Why choose New Zealand as an offshore financial centre?
New Zealand is a stable parliamentary democracy, part of the British Commonwealth and engaged with the rest of the world through a host of free trade agreements. With an English legal system, and English as its main language, it’s similar to the UK in many respects. The country also belongs to many high profile international organisations, such as the Organisation for Economic Cooperation and Development (OECD) and the World Bank.
Business-friendly New Zealand
In the World Bank’s 190-nation Doing Business Rankings this year, New Zealand took the top slot for the second consecutive year for ease of doing business and for starting a business. This small nation ranked higher than Britain, Australia, the US and Canada.
In 2017-2018, the World Justice Project (WJP) Rule of Law Index ranked New Zealand seventh out of 113 countries and jurisdictions worldwide for adherence to the rule of the law. Factors considered in this evaluation includes absence of corruption, open government, fundamental rights, order and security, regulatory enforcement, civil and criminal justice. Once again, it ranked higher than all the countries above.
In 2017, Forbes rated New Zealand the second Best Country for Business, ahead of Britain, Australia, the US and Canada, for personal freedom and investor protection, property rights, innovation, taxes, technology and low corruption, in addition to a lack of red tape.
Based on the above rankings, New Zealand represents a perfect environment to do business coupled with the regulations necessary to protect your investment.
In light of these acknowledgements, New Zealand’s Ministry of Business, Innovation & Employment has said that it is “focused on continuing to support the development of New Zealand’s business landscape while sharing our knowledge and expertise with other countries.”
Politics and Government
New Zealand’s Parliament consists of the Queen, represented by the Governor-General, and the House of Representatives. The Parliament is more powerful than the monarchy, with its members democratically elected and known as MPs.
According to the Legatum Prosperity Index, an important survey ranking countries based on factors such as national wealth, education, safety and governance, New Zealand comes in at number two for the second consecutive year. With its open market, freedom and strong sense of society, this is one of the best-governed nations in the world.
New Zealand is modern, sophisticated and politically stable, ranking at the top of developed nations for government transparency, civil rights, business and financial strengths, as well as for lack of corruption.
Over the past four decades, the government has transformed New Zealand from an agrarian economy, dependent on the UK market, to a more industrialised, free market economy, able to compete on a global scale. Its largest trading partners are Australia, China, the US and Japan. Over the years, New Zealand has become more urban. In spite of this, agriculture and natural resources are still the country's primary industrial sectors.
New Zealand’s wealth has also grown steadily over the last decade. In 2016, its GDP was US$184.9bn, as reported by the World Bank. In the same year, GDP per capita was US$39,412. According to Statista, current GDP growth rate is 2.92% pa, projected to rise to 3% by 2020.
The country’s roads cover almost 54,000 miles, including state highways and local roads, which link 7 international and 28 regional airports as well as 14 ports.
New Zealand also has an extensive rail network, with 2,400 miles of track crossing the country. Ferries between the two main islands carry more than five million passengers each year as well as trucks and trains. The government has said it is committed to continuing programs to grow exports, develop capital markets, boost innovation, raise productivity and improve infrastructure.
In broad terms, residents of New Zealand are taxed on their worldwide income whereas non-residents are only taxed on income derived within New Zealand. Even that can be mitigated by concession and double tax agreements. The regime has been further simplified, with no capital gains tax, stamp duty, inheritance or estate tax. Indeed, it has been ranked as one of the most competitive tax systems in the developed world.
In summary, for those seeking higher returns and privacy, New Zealand clearly offers all the advantages of a long-standing offshore centre. To find out more about the benefits of opening an offshore account, visit Vivier & Co today.
Vivier is a boutique financial services firm offering a complete banking package which includes: current accounts, savings accounts, debit cards, an online platform, and international money transfers. Vivier also offers escrow accounts which assist companies to facilitate international trade and mitigate their risk on critical transactions.
Vivier and Company
Level 13, 92 Albert Street
Auckland, New Zealand
This release was published on openPR.
Permanent link to this press release:
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release Why choose New Zealand as an offshore financial centre? here
News-ID: 1095139 • Views: 285
More Releases from Vivier and Company
How Much More Can You Possibly Earn On Your Savings Account?
Vivier & Co has launched a calculator or online returns comparison tool that makes it quick and easy for you to calculate what return you can expect from a Vivier savings account and compare it against what you’re currently receiving on your savings at your local bank. The calculator is easy to use and tells you what monthly and annual return to expect from a Vivier rolling notice or fixed term
Five facts about offshore banking
Many misconceptions exist about offshore banking. Ideas such as foreign bank accounts are illegal or that their services are only used by the super-wealthy frequently emerge in the media. In reality, there are many similarities between local and offshore banking; the latter being much more rewarding and private. Here are five interesting facts about offshore banking. 1. Offshore banking is legal There’s nothing illegal about holding an overseas bank account as long
Vivier Group Appoints New CEO
Vivier, the multinational financial services group, has appointed Martin Haschka Chief Executive Officer, effective December 2017. Martin has over 20 years’ experience working within the financial services industry in a number of high ranking executive roles. Martin brings to the Auckland-based Group a wealth of knowledge from the financial sector, in particular in the areas of mergers and acquisitions, corporate and board affairs as well as financial transformation. Martin’s new role
More Releases for Zealand
MakeMyAssignments.com provides customized help in New Zealand
We all cherish the countless memories of school life and college life. It reminds us of the fun-filled, stress free days. But one thing that bothers every child during this blissful tenure is the workload that is infused on them. Many a times, the amount of work is unreasonably high that it totally takes away all the frolic and induces a sense of helpless and a will to escape. Students
Retailing in New Zealand
Summary This report helps to analyze competitive developments such as joint ventures, strategic alliances, mergers and acquisitions, new product developments, and research and developments in the Retailing in New Zealand Description Retailing in New Zealand experienced a positive performance in 2016, driven by the strong demand for domestic and international goods and services. This owed much to continuing economic recovery, the improvement in employment and the rise in migrants, especially in major cities
Global Lixisenatide Market 2017- Sanofi-Aventis, Zealand
The Report entitled Global Lixisenatide Market 2017 analyses the crucial factors of the Lixisenatide market based on present industry situations, market demands, business strategies adopted by Lixisenatide market players and their growth scenario. This report isolates the Lixisenatide market based on the key players, Type, Application and Regions. The Lixisenatide industry research report mainly focuses on Lixisenatide industry in global market. The major regions which contribute to the development of Lixisenatide
Manuka Honey Market Key Players: Comvita Limited (New Zealand), Watson & Son Ltd …
Market Research Future published a Half Cooked Research Report (HCRR) on Global Manuka Honey Market which is estimated to grow more than 4.3% during the period 2017-2023 Competitive Analysis- The major key players in Manuka Honey Market are Comvita Limited (New Zealand) Watson & Son Ltd (New Zealand) Manuka Health (New Zealand) API Health (New Zealand) Wedderspoon (New Zealand) Mossops Honey (New Zealand) Cammells Honey (New Zealand) Manuka manufacturers across various regions follow the strategy of improving their existing product
Bluetooth System Measures Progress in New Zealand
Sophisticated Danish technology, deployed and operated by Beca, is now being used by the New Zealand government to demonstrate the benefits of investment in New Zealand’s transportation network. The system, imported from Blip Systems in Denmark, involves tracking anonymous Bluetooth devices such as cell phones, headsets, in car navigation systems, as they travel in New Zealand, and using this information to identify travel times and route preference. The Bluetooth Address´
New Zealand Mine Searches For Survivors
Pike River mine (in New Zealand) where 29 people have been missing since an explosion Friday, is being searched by a new robot after the first one broke down. Engineers will soon complete the drilling of a 15cm (6in) wide test and 160m-long shaft that will allow them to assess the air quality. Dangerous levels of methane and carbon monoxide is suspected to be in the mine, which has hampered all