If you are a business looking to expand into the Asia-Pacific region and are looking for a country that will be a good fit for your goals, then look no farther than New Zealand! This stable, democratic modern nation straddles two large islands in the South Pacific Ocean, with close ally and trading partner Australia as its neighbour to the north. New Zealand enjoys a thriving economy, much of it based upon the banking and finance fields. The New Zealand government is very business friendly, and has implemented tax incentive programs designed to encourage greater investment in the country.
New Zealand is widely lauded as being among the region’s top international financial centres, which is why foreign investment continues to grow there. If this sounds like the ideal situation your business is looking for, it probably is! We highly recommend that you contact the New Zealand experts at https://newzealand.acclime.com/ who can help you get your business up and running quickly and easily so you can start enjoying your life of success and profit in these beautiful islands!
To further entice you, the following are some of the advantages for doing business in New Zealand!
- English is the country’s first language
- The country is politically and economically stable
- New Zealand is an independent member of the British Commonwealth
- The country’s legal system is fashioned after English common law
- New Zealand’ banking profession enjoys a high legal standard
- New Zealand maintains full membership in O.E.C.D, the Organisation for Economic Co-operation and Development
- The O.E.C.D does not consider New Zealand to be a harmful tax jurisdiction although it enjoys the advantages of being an offshore tax jurisdiction
- The country’s commercial, business, and communication infrastructure are world class
- New Zealand enjoys tremendous securitybecause of its internal political and regional stability. In these troubled times the country never presents itself as a target for terrorists.
Another strength of doing business in New Zealand is its forward thinking approach to the taxation of resident businesses. A company that resides in New Zealand is subject to the provisions of the Income Tax Act, 1994 wherein worldwide income is assessable if its derived from New Zealand or from offshore, whereas companies that are not New Zealand resident’s assessable income can only be derived from New Zealand.
The following four tests decide if a company is resident in New Zealand:
- The company is incorporated in New Zealand
- The company’s head office is located in New Zealand
- The company’s centre of management is located in New Zealand
- The company’s directors exercise control in New Zealand.
Every company operating in New Zealand, including resident, non-resident, or a non-resident company’s branch is all taxed at a 28% flat rate of their annual taxable profit. Any overseas company has the ability to begin doing business in New Zealand as a “branch operation” taxed at the 28% flat rate. The country’s broad network of tax treaties can be utilized when planning international taxes.
If more than 25% of the shares or a majority of Directors are resident outside of New Zealand, the company must then produce annual audited accounts that are filed in conjunction with the company’s annual return. If a company is formed and registered under the New Zealand Companies Act 1993 within New Zealand, or if a body corporate doing business in New Zealand is incorporated and registered outside New Zealand, they must file an “Annual Return” during the month designated, as well as pay the annual filing fee required.
Following the calendar year of its incorporation a company doesn’t have to file an Annual Return. It’s also possible for companies that apply to the Registrar to vary the month they file their Annual Return. The Registrar can send a Shuttle Annual Return to the company’s address for communication, or to its registered office one month prior to when the return’s filing is due. One more available option is to file the Annual Return with the company’s office on-line.
The Shuttle Annual Return’s information is compiled from the office database of a New Zealand Company. The requirement of having an Annual Return enables the verification of the information the database contains. If a shuttle Annual Return’s information has to be updated, just follow the form’s instructions. The date of Annual Return must be a day in the month that the return is due; it must be completed upon that date with all of its information correct.
Are you ready to expand your business into friendly New Zealand? The country is a thriving marketplace where success is always in the air, it is truly the cornerstone of the Asia-Pacific region’s massive wealth generation and shows no signs of stopping! Bring your company to New Zealand’s welcoming shores and be a part of one of the world’s greatest economies it’s easy!
