ARTICLES
" True, we build no bridges. We raise no towers. We construct no engines. We paint no pictures - unless as amateurs for our own principal amusement. There is little of all that we do which the eye of man can see. But we smooth out difficulties; we relieve stress; we correct mistakes; we take up other men's burdens and by our efforts we make possible the peaceful life of men in a peaceful state. "
- JohnW. Davis
NEW ZEALAND RESIDENT DIRECTORS OBLIGATORY
THE NEW ZEALAND FOREIGN TRUST EXPLAINED
New Zealand legislation has been passed requiring New Zealand registered companies and limited partnerships to have a director who lives in New Zealand or who is a director of a company in a prescribed enforcement country.
The New Zealand Foreign Trust ("NZ Foreign Trust") is an entity which provides non-resident persons an opportunity to utilise the economic and political stability and trusted reputation of New Zealand as a base to manage their assets, without the imposition of New Zealand tax on non-New Zealand sourced income.
NEW ZEALAND LIMITED PARTNERSHIPS
MOVING TO NEW ZEALAND:
MANAGING DUAL RESIDENCE
The New Zealand Limited Partnership is governed by a modern regulatory regime deliberately introduced to make New Zealand more attractive to overseas jurisdictions.
In today's global marketplace more and more people are choosing to move countries but maintain their old employment, directly or as a contractor, by working remotely and returning from time to time. In other cases, you might be coming up to retirement age, reducing working hours and spending several months in each country. In each of these cases, you will need to carefully consider your tax residence position and, where applicable, understand how to manage your dual residence.
NEW ZEALAND LOOK THROUGH COMPANIES
THE IMPORTANCE OF CAREFUL PLANNING
The New Zealand Look-Through Company is an entity providing all the advantages of separate corporate identity and limited liability, but with look-through treatment for tax purposes.
With New Zealand increasingly referred to as "the Switzerland of the Southern Hemisphere" more and more overseas families are making New Zealand their permanent home. Happily for the New Zealand residential property market, along with this decision comes the acquisition of what is usually a not insubstantial family home.
NZ TAX BENEFITS/TRAPS
NEW ZEALAND FACTS AND COMPANY INCORPORATION DETAILS
New Zealand has no generally applicable capital gains tax, no estate duties and, as of October 2011, no gift duties. In addition, the Government encourages new migrants to the country with a four-year tax exemption on their foreign sourced income. So far so good.
New Zealand comprises two main islands, the North and South Islands and other smaller islands. It is located in south-western Pacific Ocean.
NEW ZEALAND FACTS AND COMPANY INCORPORATION DETAILS
TAX EXEMPTION FOR NEW MIGRANTS
New Zealand comprises two main islands, the North and South Islands and other smaller islands. It is located in south-western Pacific Ocean.
New migrants to New Zealand and New Zealanders who have been away for at least ten full tax years qualify for a 48 month exemption on foreign sourced income. I asked Kevin Jones of JNZ Trust Company Limited to provide some insight into what this might mean for migrant families, and how they should best make use of this attractive concession.
TAX EXEMPTION
NZ TAX & ESTATE PLANNING TRAPS
Your move to New Zealand will naturally have tax consequences. Make sure you understand your obligations under New Zealand tax laws before you emigrate to New Zealand and make the most of the advantages available to you as a new migrant moving from the UK to New Zealand.
With New Zealand increasingly referred to as “the Switzerland of the Southern Hemisphere” more and more overseas families are making New Zealand their permanent home.
Happily for the New Zealand residential property market, along with this decision comes the acquisition of what is usually a not insubstantial family home.