NZ Limited Partnership registration.
High tax image company allowing tax planning

The World Economic Forum ranked New Zealand 16th out of more than 100 economies. As the Limited Partnerships Act 2008 came into force on 2 May 2008 enabling registration of Limited Partnerships and Overseas Limited Partnerships in New Zealand - our clients can make use of this business tool combining onshore image with tax flexibility.

New Zealand Limited Partnerships - NZ LPs

We offer incorporation in a politically stable and economically prosperous country. New Zealand's legal system and political institutions were inherited from the United Kingdom. As such it is what is known as a 'Common Law' country. It is a member of the WTO, OECD and the United Nations.

Advantages

• It is a non-blacklisted entity with on-shore high tax image. New Zealand LP is interesting as a trading vehicle since it is not subject to the EU's information sharing regime, but is close geographically to Asia and Latin America.
• NZ LPs can be registered for EU VAT purposes.
• NZ LPs can make an ideal replacement of US LLCs as there is no FBAR reporting in relation to foreign bank accounts.

Taxation

New Zealand LPs are transparent for tax purposes. This transparency is achieved by attributing income of a partnership to the partners in accordance with the partners' share. Accordingly, where a partner is non-resident and the income is non-New Zealand source, then the partner will not be subject to tax in New Zealand.

Establishment

The Limited Partnerships Act 2008 came into force on 2 May 2008, enabling registration of Limited Partnerships in New Zealand.

A minimum of two partners is required to form a partnership: a general partner responsible for day to day management and authorizing distributions to partners and a limited partner. A limited partner will have the identity and participation in the partnership protected by statutory confidentiality, while the details of general partner will be public.

A partnership may be made up of any number of general and limited partners. A partner cannot be both a general and a limited partner at the same time.

A LP must have a New Zealand registered office and address for service. The following records must be kept at its registered office:

• the partnership agreement and all amendments to it;
• accounting records that correctly record and explain the LP's transactions;
• the LP's financial statements for the last 7 completed accounting periods of the limited partnership or the completed accounting periods since registration.

Upon incorporation we provide the apostilled copies of the following documents:

• Certificate of Registration
• LP extract
• LP agreement

Nominees

We can offer our nominees for confidential registration of a NZ LP. They will provide their details for the records with the Registrar thus maintaining the beneficial owner's privacy. Immediately after the incorporation all powers will be transferred to the beneficiary via a Power of Attorney (POA).

Procedure

Please provide three alternative names for your LP (the ending will be Limited Partnership or LP) and send by email a copy of the beneficial owner's passport and a proof of address (a utility bill or a bank/credit card statement stating the address). We will reserve the name for you and send an invoice with wire transfer details. When the fees are received we will register your LP within 4-5 days. Documents Apostilling will require 5-6 days more. Then we will ship the corporate documents to the address you provide by courier (DHL, TNT or similar).

Fees

Formation of a NZ LP including the registered office and the registered agent, complete set of the apostilled documents copies, annual maintenance with filing an annual return  EUR 950

Next and the following years fees (paid on the anniversary of the LP formation) EUR 550

Related services

Nominee LP partner  EUR 290

A General notarized and apostilled Power of Attorney in favour of the LP beneficial owner EUR 112

Assistance with opening a bank account - please ask for available options

Virtual office including mail forwarding (available locations Toronto, Canada and Wilmington, USA and telephone line diversion (Toronto or Wilmington to any destination) - please ask for available options

Offshore Web Hosting, flexible packages starting from  EUR 75/year. Please ask for quotation

New Zealand legislations. Taxation (Limited Partnerships) Act 2008

Please request additional information sending
a message to our fax numbers in:
UK: +44 870 421 1387
USA: +1 626 609 3984
or E-mail: info@privacy-solutions.com
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