New Zealand financial company Information
Approved issuer status and income tax compliance
- Obtain a Tax File Number from the Inland Revenue Department for the Offshore Finance Institution to enable the company to comply with the income tax.
- Application for and granting of Approved Issuer Status that will allow the company to register securities such as Term Deposits and Savings Accounts
- Registration of securities that the company wishes to issue such as Term Deposits, Savings Accounts and Cheque (Checking) Accounts. This enables the company to pay interest to non-associated non-residents without the deduction of withholding tax and without disclosure to the Inland Revenue Department of who the interest was paid to, on registered securities. Note: an Approved Issuer Levy of 2% of the interest must be paid by the company.
- Completion and filing of Income Tax Returns and Approved Issuer Levy returns to keep the company compliant with local tax laws. Note 1: the necessary information must be supplied by the client and/or the client's accountant.
- Tax and Levy returns due included in Monthly Task Reminder and Tip emails
Anti-Money Laundering compliance
- Offshore Finance Institution Compliance Manual that includes chapter on Anti- Money Laundering laws with model Anti-Money Laundering Company Policy
- Review of the company's client identification, record keeping and suspicious ransactions reporting systems for compliance with the Financial Transactions Reporting Act 1996 and the Proceeds of Crime Act 1991.
Accounting & auditing
- Appointment of a qualified Auditor recommended by us or as selected by the client. Note: this is required by the Companies Act 1993.
- Appointment and liaison with a local qualified Accountant, if required. Note: Accounting and Auditing services will be billed separately by the local professionals recommended by us or selected by the client.
- Review of the company's proposed accounting systems to ensure that the company can meet the requirements of the Companies Act 1993 and the Financial Reporting Act 1993 that the company keep proper accounting records and produce financial statement that can be readily audited.
- Accounts Filing due included in Monthly Task Reminder and Tip emails.
- Filing the company's audited financial statement accounts with the Companies Office on receipt from the client, the company's accountant or its auditor.
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