Are you in a plan to start a company in New Zealand? Then why late you have taken the right decision to grow up your company in New Zealand. It's effortless process to register a limited liability company in New Zealand. This has enabled to be honor in the World Bank's Ease of Doing Business report with the number 1 ranking at New Zealand.
The agencies must do the registration process at the New Zealand Companies Office (NZCO). The applicants must first reserve a company name, and the business name must be done online. For a company, it should be incorporated the applicant and also a reserved name with the Registrar of Companies, together with at least 1 share, 1 shareholder, 1 director, a registered office and an address for service. The company name must be with a distinctive and can be reserved for up to 20 working days. The applicant will need to pay NZD10.22 for the name of the reservation.
Business Structure at New Zealand
Since you've decided to invest in New Zealand, it's obvious you'd have decided what kind of business you're going to invest. The 3 types of business forms operate in NZ, as listed below.
• Sole trader
• Partnership
• Limited Liability
Sole trader
A single trader is running a business alone. The trader also bears personal responsibility for all corporate taxes and debts. Usually, without any paperwork, a single trader business can be set up for Company Registration at New Zealand. They can employ people, but the trader controls, manages, owns, and has the right to all profits.
Partnership
For professional people who are in the farming industry, partnerships are most common. Partnerships can be an effective way of sharing the costs of business operations. A formal partnership agreement establishes many partnerships. So to all contingencies and possible conflicts, it must be well thought out. To start a company with a partnership, then no registration is required in New Zealand.
Limited Liability
A company to the own right for a formal and legal entity will separate from its shareholders or owners. They are a Shareholders' liability for losses is limited to their share of the company and ownership.
The limited liability company is the most successful corporate structure in New Zealand. It fosters confidence in the business by managing the relationships between investors/shareholders, directors and creditors and by providing a clearer picture of who and what customers, investors, and other stakeholders are dealing.
Step To Register A Company In New Zealand
The first thing to start a Company Registration process in New Zealand must request to reserve the proposed company name. By submitting a complete company detail form and paying the registration fee online, you are required to apply for company registration. The Companies Office will process the request after verification. Below are the minimum requirements for Company Registration In New Zealand.
• One director,
• One share
• A name reserved with a registrar of Companies
• Registered office, and
• An address for service.
