The Land Without A Banking Law

Download or read book The Land Without A Banking Law written by Michael Magnusson and published by Opus Operis LLP. This book was released on 2013-11-30 with total page 236 pages. Available in PDF, EPUB and Kindle. Book excerpt: New Zealand is generally perceived as a high tax country and has consequently not been a target in the international campaign against offshore tax havens. The fact is that New Zealand offers secretive zero tax structures for offshore activities and perhaps even more remarkable, a legal framework that allows for virtually anyone to start a Bank without being subject to any capital or qualification requirements. New Zealand Offshore Finance Companies are Banks, both in a legal and practical sense, but not Registered Banks under supervision of the Reserve Bank of New Zealand. While there are laws in New Zealand regulating financial activities, there are no regulatory entry barriers as such for the business of banking when services are offered to non-residents only (offshore). This book will teach you how to form and register a New Zealand Company online and how to obtain registration as a bona fide Financial Service Provider (FSP) with legal capacity to offer banking services to any number of clients, resident anywhere in the world. The regulatory framework and upcoming changes to the relevant legislation are explained.