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+1 (888) 647 05 40For the corporation to start generating income as quickly as possible, a corporation needs to find its niche and work quickly. Financial`s are considered the most reliable way to make money. The annual turnover of this sphere amounts to trillions of dollars. Therefore, when founding their legal entity, investors look for regions with the most favorable conditions to implement their ideas.
Oceania in general and New Zealand are supposed such places. Previously, these markets were simply ignored, but over the years, investors have noticed that it is also possible to build a successful business, which will be on the turnover not worse than in offshore areas.
The first thing a company needs to do is to open a legal entity. Only documented corporations can qualify for enrollment as financial services provider in New Zeland. The conditions for acquiring it are not the most stringent, but it takes time. Therefore, it is better to study the regional rules and grounds for the non-issuance of such docs in advance.
The region is doing a lot to attract external capital for its development. That is why New Zealand Financial Service Provider (FSP) licenses are issued almost weekly. But companies applying for them must go through several stages.
The first of these stages is the direct creation of a legal entity. In this country, any person or group of persons can establish a company. You just have to:
If these conditions are met, it is safe to apply for opening a legal entity. The main advantages of working with this region are:
Such conditions are rarely offered. Therefore, investors take the opportunity to open a business and work under these licenses in New Zealand.
Despite the significant benefits of working with a New Zealand FSP license, there are furthermore several minor inconveniences for such corporations. First of all, it is the search for a director and a senior employee among NZ residents. Because of the large influx of acquisitions, it is difficult to find someone with the proper qualifications among the local population.
Also, high taxes create problems for businesses. Companies have to pay 28% to pay income tax. Corporations also pay 15% VAT. In many countries, these rates are lower, but on average these are working market rates.
For many foreign corporations, starting a business means having to file annual returns and tax returns. If operating under this license, the process will not be difficult, but there must be a person on staff with experience and knowledge of local law.
There is not much money to be made in the domestic market, because the potential audience is less than 5 million. This means that the corporation needs to look for customers in foreign markets, which is not always easy. Apart from state subsidies, one can hardly expect support from the banking sector. Concessional lending for business is not developed here.
Despite the disadvantages, it is quite realistic to work in this market. Especially in the sphere of supplying FS. It is only necessary to study the market more carefully before opening a legal entity and obtaining a license.
After creating their legal entity, investors must decide on the type of authorization document they would like to acquire. Some New Zealand Financial Service Providers prefer to acquire several types at once. This is done by those who stand aware that in the future they will try to work in several areas.
The following types of docs are considered the most expected:
Once the representatives of the legal entity decide on the type of license, you can start the process of preparing documents to acquire it.
FSP New Zealand suppliers ought to remember some rules. Without them, it is difficult to expect to receive documents. Most corporations are subject to the following conditions to operate:
By complying with these rules, corporations can safely operate in the New Zealand market and make money.
Investors can apply for FSP in New Zeland on their own. But such applications will be considered long and scrupulous. On average, investors get their license within a year or a year and a half. In addition to the long wait, they will also face correction of errors, submission of documents, and a high percentage of refusals to process the document.
To avoid this we recommend contacting our managers. Each of our employees knows well the procedure for submitting documents and will immediately help you not only to choose the type of permit but also to collect the necessary documentation. Therefore, the percentage of license denials is minimal. Also, we can introduce it for priority consideration and you will acquire the necessary documentation within 11 weeks.
The international company Eternity Law International provides professional services in the field of international consulting, auditing services, legal and tax services.