TAX AND CORPORATE NEWS
Latest news and information about tax and corporate legislations in New Zealand
Incorporating a New Zealand Company: Document Requirements
In some cases when a new New Zealand Company is being incorporated, the New ZealandCompanies Office may ask for documents in order to verify the identity and residence of the
company’s proposed Shareholders and Directors. The document requests are easy to
fulfill, andare in line with the standard Due Diligence Procedures and Know Your Client requirementsroutinely exercised by international banks and financial institutions.
The Companies Office will issue a request for documents if the proposed company meets a set of pre-determined criteria which suggest that the Company may be incorporated as a shell entity foroverseas based beneficiaries. Although, these types of vehicles are not prohibited in New Zealandlaw, the New Zealand government enforces the precautions as a means of preventing misuse of New Zealand business entities, and to stem the occurrence of money laundering, criminal activityand tax evasion. In routine practice the document requirements are applied to any proposedCompany with an overseas Director and/or Shareholders, or with corporate Shareholdersregistered outside of New Zealand.As part of the verification, the New Zealand Companies Office will require that an original copy of
the Directors’ Consent or Shareholders’ Consent forms are
submitted for each individual named asa Director or Shareholder in the Company. In order for the Consents to be accepted, the NewZealand Companies Office will require Proof of Identity and Proof of Residence for all the signees.
Proof of Identity
So as to identify all natural persons signing the consent forms, the New Zealand Companies Office
will require a certified copy of the individuals’ passports. In the event that a passport is not
available, the individual may provide certified copies of any two of the following documents:
Government issued identity card, with a photograph
Drivers license, with a photograph
Certificates of citizenship
Proof of Residency
The proposed Directors and Shareholders of a new Company may be asked for documentation tohelp identify and verify their residential address.In order to meet the Proof of Residency requirements, the individuals will need to provide certifiedcopies of a utility bill (such as gas, phone, electricity, cable TV, etc.) issued in their name during thelast three months.The document must be in English, or be accompanied by a certified translation.
Development Manager at Abaconda Management Group , Director of AMGBusiness Development.
Kirill Kruger is a young butexperienced financialconsultant, with aspecialization ininternational and NewZealand taxation research,management and planning.Being a successfulentrepreneur he has alsoauthored advanced studiesin the field of financialacademics, and regularlywrites reports on currentaffairs and developments ininternational and NewZealand finance, taxationand management.
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