New Zealand resident director

When incorporating a company in New Zealand, our foreign Clients will be required to appoint a resident director in New Zealand. Healy Consultants Group PLC will assist our Clients in fulfilling this statutory obligation.

Under the New Zealand Companies Act 1993, all companies must have at least 1 director who is ordinarily resident in the country. However, the shareholders can be of any nationality, ensuring full 100% foreign ownership. Kindly refer to these important considerations:

Advantages of appointing New Zealand resident director

  • By appointing a New Zealand resident director, our Clients will fulfil the statutory requirement and complete the company registration process successfully;
  • Healy Consultants Group PLC will prepare nominee director agreement to be signed by both our Clients and the nominee;
  • The agreement is to secure the interest of the nominee director. The nominee should remain just a name on the records and does not have any control over the day-to-day activities of the business.

Problems of appointing New Zealand resident director

  • For regulated industries such as Financial Service Provider (FSP) companies, the nominee resident director is subject to higher litigation and financial risk due to the high-risk business nature.

Fees

  • Healy Consultants Group PLC’s New Zealand individual resident director fees amount to US$8,200 per annum in unregulated industries. For Financial Service Provider (FSP) companies and other business entities in regulated industries, our standard fees are US$13,200 but may be tailored according to the complexity of our Clients’ business operations and our assessment of the legal risk to the nominee.

Accounting and tax considerations

  • With a resident director, Healy Consultants Group PLC believes that it will be easier for our Client to deal with government tax authorities.

Legal and compliance considerations

  • According to the Registrar of Companies, a resident director must i) either live in New Zealand or Australia and ii) be a director for a company registered in the country. The Registrar of Companies interprets “live in New Zealand” as a person who is present in the country for more than 6 months during a 12 month-period;
  • There is no limit on the number of directors that a company can appoint. Please note that New Zealand does not allow corporate directorship. In addition, the company will be required to publicly register the particulars of their directors and shareholders;
  • Before appointment, Healy Consultants Group PLC will provide our Clients basic KYC documents of our nominee to ensure he meets compliance requirements.

Multi-currency corporate bank account opening considerations

  • Appointing Healy Consultants Group PLC’s nominee as the resident director will increase the likelihood of corporate bank account approval;
  • Our nominee can represent our Client to travel to the bank for a face-to-face KYC meeting. As such, you will not be required to travel. Please note that additional fees may be included for this service depending on the location of the bank.

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Frequently asked questions

Contact us

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