| Type of license required |
Unlicensed |
MIS |
Derivative issuer |
DIMS |
Banking license |
| Summary at a Glance |
|
|
|
|
|
| Total year 1 engagement set up costs? |
US$52,760 |
US$54,150 |
US$51,900 |
US$37,650 |
Contact us |
| Minimum paid-up capital required? |
US$1 |
US$50,000 |
US$690,000 |
US$20,000 |
US$ 22 million |
| Minimum capital recommended? |
US$100,000 |
US350,000 |
US$690,000 |
US$150,000 |
US$ 22 million |
| Our Client must travel during the engagement? |
No |
No |
No |
No |
No |
| Time required to complete the engagement? |
8 months |
2 years |
18 months |
1 year |
3 years |
| Resident director required? |
Yes |
Yes |
Yes |
Yes |
Yes |
| Can Healy Consultants provide office space? |
Yes |
Yes |
Yes |
Yes |
Yes |
| Experience requirements for senior managers? |
Yes |
Yes |
Yes |
Yes |
Yes |
| Corporate tax rate payable? |
28% |
28% |
28% |
28% |
28% |
| Can I offer services to retail customers? |
No |
Yes |
Yes |
Yes |
Yes |
| Incorporation requirements |
|
|
|
|
|
| Type of business entity most commonly used? |
LLC |
LLC |
LLC |
LLC |
PLC |
| How long to set the company up? |
1 week |
1 week |
1 week |
1 week |
1 week |
| Minimum number of shareholders? |
1 |
1 |
1 |
1 |
1 |
| National shareholder required? |
No |
No |
No |
No |
No |
| Individual and corporate shareholders allowed? |
Yes |
Yes |
Yes |
Yes |
Yes |
| Minimum number of directors? |
1 |
1 |
1 |
1 |
5 |
| Resident director required? |
Yes, 1 |
Yes, 1 |
Yes, 1 |
Yes, 1 |
Yes, 3 |
| Minimum paid up share capital before licensing? |
US$1 |
US$1 |
US$1 |
US$1 |
US1 |
| Public register of shareholders & directors? |
Yes |
Yes |
Yes |
Yes |
Yes |
| Licensing considerations |
|
|
|
|
|
| License application submitted to whom? |
No license required |
FMA |
FMA |
FMA |
RBNZ |
| Licensing fees payable to the licensing authority? |
N/A |
US$2,500 |
US$7,400 |
US$1,500 |
US$25,000 |
| Minimum amount of net assets for the license? |
N/A |
US$50,000 |
US$690,000 |
US$20,000 |
US$ 22 million |
| Minimum amount of cash assets & equivalent? |
N/A |
US$25,000 |
US$345,000 |
US$10,000 |
Variable |
| Office premises required? |
Yes, for FSP |
Yes |
Yes |
Yes |
Yes |
| Do I need to appoint a resident AML/CFT officer? |
No |
Yes |
Yes |
Yes |
Yes |
| Dispute resolution scheme required? |
Yes |
Yes |
Yes |
Yes |
Yes |
| Experience requirements for senior managers? |
Yes, for FSP |
Yes |
Yes |
Yes |
Yes |
| Average time required to obtain the license? |
6 months |
1 year |
1 year |
9 months |
2 years |
| Tax and accounting considerations |
|
|
|
|
|
| Corporate tax rate payable? |
28% |
28% |
28% |
28% |
28% |
| Capital gains tax payable? |
No |
No |
No |
No |
No |
| Withholding tax rate on dividends paid overseas? |
Up to 30% |
Up to 30% |
Up to 30% |
Up to 30% |
Up to 30% |
| Withholding tax rate on interest paid overseas? |
Up to 15% |
Up to 15% |
Up to 15% |
Up to 15% |
Up to 15% |
| Annual financial statements required? |
Yes |
Yes |
Yes |
Yes |
Yes |
| Statutory independent annual audit required? |
No |
Yes |
Yes |
Yes |
Yes |
| Local GST rate? |
15% |
15% |
15% |
15% |
15% |
| Tax incentives available? |
Yes |
Yes |
Yes |
Yes |
Yes |
| Access to double tax treaties? |
Yes |
Yes |
Yes |
Yes |
Yes |
| Corporate bank account considerations |
|
|
|
|
|
| Healy Consultants |
ANZ |
ANZ |
HSBC |
Westpac |
Citibank |
| How long to open bank account? |
4 weeks |
4 weeks |
4 weeks |
4 weeks |
4 weeks |
| Do I travel to open the bank account? |
No |
No |
No |
No |
No |
| Multi-currency corporate bank account? |
Yes |
Yes |
Yes |
Yes |
Yes |
| Multi-currency corporate visa debit cards? |
Yes |
Yes |
Yes |
Yes |
Yes |
| Corporate ATM card available? |
Yes |
Yes |
Yes |
Yes |
Yes |
| Bank rating by World Economic Forum? |
2 |
2 |
2 |
2 |
2 |
| Ease of getting credit by WEF? |
11 |
11 |
11 |
11 |
11 |
| Can I open an additional account outside of NZ? |
Yes |
Yes |
Yes |
Yes |
Yes |
| Estimate of engagement costs (US$) |
|
|
|
|
|
| Estimate of total outgoings in Year 1 |
US$52,760 |
US$54,150 |
US$51,900 |
US$37,650 |
Contact us |
| Sample invoice? |
View invoice PDF |
View invoice PDF |
View invoice PDF |
View invoice PDF |
Contact us |
