The agency that does the business registration in NZ is the New Zealand Companies Office (NZCO). One can register a company with New Zealand CO through the following steps:
The applicant must register a business name in NZ via paperwork or an online method. One has to check in NZ companies register to see that the name you have selected is available on the site. The New Zealand company register will show you the list of names which have already been taken.
The reservation of the company name must be done with the Registrar of Companies, with at least 1 share, 1 shareholder, 1 director, a registered office, and an address for service. The applicant will need to pay NZ$10.22 for the name reservation. The company name must be distinctive and can be reserved for up to 20 working days.
The New Zealand Business Number (NZBN) is a unique identifier for your business. This number links to the information others need while working with your company. It is easier to do business once you get a company registration number in NZ as you won’t have to keep repeating the same information over and over when dealing with someone new or when something changes. Sole traders, partnership firms, and self-employed individuals can get the NZBN online for free and if you are a company, you will automatically get an NZBN.
A company constitution includes the rights, powers, and duties of a company, its board, directors, and shareholders. If you are a company with limited liability, it is not mandatory to provide a constitution. Also, if you are setting up a small business in NZ or are a sole trader you have no compulsion on providing company constitution.
The applicant has to fill out all the necessary paperwork along with providing the authentic documents. This can be done online. After the form is filed and submitted, the application will get processed and the applicant will receive an email with the director and shareholder consent forms. The applicant must then get the forms signed and faxed back to the NZCO office within 20 days failing which the application will expire. The certificate of incorporation will be issued within minutes after the last consent form has been sent.
Once the incorporation process is completed, the investor has to obtain Income Tax and GST license or certificate from the Inland Revenue for doing business in NZ. A company in NZ has to register for GST if it is earning more than NZ$60,000 each year. The documents needed to register for the same are:
For Inland Revenue Department (IRD) number:
For GST number:
This whole process takes less than a day, and the applicant needs to pay NZ$150 for company incorporation in New Zealand.