No, unfortunately once your trademark application is submitted, the fees are non-refundable. It is recommended to prepare thoroughly before submitting an application.
New Zealand is a sovereign island country, sitting at the boundary between the Australian and Pacific continental plates. The country geographically comprises of two main landmasses – the North Island and the South Island and around 600 smaller islands. It is a land of great contrast and diversity with a unique array of vegetation and animal life, much of which developed during the country’s prolonged isolation. It has sizeable manufacturing and service sectors complementing a highly efficient agricultural sector. In the year 2010, New Zealand was ranked as the 8th happiest country in the world.
Company Incorporation in New Zealand
Business in New Zealand can be registered as one of the following legal entities.
1. Sole Trader
An individual who operates a business on his own is a sole trader. A sole trader does not share profits/losses with anyone. More often the business of a sole trader is established without any paperwork. Starting a small business in New Zealand as a sole trader is preferred by many entrepreneurs as the incorporation cost is comparatively low.
One of the most common legal entities, Partnership is an effective way to share the business operations cost. A partnership is based on an agreement which is signed initially by all the partners of the company. Partnership firms are relatively easy to start and are prevalent amongst large and small businesses in NZ.
3. Limited Liability Company
It is a corporate structure whereby the members are not personally liable for the company’s debts or liabilities. Limited Liability Company in NZ is popular among the businessman. It combines the characteristics of a corporation and partnership or a sole proprietorship. It is recognized as a separate entity from its owners and thus warrants them a limited liability to the extent of their financial involvement.
4. Limited Attribution Company
They can be listed or unlisted public businesses. A listed company shall have at least 3 directors in which 2 directors reside in the country. Incorporating a company in NZ and further registering is relatively simple, and must be done with the Registrar of Companies. The company must also adhere to the suffix 'Ltd' to prove its legal status.
5. Offshore Company
If an investor chooses to register their business as an offshore company then they can set-up their business outside the jurisdiction of its operations. Business owners must abide by the regulation of the offshore jurisdiction, and must not trade within the jurisdiction. New Zealand offshore companies enjoy vast benefits like reduced set-up cost and low taxes.
It is an extension of an overseas established company and does not constitute a separate entity. A branch in New Zealand must register with the Registrar of Companies. The company must file separate audited financial statements for both the parent and NZ branch operations. If you are thinking of setting up a business in a foreign land then NZ is the way to go as there are many business opportunities for in New Zealand for an investor.
Benefits of Setting Up a Company in New Zealand
Starting a business in NZ brings along the following benefits:
- New Zealand is easily accessed by air travel and has the time zone advantage and same-day access to Asia and parts of America and hence is strategically located.
- The country has a modern, developed economy and a high standard of living. The current New Zealand government’s economic objectives are centered on pursuing free-trade agreements and building a “knowledge economy”.
- An LLC in New Zealand can be set up within a week with only 1 director and 1 shareholder.
- The minimum paid-up share capital for starting your own business in New Zealand is as low as US$1.
- New Zealand has been ranked number 1 in Ease of Doing Business according to the World Bank report. Hence starting a company in NZ is relatively easy.
Who We Are
Business Setup Worldwide is a business consultancy firm that provides expert guidance in incorporating a business across the world. Our services include company formation and registration services, taxation, accounting & bookkeeping, audit and assurance, legal (Includes Intellectual property law) and branding consultation. At Business Setup Worldwide, we have an experienced team of professionals, specialized in advising the right kind of business setup considering the need. Our consultants design specific services which help business owners to start a business in a cost-effective manner in your desired location.
When you are venturing to a new location to start a business it is important to take local assistance for the same. The process of setting up a business in a foreign land can be confusing and can create nuisance at the same time. Business Setup Worldwide solves this exact challenge in the country of your preference. We are specialized in this domain and provide turnkey solutions for setting up a business entity. Our services include a methodology that cares about approvals, legal compliances, and registration with authorities and other required formalities. We have years of experience in providing integrated business setup services across the world.