Annual renewal of a New Zealand LLC in 2024

Since 2003, Healy Consultants Group helps international Clients timely complete their annual New Zealand entity legal, accounting and tax obligations:

  • New Zealand LLC renewal steps

    • A month before the accounting year end, our Client will sign Healy Consultants Group’s re-engagement letter and settle our renewal invoice fees;
    • Within a month after accounting year-end, our Client will supply Healy Consultants Group with a trial balance and/or Profit & Loss statement and Balance Sheet;
    • Within a month thereafter, Healy Consultants Group will e-mail our Client i) draft financial statements for the New Zealand LLC and ii) a draft annual statutory return;
    • Together with our Client, our Firm will legally minimise New Zealand and international tax and secure an exemption from an independent statutory annual audit;
    • Within a month thereafter, Healy Consultants Group will timely submit to the New Zealand Inland Revenue Department (IRD) an accurate and complete statutory annual return;
    • If our Client’s company is subject to IRD penalties, our team will aggressively and skilfully negotiate a waiver of Government fees and penalties;
  • New Zealand Company renewal fees

    Healy Consultants’ average New Zealand company renewal fees:

    Services Fee (US$)
    New Zealand legal registered office fees for 1 year 1,200
    New Zealand Government fees 40
    Passive nominee resident director fees for 1 year 8,125
    Accounting and tax fees for a dormant company 950
    Accounting & audit & tax fees for an active company 2,700

  • Independent Statutory Annual Audit Steps

    • If an independent statutory annual audit is required, Healy Consultants Group will appoint a New Zealand independent auditor to timely complete the statutory audit;
    • For the accounting period under review, our Client dropbox us i) a trial balance and bank statements ii) sales invoices and contracts and iii) expenses invoices;
    • During the independent statutory annual audit, there is an 80% probability that the New Zealand auditor will revert at least one time to request for additional supporting documents to complete the audit and issue a final audit report.
  • Accounting and Tax considerations

    • New Zealand companies must submit annual tax filings before 31 March and settle provisional taxes on 15 January, 31 March and 7 May each year;
    • Standard corporate tax is 28%, payable on local and global income;
    • Eligible Look Through Companies (LTCs) pay no corporation tax. Healy Consultants Group will help determine LTC eligibility;
    • The standard GST rate in New Zealand is 13%. Healy Consultants Group helps Clients register for a GST number if annual company proceeds exceed NZ$60,000. We will file monthly GST returns on behalf of our Client;
    • New Zealand companies pay no capital gains tax if profit is generated from an overseas company or wholly-owned New Zealand subsidiary;
    • See this webpage for detailed New Zealand accounting and tax information.
  • Legal and Compliance Considerations

    • During New Zealand company renewal, our compliance team may ask for additional updated Know Your Customer due diligence documents. We expect our Clients to timely provide the same;
    • If our Client delays settling our renewal invoice, there will be a penalty to cover the costs of government penalties for late filing;
    • See this webpage for detailed legal and compliance considerations.

Contact us

For additional information on our company registration services in New Zealand, please contact our in-house country expert, Mr. Simon Guidecoq, directly:
client relationship officer - Simon