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Thread: Setup business In NZ

  1. #1
    Join Date
    Jul 2008
    Posts
    52

    Default Setup business In NZ

    Hi,


    I was just wondering if i could setup a business in NZ without being a resident/citizen here.

    So that means the business would be 100% foreign owned as i don't have a nz residency or citizenship and operate it from abroad.


    I'd keep a office in Nz and maybe hire 1 person or more to manage.


    And i might apply for residency later if i wish to live in NZ.

    But do you think anything like this or anything similar is possible?


    Any experiences, information and advice are most welcome.

    Also are welcome any, possible links to places that might offer advice and help.


    Many Thanks.

  2. #2
    Join Date
    Jun 2010
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    Ōtepoti, Aotearoa
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    Default

    http://www.business.govt.nz/ might be a good start

  3. #3
    Join Date
    Jan 2007
    Location
    Chch, NZ
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    2,216

    Default

    I was just wondering if i could setup a business in NZ without being a resident/citizen here.

    So that means the business would be 100% foreign owned as i don't have a nz residency or citizenship and operate it from abroad.
    I would seek professional advice on the viability of the business operation first. I've heard countless of times where overseas owners have lost their share of the investment due to mis-management.

    If the intention of opening a business is to obtain PR at a later stage, then you still have to prove to IRD that the business is viable and trades on a regular basis, otherwise it could be viewed as a 'sham'.

  4. #4
    Join Date
    Jul 2008
    Posts
    52

    Default

    Thank you, guys.


    Had a look at that link but can't find any information regarding a foreign resident setting up a business in NZ.

    At the moment the question i really want answered is if this is allowed and has it been done before?

    It would be wonderful to hear from someone who has first hand experience or knows from someone else's expereince.

  5. #5
    Join Date
    Jun 2009
    Location
    Manchester > Now Tauranga
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    Default

    It must be possible as there are sufficient comapnaies advertising that they are 100% NZ owned to imply that the rest are overseas owned. And in general NZ seems to do everything it can (and rightly so) to attract overseas investment.


    The issues are about how you will manage it, as unless you hire and never come to NZ to meet the local staff, or see the office, then you'd need some form of work permit to be here I'd assume. As your visit to recruit and choose an office wouldn't be covered by a visitors visa I don't think. Although others have gone through the LTBV route, then I think the investment required to make that business useful in acquiring residency is quite large, in the 7 figures IIRC. But of coure if you would apply via the skilled migrant route, and just happen to already have ties in NZ through a business that you own then I don't think that would harm you, but at the same time I would doubt that you could claim the bonus points for the job offer from your own company.

  6. #6
    Join Date
    Dec 2008
    Location
    Christchurch
    Posts
    1,417

    Default

    I have no idea of the business you intend to set up (nor does it matter) but if you need to hire (very part time) someone to help you manage the ""on the ground in NZ" aspects of it, I would be happy to send you my CV!

    As for your question, I am pretty sure that only land ownership for foreigners is restricted (or controlled).

    A good way to start would be the NZ OIO webstie (Overseas Investment Office) to see what types of investment are considered sensitive.

  7. #7
    Join Date
    Oct 2006
    Location
    Waterloo, Lower Hutt
    Posts
    505

    Default

    Information on registering a company in NZ is available at http://www.business.govt.nz/companies/

    If you have a business overseas and wish to operate a business in NZ, you can register as an overseas registered business or you can register a NZ business with overseas based shareholders/directors.

  8. #8
    Join Date
    Oct 2009
    Location
    Whangamata - Coromandel NZ
    Posts
    404

    Default

    Get professional help, decisions like this are too important to mess up.

  9. #9
    Join Date
    Jul 2008
    Posts
    52

    Default

    Thanks eternalkiwi for the advice, Surely GrumpGoat you might be a great help specially if you have administration/marketing expereince(you may pm me and informal cv if you like)

    Thanks for the concern Aquarian, i will get professional help.

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