years.

Even in the case where you would obtain a bank license, the problems continue. Due to regulations such as the US Patriot Act, any licensed bank must have an actual physical presence in the country of licensing, with full time staff and day to day management. This regulation is meant to stop so called "shell banks".

Since most correspondent banks have no idea how to comply with the Patriot Act and other new regulations, they often choose to simply decline any applications for correspondent accounts from any new banks, especially if they are registered in a small jurisdiction. This means that even in the unlikely event that you would obtain a bank license, in this time when almost no country would issue them, your bank would not be able to open the correspondent accounts needed to operate a banking business.

SOLUTION
To register a New Zealand Financial Institution.

One refreshing exception is New Zealand, a highly respected jurisdiction with a modern legal framework and rated the most business friendly nation in the world by the World Bank in 2005. Banking services can be offered in and from New Zealand by different types of entities, including but not limited to Registered Banks, Finance Companies, Credit Unions and Building Societies.

We focus on the New Zealand Finance Company which is not subject to supervision by the Reserve Bank of New Zealand and yet entitled to offer banking services to its individual and corporate customers worldwide.

New Zealand is a premier jurisdiction for the establishment of a new bank. Most jurisdictions actually detour and discourage establishing new banks through excessive regulation, requirements and formalities. The New Zealand OFC is a refreshing alternative, offering modern legal framework and English banking law that supports the ability to open your own bank.

Our Firm can provide you with a New Zealand Finance Company (OFC) which is virtually identical to a bank with the products and services a bank offers but without the large initial costs, capital or risks associated with a large corporate bank. And it’s so simple to operate that one person can run their bank as a “turnkey” operation. At the same time, the OFC can operate as a hedge fund, unleashing respectable profit potential.

New Zealand Online Banks and New Zealand Finance Companies, are authorized to provide banking services under New Zealand law.

With very little or no restrictions on the number of customers, deposits, amounts or currencies, the entity can provide individuals and commercial organizations banking services around the globe.

ADVANTAGES OF NEW ZEALAND
New Zealand is recognized as a premium jurisdiction for the following reasons:
It provides the all advantages of all traditional financial centers, and is recognized as a true onshore financial centre which is not blacklisted by any jurisdiction or authority in the world. It is not perceived by O.E.C.D. as a harmful tax jurisdiction, and has no connotations as a tax haven.

It is a member of the O.E.C.D. and World Trade Organization.

New Zealand is a member of the British Commonwealth, English is the main language, has a common law system, and the majority of legislation including trust law is founded on British law.

It is not a member of the EU, and is not influenced by the EU Savings Tax Directive and any future developments (should they be extended to apply to companies or trusts).

It is a signatory to the 1922 Hague Convention and can provide Apostilled documentation as well as Notarized documentation.

In today’s troubled and unstable times New Zealand is considered a safe location and offers long term security. It has a Westminster style Government and together with its administration, is stable and competent.

New Zealand has a well developed infrastructure, including a progressive and robust economy, efficient telephone and internet services, competitive and frequent air travel, experienced reliable professionals serving global clients with trust and company requirements which include legal opinions on tax, trust and company matters, and has reliable internet global banking services.

New Zealand Financial Services Company Requirements. There are very few limitations on who can own a New Zealand OFC, below are requirements:

No Capital Reserve Requirements - Most banks will have to have 1 to 30 million dollars in reserves prior to being issued a license. The OFC does not require this.

Director and Shareholders - Any residency is accepted and individuals can be of any nationality. Foreign corporations can also be a shareholder in your OFC.

Minimum Shareholders - At least one shareholder is required.

NEW ZEALAND FINANCE COMPANIES
We can form, register and maintain for you the New Zealand Finance Company.

Our team of qualified accountants providing advice on and forming domestic and international business structures, together with the relevant tax advice, will be at your permanent disposal, providing you the day to day compliance for your New Zealand Finance Company.

A New Zealand Finance Company (NZOFC) can offer banking services to both private individuals and corporations worldwide, with no limitations on number of customers, amounts on deposit or number of currencies.

We offer a complete package with formation and registration of your NZOFI, ongoing compliance service locally in New Zealand, resident agent, registered and full serviced virtual offices, as well as the infrastructure you will need to make your entity fully operational, such as accountancy, full permanent support, auditing, introduction to an online banking software provider and to a private label debit card provider, with your own design bearing the logotype of your NZOFC.

The NZOFC can offer virtually anything a fully licensed bank can offer, but the word “bank” cannot be included in the name. Instead, you can use the words “Savings & Loans”, “Bancorp”, (Clearing House”, “Finance House”, “Trust”, “Credit”, “Financial Services”, as some examples.

Activities of an NZOFC can include but are not limited to:
• Deposit taking & lending
• Debit and credit card services
• Issuing of financial guarantees and instruments
• Cash management services
• Current accounts
• Cheque (Checking) accounts
• Savings accounts
• Term deposits
• Issuing of CDs
• Wire transfer services
• Payment processing services
• Fund management
• Marketing of investments

ACTS REGULATING NZOFI
Although the OFI is not subject to Central Bank supervision and regulation, its activities are regulated by several acts. Some of the relevant acts are listed below:
• Bills of Exchange Act 1908
• Stamp and Cheque Duties Act 1971.
• Cheques Act 1960
• Companies Act 1993
• Consumer Guarantees Act 1993
• Credit Contracts and Consumer Financial Act 2003
• Electronic Transactions Act 2002
• Fair Trading Act 1986
• Financial Transactions Reporting Act 1996
• Investment Advisers (Disclosure) Act 1996
• Personal Property Securities Act 1999
• Proceeds of Crime Act 1991
• Property Law Act 1952
• Reserve Bank of New Zealand Act 1989
• Securities Act 1978
• Unclaimed Money Act 1969.

All information about the above ACTS – Compliance Manual - will be provided together with all statutory documents of your NZOFI.

OUR PACKAGE
Our package is designed to provide a ready to use fully compliant Finance Company, allowing the buyer to focus on offering financial services while our office will ensure that the company is in compliance with local regulations and requirements.

Our New Zealand OFC package offers everything you need as a turn-key service to get you organized and operational. This complete service includes:

Organization of your New Zealand Company
Assistance establishing a bank account
Ability to send and receive wires online

Formation of your OFC includes all of the organizational formalities, documents and government liaison facilitation.

Your financial entity will be formed professionally and quickly through our consultants. We will provide all of your documentation, notary and licenses to operate as a bank. A corporate kit and seal will be included with your OFC formation. Registered office with a physical address and onsite agent is included and necessary to maintain your operational entity and used to assign your status as registered issuer. This service ensures that your financial company is in compliance with local regulations and requirements.

We will provide assistance obtaining online banking software, if desired, to administer your finance company. Plus we can arrange a bank account where you have the ability to send and receive wires for your institution.

OFI KEY FEATURES:
Time Frame for establishing a new ready to operate OFC: 4 weeks
Minimum number of directors required: 1
Minimum number of shareholders required: 1
Annual audited report required: Yes
Local registered office and agent required: Yes
Annual fees for maintaining good standing status: USD 3,500.00
Tax on reported company profit (if any): 33%
Approved Issuer Levy (on interests paid to customers) 2%
Total price for the OFI package as described in this report: Please see below;

Note that an OFC company name can be reserved in as little as 12 hours. The company can be formed and registered in as little as 24 hours. The time frame mentioned above includes additional filings and delivery of all original documentation.

We also provide New Zealand Readymade Finance Companies duly registered and licensed available for immediate delivery. Please contact us for details.

The Company is required to have a minimum of one director and one shareholder. Directors and shareholders can be legal entities or physical individuals of any nationality and resident anywhere in the world.

The annual tax rate on reported profit is 30%. In addition a 2% levy is paid by the Finance Company on interest payments.

Tax liability in New Zealand can be limited by using the OFC in conjunction with an entity registered in Panama or British Virgin Islands. The IBC entity would be entitled to act as lender and payment processor on behalf of the OFI. The IBC entity could also engage in activities such as trading, investing etc on behalf of the financial institution.

NZOFI AS APPROVED ISSUER
The NZOFI's status as an approved issuer will be obtained and documented in each instance, as in the example company documents above. The Approved Issuer levy (AIL) scheme enables the issuer to pay interest on registered debt securities to non-associated non-residents of New Zealand for tax purposes without disclosure to the IRD and without deduction of Non-Resident Withholding Tax (NRWT).

We consider Savings Account and Term Deposit as classes of registered securities for the purpose of the scheme for each NZOFI, as in the above example.

Note: this scheme only applies to debt securities, equity securities are subject to NRWT and the company itself is subject to Income Tax. The issuer must pay a 2% AIL on the interest on such securities in lieu of NRWT.

F.A.Q.
SHAREHOLDERS AND DIRECTORS OF A NZOFI
1. What’s the minimum number of Directors required for a NZOFI?
The minimum number of Directors required, as stated above, is one. However from a practical point of view it is essential to include a New Zealand resident director if your client wants to open and operate a New Zealand Bank account without the client having to physically in person come to this country to open their account. New Zealand banks are similar to most banks in other jurisdictions and are careful about the validity of their clients.

2. Can the sole Director be resident outside New Zealand?
The sole Director can be resident anywhere, and must be a natural person.

3. On the other hand, as to the Directors of the NZOFI, would there be any problem to have just one local resident Director on the Board of Directors, and all others as foreigners?
This would be fine. However it would not be advisable to have the majority of foreign directors to be from the same jurisdiction, to avoid tax being levied in that foreign country because the majority of management and control would then be from that country.

4. What is the minimum number of shareholders required?
The minimum number of shareholders required is one. This sole shareholder can be resident anywhere, and can be for example a natural person, company or trust. The shareholders can be resident anywhere on the Globe.

5. Will there be any disadvantage or tax burden for the NZOFI if the share capital is held by 25% or more by foreign shareholders?
There is no difference for tax purposes, whether the company is a foreign company (with share capital held by 76% or 100% by foreign shareholders) or a N.Z. resident company. The difference is the annual audited accounts which will need to be submitted to the Companies Office each year which in turn will be searchable by internet only where the company is a foreign company; for further details please check contents on Question # 7 below.

6. Considering a shelf NZOFI would be initially created, with both local Nominee Shareholders and Directors, could we include and register on a next stage the foreign shareholders and directors?
Yes. The actual clients would be added as they come on the scene as live clients; in such case, it would be necessary to first transfer the shareholding, and appoint the new directors, prior to making application to the New Zealand bank account, to arrange for the replacement directors as cheque signatories. The existing original New Zealand resident Director would no doubt continue to enable the New Zealand bank account to be opened. The new foreign Directors would be added.

7. In which case will an annual audited report be required?
Where 25% or more of the shareholding is held by foreign residents, and/or when being an issuer of securities under the Financial Reporting Act, an annual audited report will be required.
Foreign Companies and 25% rule from 20 January 2007
(a) All companies are required to have annual accounts audited if foreign shareholding >25%. Therefore small foreign companies will have to have accounts audited, but will not have to file these accounts with the Company Registrar. This requirement for small foreign companies to require and have their accounts audited, is under review by the New Zealand Government.
(b) Large companies. There is a need to file financial statements if the company qualifies as a “large” company if, 2 out of 3 tests apply, turnover NZD 20mil, assets NZD10mil or over 50 staff, for accounting periods with balance dates after 20 Jan 2007

8. A NZOFI investing , will it be still subject to the Approved Issuer Levy 2%?
Yes; an Approved Issuer Levy (on interests paid to customers) 2% will be still applicable; the NZOFI can invest and use the Approved Issuer Levy regime. The New Zealand NZOFI should be independent of the lenders from whom deposits are received. This Approved Issuer Levy should be applicable for funds invested outside New Zealand.

9. If considered as suitable for the NZOFI the opening of a corporate bank account in NZ, would you be able to assist us?
Banks in New Zealand have in the last 2 years become more aware of what they see as risks from international transactions. Therefore negotiations are more involved and take more time. However, where there is a New Zealand resident director, generally we do not experience resistance from banks. The banks we have been working with have treated us in the similar way in which you may wish for your NZOFI to be treated. We might be accepted by the banks as effectively acting for the NZOFI. The New Zealand banks we have experience with, will provide credit cards (usually VISA or MasterCard) which can be accessed anywhere in the Globe, but which will access only NZD accounts (not for example USD, or Euro). You may access for example National Bank on www.nationalbank.co.nz to see in more detail. However, for the gross volume of the NZOFI, ATRIUM will provide you all necessary and required assistance to open its corporate bank account(s) outside New Zealand, with international known banks.

10. If we incorporate a NZ Foreign Trust owning 100% of the NZOFI, which will be tax exempted (the NZ Foreign Trust), how can the NZOFI flow profits into the NZFT to minimize and reduce taxation?
There are two advantages in the N.Z. Foreign Trust owning the shares in the
NZOFC:
1) No need to have a N.Z. resident shareholder for each structure.
2) From a tax point of view these NZOFI tax paid profits will need to eventually be paid to some person or structure somewhere. I consider if these are transferred to the N.Z. Foreign Trust then this will be a confidential structure which does not have to disclose these receipts and will not have to get involved with double tax treaty relief or alternatively double taxation. In addition if a client does not want to disclose this income, they may be forced to arrange and have the cost of forming a non tax structure possibly in another jurisdiction to pass these NZOFC profits to.

11. In final terms, how will be a NZOFI taxed?
It is important that you appreciate how this OFC operates. NZ approved issuer levy regime (2% tax) on interest paid only has application where interest has a New Zealand source and that interest is derived by a non-resident person. Accordingly, that interest must be derived from a New Zealand tax resident or, alternatively, from a non-resident (example an overseas investment, branch or division of a New Zealand company) who has used the money for the purposes of a business carried on through a fixed establishment in New Zealand. Therefore this New Zealand fixed establishment can borrow on behalf of investments, providing these investments are made in the name of this fixed establishment. To specifically answer your question the NZOFI will always pay the 33% on the net profits, plus the 2% levy on all worldwide incomes, even outside NZ. The reason as explained above is that the investments must always be made into the New Zealand Company or its overseas branches.

F.A.Q.
GENERAL QUESTIONS
1. Which suffixes can a NZOFI have, just like EF in Sweden?
It can have “Ltd” or “Limited”.

2. Since the OFI can operate as a “bank”, can we have its denomination with the word “bank”?
We report to “The Reserve Bank of New Zealand” - Amendment Act 2003 -
Amendments to Part IV – Use of the word ‘bank’.
The business of banking in New Zealand is not licensed, so there are no restrictions on who can undertake banking business, such as deposit-taking or the lending of money, provided that such businesses meet other applicable laws and regulations (such as the requirements of the Securities Act). However, the ability to use the word ‘bank’ (or ‘banking’ and ‘banker’) is restricted by the Reserve Bank Act. With some exceptions, an entity wishing to use ‘bank’ or a derivative of this word must be registered as a bank with the Reserve Bank. This restriction is aimed at ensuring that non-bank financial institutions do not pass themselves off as a bank and so mislead the public as to their nature and financial standing.
The Reserve Bank’s experience applying the restrictions on using ‘bank’ in names was that there were loopholes in the legislation that had been exploited by some non-bank financial institutions. Consequently, the restrictions on the use of ‘bank’, and the exemptions from the restrictions, have been tightened in the Amendment Act. Also strengthened were the Reserve Bank’s powers to monitor and enforce the restrictions.
One important change is that the ‘bank’ name restrictions now apply to carrying on any activity, rather than simply carrying on business. Also, where previously exemptions from the restrictions were allowed when ‘bank’ was part of a person’s name or referred to a geographic place, these exemptions now only apply if the word ‘bank’ is not being used by a financial institution or in a manner that could mean it could reasonably be mistaken for a financial institution.
Non-bank financial institutions can continue to offer and promote banking products as they have done previously, but the Amendment Act requires that if they use the word ‘bank’ (or one of its derivatives) in an advertisement they must also include a reasonably prominent statement that they are not a registered bank.

3. Since the OFI can operate as a “bank” can it offer mortgages?
Yes, it can offer mortgages.

4. I think this should be covered under Deposit taking and lending section. However I see a lot of financial institutions on the net in New Zealand offering Insurances can we do the same?
It should not offer insurance since this would require capital to be placed in Trust and certain other requirements would apply. We do not provide that service.

5. Will we need for the NZOI any bank license to carry out such financial activities, such as in Panama, for example, where we can obtain a Class A commercial license?
Note that there is no such thing as a license for banking activities in NZ. It does not exist. There is not even a Banking Act. The building society would not receive any license either if they go that route. NZ is different and you seem to want documents relevant to other jurisdictions. The Class A you refer in Panama is a commercial license for entities with a physical presence there, and issued by the Ministry of Commerce, not Finance, without any certain qualifications. In NZ, you will get a certificate of authorized activities issued by the resident agent certifying that you can legally engage in banking in accordance with NZ laws. The Finance company we structure is in the sense that we recommend you offer services outside NZ only. To offer investments/take deposits within NZ require that you have a prospectus and several other reporting requirements apply. This does not apply if services are offered outside NZ. Any interest paying security, and this include any account type you might offer, current account, savings accounts, term deposits (would be considered debt securities) should be registered with Inland Revenue.
You will receive a document called “Approved Issuer” for each security and you have to pay 2% tax on any interest paid out to non residents. This is instead of a withholding tax one could say. You can register any type of securities. I think the document closest to what you want would be the Approved Issuer document.

6. Who will be our contact and lawyer in New Zealand if we need one? Or who will give us the regular assistance, as you refer on your web site?
The local service is in the form of our resident agent, who is a professional compliance officer. We can set you up with any other local professionals you might need.

7. Since we will not operate from New Zealand but from UK how does this affect us?
If you manage a company from the UK this is more a question of local compliance in the UK than in NZ. There is nothing in NZ law prohibiting the OFI to be managed from the UK. If a company can be deemed based in the UK however the FSA there would like to regulate it. I would therefore recommend that the UK office provide administration services but it is always made clear in marketing etc that the company is based in NZ and services are offered legally from there.

8. Will a simple virtual office in NZ, with mailing address, telephone and fax lines be enough?
Sure, phone lines can be forwarded and Voip numbers can be setup. You do not need any physical presence in NZ except for the presence we provide in the form of a local resident agent and compliance officer. You seem to think that the laws in NZ would regulate anything you do anywhere. You should focus on the possible legal consequences where you set up a presence rather than where the company is registered.

9. I note there is no minimum capitalization and no central Bank control, but it is subject to various legislation, in reality what sort of capitalization would the authorities expect to see, is there any regulator at all, what sort of reputation do New Zealand private Banks have?
There is no formal capital requirement indeed. What a sound capitalization would be clearly depends on your business plan. No capitalization is required to form and register the company and relevant securities.

10. Will it be able to take deposits and provide credits and loans, and if so who will it be required to Bank with?
Yes, it can take deposits and provide loans from and to the general public, individuals as well as legal entities. If no services are offered to the general public in New Zealand, the OFI would not need to register prospectus with the authorities.
The OFI is not required to bank with any particular institution and it can hold funds anywhere in the world. There is no requirement to bank in NZ.

11. Will it be able to enter into credit card distribution and if so with whom?
Yes it could distribute credit or debit cards as well as offer any other payment tools.
There is nothing stipulating which companies the OFI would co-operate with for such services. We can introduce you to the Credit Card Issuer we are working with.

12. Will it be able to offer financial advice to none New Zealand residents around the world without having to have local New Zealand regulation?
Yes, it could offer financial advice to non residents without becoming subject to local regulation on such activity.

13. Will it be able to hold shares in other companies, should it wish to acquire other financial entities around the world?
Yes, it can own other companies without restriction.

14. Do you have contacts with organizations that will white label banking and other products for it?
Our provider’s banking software can be customized, so can the debit cards on the Visa/MasterCard/Cirrus network.

15. Could you confirm re New Zealand, what due diligence applies re clients placing deposits with us, and can you confirm which company would be prepared to let us use their credit cards?
You should identify the customers with ID, no formal requirements. There are a number of card programs in the market for card issuing. Please note that our offer includes the introduction to a Debit/Credit Card issuer, able to prove you Private Label.

16. Can we use the name “Building Society” on it, as it can for instance in Sweden, with the Credit Unions?
You cannot use Building Society in the name of the NZOFI since Building Societies exist as separate entities in NZ. To establish a BS you would need minimum 20 founding members and a capitalization of at least $200K. We would not recommend it though. The NZOFI can do anything a bank can do, without capital requirements.

17. What about a NZOFI offering a client check book? Is that possible? If so, can you explain me how that work? I suppose it will be a check book for every client of the NZOFI! And I also suppose that, for that, you will have to provide a bank account somewhere, to provide such sub-accounts and check books. Please clarify me.
As for check issuing, the NZOFI can legally offer checks. How to clear them is however a technical issue and you would have to negotiate such services with your bank. Personally we would rather issue some kind of hybrid between “paper-check” and “e-check”. We would then include clearing instructions, printed on the back of the checks, for example; “To clear this check go to www.abcclear.com (example)”.
On the site they could enter their check number and SWIFT co-ordinates for the account where they want the funds and the NZOFI would then wire the check amount minus fees. They could in this way also be encouraged to open an account with the NZOFI in question, and then cash the check as their opening deposit. We think it would be a brilliant way of doing it if we may say so. Each check would be a marketing tool, and the NZOFI would have the status of its own check books for the clients. Note that when you use checks from another country, it can take 3-6 weeks to clear. A US issued check takes a month to clear, does not matter if it says Citibank on it and Citibank has a presence in your country. The online clearing we suggest above would be a much more efficient and modern way for cross border check use/clearing.

PROPOSED STRUCTURE – OPTION 1
Get your NZOFI incorporated under full anonymity and confidentiality, complying with all legal and tax requirements.

General goals and purpose of the corporate structure:
The corporate structure is designed to hold shares in trust for the purpose of achieving tax free status in New Zealand in perfect compliance with New Zealand law and regulation.

Subject to further discussion and revision, an initial structure would be designed as follows:

(a) New Zealand Special Purpose Company to act as the Trustee on the New Zealand Trust;
(b) New Zealand Trust to own the New Zealand Financial Institution
(c) New Zealand Financial Institution

Trustee - The Stock Trust will be administered by a management corporation incorporated in New Zealand, as a Trustee Company. There should be nominee shareholders and one of the directors must be a resident of New Zealand.

Stock Trust - All shares of stock of the OFI will be held in trust by a New Zealand Trust to be incorporated. As remarked, it will hold all shares in the OFI.

Trust Beneficiaries - The beneficial owners of the shares of stock placed in the trust and the beneficiaries of the trust (the original shareholders) can be any of your own foreign corporations, entitled to the percentage of capital as you may decide. Under present regulations these beneficiaries should not be New Zealand corporations nor should any of the directors or officers of the beneficiaries be residents of New Zealand.

Core Corporate Entity - This will be a New Zealand Financial Institution (“OFI”), which will earn income from financial services provided. These payment transactions must occur outside New Zealand.

Please contact us for complete cost for this specific structure

OPTION 2
NEW ZEALAND
FINANCIAL INSTITUTION
OWNED BY A NEW ZEALAND FOREIGN TRUST
INCORPORATION AND SERVICES FEES
Incorporation and registration fees – Euros 9,500.00
Annual maintenance fees – Euros 1,250.00/annual
Draft and preparation of Memorandum and Articles of Association – Euros 350.00
Registered office in New Zealand, Auckland - Euros 1,200.00/annual
Provision to cover mail re-forwarding services – Euros 200.00
Provision of NZ Foreign Trust as Nominee Shareholder - Euros 450.00/annual
Certification and apostil of all statutory documents – Euros 750.00
Establishing of Corporate Bank Account with National Bank of New Zealand – Euros 1,250.00
1 extra set of certified statutory documents for bank account opening purposes – Euros 325.00
Company official Seal – Euros 75.00
DHL delivery of documents – Euros 70.00

We do not offer only a fully compliant financial institution authorized to offer services to individual and corporate customers worldwide, but also the services you require to make your entity fully operational.

Remark 1:
This cost already includes the provision of a New Zealand Foreign Trust to hold 100% the shares of the NZOFI

Remark 2:
First year – Fees are considered from the date of formation until the 31st December same year
2nd and subsequent years – All annual fees marked above as “/Annual” become due from the 1st January each ear, and are payable until the 31st January

Remark 3:
We offer a complete service package including:

Finance Company entitled to operate as a bank complete with New Zealand Foreign Trust
Certified Company documents and Company seal
Registered office and resident agent
All relevant government filings
Registration of securities
Approved Issuer Status
Introduction to a banking software provider to design a tailored made solution for your needs
Introduction for private label debit and credit cards

Remark 4:
Approved Issuer Status and Income Tax Compliance:

Obtain a Tax File Number from the Inland Revenue Department for the Offshore Finance Company to enable the company to comply with the income tax;
Application for and granting of Approved Issuer Status that will allow the company to register securities such as Term Deposits and Savings Accounts;
Registration of securities that the company wishes to issue such as Term Deposits, Savings Accounts and Cheque (Checking) Accounts. This enables the company to pay interest to non-associated non-residents without the deduction of withholding tax and without disclosure to the Inland Revenue Department of who the interest was paid to, on registered securities. Note: an Approved Issuer Levy of 2% of the interest must be paid by the company;

NOMINEE SERVICES AND FEES:
Provision of 1 local NZ resident Director – Euros 2,500.00/annual
Certified and apostilled Power of Attorney – Euros 650.00

FULL SERVICED VIRTUAL OFFICE IN NEW ZEALAND
Exclusive telephone number in NZ, Auckland - Euros 750.00/annual (*)
Set up fee – Euros 50.00
Provision to cover call diverting costs to your number outside New Zealand – Euros 300.00
Provision of exclusive fax line in NZ, Auckland – Euros 750.00/annual
Set up fee – Euros 50.00
Provision to cover fax re-forwarding – Euros 100.00
(*) Callers will dial - and pay for - a local Auckland number and you can answer the incoming call anywhere in the world.

ANNUAL FEES
The Annual Fees are concerned with the following services:
Annual Statutory Fee, which includes:
- local incorporation agent to provide all services relating company matters (registered agent facilities);
- filing statutory returns with official departments, required, to be the company active and alive;
- Liaison with the registered office and the registered agent in the jurisdiction of incorporation, attending to the payment of the Annual Government License Fees and other government fees;
Annual Compliance Fee, which includes:
- attending to routine compliance matters (inclusive of periodic file reviews), reviewing official correspondence received and other routine matters incidental to good corporate governance;
- Processing and Return Filing with Internal revenue, Registrar of Companies, and other official departments

HOW TO START INCORPORATION PROCESS
As to start the incorporation process, we only need an email from you confirming your order and the required optional services, if any. A Proforma invoice will then be delivered to you with our banking coordinates so that you may settle the payment by swift wire bank transfer.

TIME REQUIRED TO GET YOUR COMPANY AND TRUST NAMES APPROVED
Same day or next day latest

TIME TO INCORPORATE
Considering also the time to certify and apostil all documents, plus courier delivery, you can count on approx. 2 weeks to have all documents delivered to you, duly certified and apostilled.

In case you may have any further matter or question to clarify, please don't hesitate to contact us, before taking your decision.

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