Eternity Law International — News — Company registration in Niue

Company registration in Niue

Published:
December 7, 2020

Niue is a self-governing government entity. It is a part of the association with New Zealand. This island nation is located in the South Pacific. The form of government is a monarchy, formally the head is the monarch of Great Britain. In the early twentieth century, the island became a British protectorate.

But that reign lasted for about a year, as New Zealand annexed Niue in 1901. In 1974, the country became a self-governing state within the Cook Islands. The official languages ​​are Polynesian and English. NZD is used as the main currency – New Zealand dollar, American and Australian dollars are also used.

Features of the Niue jurisdiction

The legal area is based on Anglo-Saxon law. The state of Niue has enacted a number of laws that govern the activities, relationships and operations of offshore companies within the jurisdiction.

The body supervising the implementation of the prescribed norms is the Offshore Financial Center. Among the offshore financial institutions that can be formed in Niue are:

  • International Business Companies (IBC) – international type companies;
  • trusts;
  • partnerships – Partnership;
  • individual entrepreneurship – Sole Trader;
  • companies with special/general/limited liability.

Within this jurisdiction, companies that were registered in other offshore zones as IBCs can continue their activities. They function under the same conditions and are endowed with the same financial benefits.

The legislative framework for international corporations is based on the following acts:

  • International Business Companies Act (1994);
  • Offshore Insurance Act (1994).

There is an opportunity to conduct any activity not prohibited by law. You need to obtain a special permit to provide banking, insurance, trust, reinsurance services in a jurisdiction. The license is valid for one year, and then which renewal is required.

Prohibited activities include commerce with residents. Also, ownership of real estate within the state is not allowed. It is prohibited to involve resident-type companies in management. The ban included the provision of registration agent services to resident corporations.

With regard to taxation, the main IBC Act 1994, in its 111th section, companies are exempt from taxes. IBC does not pay fees on income, capital gains and distributed earnings.

Company registration in the Niue jurisdiction

To register a company, it is enough to collect a package of required documents and submit for consideration to the commission. Registration approval takes two business days. By law, it is possible to acquire ready-made companies.

There are basic following rules for IBCs.

  • The name must be unique. The name may contain words such as Societe Anonyme, Limited, Corporation and others.
  • The main documents for the foundation are the Constituent Memorandum and the Charter.
  • The authorized capital of an offshore company is not limited, the nominal amount is 50,000 USD.
  • Currency control of operations is not performed.
  • You can store constituents and other documents of the IBC anywhere in the world.
  • The director can be individuals/legal entities who are residents of any country. The minimum number of directors is from 1.
  • The company has the right to choose a bank to open an offshore account. The bank can be located in any country. The number of IBC accounts is not limited.
  • There must be a registration office within the jurisdiction as well as a registration agent.
  • Issue of own shares with/without par value, registered and bearer is provided.
  • Authorized nominee service. Shareholders have the right to own trust shares.
  • An offshore company is not required to maintain and submit accounting reports. No audit is performed.
  • It is mandatory to have a local registered agent for international companies in Niue. You need a director for running the business. The secretary or other employees are hired at the request of the founder or shareholders.

Our company has been operating in the Niue offshore zone for a long time. The specialists are well acquainted with the legal framework and are ready to take into account all the subtleties of the legislation. International Business Companies registration cooperation includes the provision of the following services:

  • checking the name of the new company in the register;
  • preparation of constituent documents – Memorandum, Articles of Association;
  • filling out and certification of registration forms;
  • submission of a package of documents for state registration;
  • making payments and state fees;
  • provision of registration and legal address;
  • nominee services;
  • opening offshore accounts in banks around the world;
  • shareholders registration;
  • services of annual support of the offshore;
  • administration of the company throughout the year from the date of establishment of the IBC;
  • provision of a round seal of the company – Сorporate Seal;
  • assistance in obtaining certificates/licenses in the offshore zone;
  • connection of payment systems;
  • notarization of documentation.

For those who wish to purchase a ready-made company in Niue, there is an opportunity to consult with specialists before making a purchase. Our company provides an opportunity to purchase a ready-made IBC. Its renewal takes two working days.

The advantages of such an acquisition allow you to start working almost immediately. The cost will be almost equal to the registration of a new company, but you will get the result much faster. Such campaigns have a good legal status, so contact us now. Get expert advice.

 

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