New Zealand Finance Company cont ....

Finance Company Formation and Registration

• New Zealand registration of a Finance Company, establishing the entity that may legally carry on the business of banking and financial services. Includes Certificate of Incorporation and Constitution.

• A locally manned Registered Office that maintains statutory registers such as for shareholders, directors and directors certificates.

• Support and documentation service for transactions such as appointment and removal of directors, issue or acquisition of own shares and distributions /dividends that require special procedure and care.

• Making required filings with the Companies Office such as the Annual Return and after the issue of shares.

Approved Issuer Status and Income Tax Compliance

• Obtain a Tax File Number from the Inland Revenue Department for the Finance Company to enable the company to comply with the income tax.

• Application for and granting of Approved Issuer Status that will allow the Company to register securities such as Term Deposits and Savings Accounts.

• Registration of securities that the company wishes to issue such as Term Deposits, Savings Accounts and Cheque (Checking) Accounts. This enables the Company to pay interest to non-associated non-residents without the deduction of withholding tax and without disclosure to the Inland Revenue Department of whom the interest was paid to, on registered securities. Note: an Approved Issuer The Company must pay levy of 2% of the interest instead of tax.

• Completion and filing of Income Tax Returns and Approved Issuer Levy returns to keep the company compliant with local tax laws. Note 1: the necessary information must be supplied by the client and/or the client's accountant.

• Tax and Levy returns due included in Monthly Task Reminder and Tip emails

Anti-Money Laundering Compliance

• Model Anti-Money Laundering Company Policy (see below)

• Review of the company's client identification, record keeping and suspicious transactions reporting systems for compliance with the Financial Transactions Reporting Act 1996 and the Proceeds of Crime Act 1991.

Accounting and Auditing

• Appointment of a qualified Auditor recommended by us or as selected by the client. Note: this is required by the Companies Act 1993 unless you use our Nominee Shareholder.

• Appointment and liaison with a local qualified Accountant, if required. Note: the local professionals recommended by us or selected by the client will bill Accounting and Auditing services separately.

• Review of the company's proposed accounting systems to ensure that the company can meet the requirements of the Companies Act 1993 and the Financial Reporting Act 1993 that the company keep proper accounting records and produce financial statement that can be readily audited.

• Accounts Filing due included in Monthly Task Reminder and Tip emails.

• Filing the company's audited financial statement accounts with the Companies Office on receipt from the client, the company's accountant or its auditor.

Compliance Support for Laws Affecting Financial Institutions in New Zealand

• Review of the Finance Company's proposed business and operations, to advise the client of the local laws that may apply or affect the business.

• Keeping of Unclaimed Money register at the Company's registered office in New Zealand, and filing the register's contents as required, and support for the company to comply with the Unclaimed Money Act 1971 for handling unclaimed monies and the associated annual cycle of reports and payments.

• A list of laws that affect banking and financial services businesses operating from within New Zealand. This includes the Bills of Exchange Act 1908, Cheques Act 1960, Companies Act 1993, Consumer Guarantees Act 1993, Credit Contracts and Consumer Finance Act 2003, Electronic Transactions Act 2002, Fair Trading Act 1986, Financial Transactions Reporting Act 1996, Human Rights Act 1993, Investment Advisers (Disclosure) Act 1996, Minors' Contracts Act 1969, Personal Property Securities Act 1999, Proceeds of Crime Act 1991, Property Law Act 1952, Reserve Bank of New Zealand Act 1989, Securities Act 1978 and Unclaimed Money Act 1969.

• Links to the full text of the legislation online.

Monthly Task Reminder and Tip Emails

• List of all the tasks that are known to fall due within the next three months.

• Tips or links to resources to assist the efficient and accurate completion all tasks.

Responsive Support

• Email support for all aspects of the compliance support service and resources.

• First hour at no charge for all research and response to support calls.

• Fair hourly rate for effective resolution to all support calls that can be resolved by our office.

• Access to specialist professional advice, recommended by our office, for support calls that cannot be resolved by our office.

Local or Offshore Banking

• Bank introductions and account opening with a recommended local bank or offshore bank Director

• Provision of a local Director (negotiate fees personally with appointee).

Payment Instruments

• Review of the proposed payment instruments and the application of the Bills of Exchange Act 1908, Cheques Act 1960, Electronic Transactions Act 2002.

For all inquiries, please email us at GTGroup@safe-mail.net.

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