Ross Holmes Lawyers establish and administer:
We can only assist where the purpose is asset protection, and cannot assist if the purpose is taxation evasion or avoidance.
By using the latest technology, our fees are very competitive.
The benefits of New Zealand as an Offshore Financial Centre
The benefits of New Zealand as an Offshore Financial Centre are:
- If a New Zealand Limited Partnership (LP) carries on business solely outside of New Zealand, and has no New Zealand sourced income, non resident Partners of the LP have no New Zealand income tax liability, and do not have to file New Zealand income tax returns.
- New Zealand tax laws allow a non resident settlor to establish a trust in New Zealand without exposing that trust, its trustees, or non-resident beneficiaries, to New Zealand taxation, providing it does not earn income in New Zealand and there is a quaifying resident foreign trustee. As there is no erosion of New Zealand's tax base, collection of tax will not be an issue as far as the New Zealand Commissioner of Inland Revenue is concerned: see New Zealand as a jurisdiction for Offshore Trusts.
- No New Zealand taxes are paid by the Offshore Trust on offshore income which is trustee income or allocated to overseas resident beneficiaries.
- No New Zealand tax reporting is required.
- The settlor of the Trust can establish a New Zealand private trustee company to act as trustee of the trust. New Zealand company law also provides a simple procedure for transfer of registration of the company to another country in the event of an emergency: see New Zealand as a jurisdiction for trustee companies.
- • No audit of the accounts of the Offshore Trust or LP is required.
- • The trust and LP can access a number of New Zealand's Taxation treaties.
- • The costs are lower than in many tax haven jurisdictions.
- • New Zealand is a reputable country, with a stable political and economic environment.
- • The New Zealand trustee and other law applicable to such trusts and LP's is similar to those widely known and used in other Commonwealth jurisdictions. New Zealand's Trustee Act 1956 and the English rules of equity permit well structured modern trusts.
- • There are well developed communication, business and commercial infrastructure and a high standard of professional services in New Zealand.
- • New Zealand is not a party to the numerous treaties and conventions of the European states.
- • The assets/investments of the Offshore Trust or LP can be held outside New Zealand on behalf of the Trust by a custodian trustee/investment manager to provide security.
- • Requests for information can be made by Government agencies under the requirements of specific legislation).