Company-nz | Our Services

By: Company-nz  05-Apr-2012
Keywords: Financial Service, Financial Service Provider

Company-nz | Our Services

We offer a complete range of services for the formation and registration of a legally compliant Financial Service Provider (FSP) in New Zealand. An FSP can legally engage in activities and offer services such as:

  • •  Deposit Taking
  • •  Keeping, investing and managing money, securities and investment portfolios on behalf of third parties.
  • •  Providing credit under a credit contract
  • •  Operating a money or value transfer service
  • •  Issuing and managing means of payment
  • •  Giving financial guarantees
  • •  Changing foreign currency
  • •  Entering into or trading on an exchange, in an over-the-counter market or otherwise, the following on behalf of another person:
    money market instruments (including cheques, bills, certificates of deposits);
    foreign exchange (including forward foreign exchange contracts);
    derivative products including, but not limited to, futures and options;
    exchange rate and interest rate instruments, including products such as swaps and forward rule agreements;
    transferable securities;
    other negotiable instruments and financial assets

Why New Zealand?
New Zealand repealed its entire Banking Act in 1995 ( to access the Banking Act Repeal Act 1995) and thereby facilitated free entry in to the business of banking. There are several laws regulating a financial business, but New Zealand is unique in the sense that an international banking entity can be established without capital requirements, qualification requirements or excessive supervisory requirements. If banking services are not offered to the public in New Zealand, the requirements of prospectus, supervisory trustee and investment statements as set out in Part II of the do not apply. FSPs offering services to non residents also operate outside the geographical scope of the Non-Bank Deposit Taker (NBDT) regulations as defined in the . The NBDT regime only applies to FSPs offering financial services to the public in New Zealand. See our section for further information about FSP related legislation.

So what is new?
The New Zealand government opened the doors to its long awaited Financial Service Provider Register (FSPR) on August 16, 2010. Banks, Building Societies, Credit Unions, Finance Companies and other Financial Service Providers are required to register. The FSPR is the result of New Zealand passing into law on September 29 2008. This law is meant to strengthen the confidence in New Zealand based Financial Service Providers by implementing a requirement for all such entities and individuals to be registered in the FSPR. This requirement applies regardless of whether an FSP is offering services to clients located within or outside New Zealand. FSPs offering services to retail customers, whether within or outside New Zealand also need to become members of a Government approved Dispute Resolution Scheme (DRS) or the Government Reserve Scheme before being able to register as an FSP. A DRS is basically a third party Arbitrator authorized by the government to help settle any dispute in which an FSP might find itself with a retail client. This requirement is meant to strengthen consumer protection in the financial industry. Joining a DSR is a rather straight forward process, so if you are planning to offer services to retail customers this requirement would not constitute an obstacle or cause any significant delay when establishing your FSP. Please visit our FAQ section for the definitions of retail and wholesale customers.

So what does all this mean?
It means that if you offer financial services using a New Zealand based Company and all your clients are based outside New Zealand, your Company will still operate outside the gegraphical scope of Part II of the Securities Act 1978 and it will not be subject to regulation by the Reserve Bank as a non-bank deposit taker. You should however register your Company as an FSP in the new Register and if you are offering services to retail customers your Company should also join a government approved Dispute Resolution Scheme before applying for FSP registration.

The FSP Advantage
In our opinion the new FSP registration requirement for a New Zealand Company offering Financial Services is an excellent measure to increase the credibility and usability of such entity. With a registered FSP you will not be dependent on legal interpretations and regulatory exemptions when required to demonstrate that your Company is indeed a bona fide provider of Financial Services and properly registered as such. All registration documents are issued by the New Zealand government (Ministry of Economic Development) and legalized with Apostille for international recognition.

So what can we do for you?
We can offer new Company formations with the name of your choice as well as entities “off the shelf” for immediate delivery. We have Companies which have already been registered as members of a Dispute Resolution Scheme and thus authorized to offer services to retail customers as well as Companies registered as FSPs but not members of a DRS. The latter should be used for offering services to Corporate clients, qualified/sophisticated investors, related Companies etc. Please review our and sections for further clarification.

Our typical FSP Package includes the features described below:

FSP Legal Entity
Limited Company registered in New Zealand complete with registration in the separate Financial Service Provider Register ( We have existing entities available for immediate delivery. Same day name change is possible.

FSP Registration
We register your Limited Company as an FSP in the new Financial Service Provider Registry (FSPR) and obtain and legalize the relevant Company registration documents and FSP documentation for international recognition.

Registered Office and Resident Agent
We provide the legally required physical presence in New Zealand and maintain the Company documents which are legally required to be kept at your Registered Office. Our local NZ office complies with government inspection visits, files your annual return to the Company Register and the FSPR and ensures in general that your Company maintains legal good standing.

Debit/Credit Card Issuing
We can provide access to the most attractive international card platforms in multiple currencies whether you are looking for a low volume generic card program or a co-branded fully customized and integrated card system.

International Wire Clearing
We introduce you to Banks and/or International Wire Clearing Intermediaries in order to facilitate the receipt and transmission of funds in any major currency to and from any country.

Ongoing IT Support
Our firm provides ongoing IT support and secure offshore hosting to a growing number of Financial Institutions. You can engage our IT services without committing to any minimum contract period.

Please do not hesitate to contact us for further details about our products and services. We are looking forward to hear from you and to hopefully get the privilege of assisting with the establishment of your international banking business.

Keywords: Financial Service, Financial Service Provider