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New Zealand Financial Company

(When a Bank is not technically a bank)

 Article Reserve Bank Governor

A New Zealand Financial Company (NZFC) can offer banking services to both private individuals and corporations worldwide, with no limitations on the number of customers, amounts on deposit or number of currencies. The NZFC can offer virtually anything a fully licensed bank can offer, but the word BANK cannot be included in the name. The words SAVINGS and LOAN can be used. These structures are sometimes referred to as an Offshore Finance Company (OFC) although it can operate onshore as well.

There are no reserve requirements laid down for this type of structure and there are no minimum capital requirements. The business can be operated from our premises using our staff, or your staff. It can be online if required with administration in your own offices complying with the local laws.

 NZ - Financial Centre

Activities of an NZFC can include but are not limited to:       

• Deposit taking & lending       

• Cash management services       

• Current accounts       

• Savings accounts       

• Term deposits 

• Mortgages, personal & business loans       

• Wire transfer services       

• Payment processing services       

• Fund management

Annual audited accounts are required. These can be prepared in your own offices and audit completed by your local auditor provided that his firm is a member firm of one of the international groupings to enable sign off to be undertaken by the NZ partner firm.

A tax rate of only 2% on interest paid to your clients is a possibility. The tax rate on your New Zealand profit is currently at the rate of 30%. New Zealand does have Tax Treaties currently with 34 countries that prevent profits from being taxed twice. On the subject of tax you do need to make inquiries from professionals for your own particular circumstances.

To carry out some of the above functions and make offers to the public in New Zealand may require a Prospectus that complies with the relevant legislation. We can assist in this area also. The laws of countries where your activities are offered to the public do need to be complied with also. Generally private offers are not subject to such stringent scrutiny and legislation.

All inquiries please to info@finnet.com.au. Also see the website at http://www.offshore-bank.us/.

Do you have suitable software  to handle your banking business? Look at Bank Manger.