Get updates for small businesses from across government about new services, law changes and more. Some businesses start hiring employees right from the beginning, while others take some time before bringing people on board. It can take up to 8 weeks and you pay a fee of $150 (plus GST). Our guide gives you the complete picture of what's involved in starting up, from testing your idea to registering a trade mark. You'll also need to register for the Trade Single Window (TSW). Company directors(external link) — Companies Office. Profits can also be distributed to shareholders as dividends, who are taxed individually on their personal income. The Companies Office is the government agency responsible for administering New Zealand’s business registers. There’s a lot to think about when you’re a small business owner - but you don’t have to do it alone. A company exists as a formal and legal entity in its own right. Your company’s profits — what’s left of your income after expenses — are taxed at the company tax rate of 28%. Register With Us If you are not able to find a suitable job to apply for but would like to register with us, please follow the link below. “That’s the problem with a lot of businesses. In the case of Common Ledger, an online platform that lets accountants access clients’ financial data regardless of the software format they use. You'll need to register for GST if you're earning more than NZ$60,000 each year. When you start a company, you're automatically covered by ACC from day one. You’ll also need to find a formal structure for your business. Once online you can complete your registration by: When you register a company it will automatically get an NZBN (New Zealand Business Number) — a unique identifier that any business in New Zealand can now have. It’s to comply with new anti-money laundering rules. You can do this online. Companies Register. There are pros and cons to each of these options. There are a number of different people and organisations you can go to for support, help and advice. Register.com offers domain name registration, web hosting, website design and online marketing - all in one place. IP will be important throughout your business’ lifespan. If you expect to start looking for employees right away, here are some tools, tips and visual guides to tell you what you need to know about hiring. Every company must have at least one share and one shareholder, with a record of this on the company’s own share register. Are you planning to fund your business yourself, borrow money, or bring on investors? The reservation of the company name must be done with the Registrar of Companies, with at least 1 share, 1 shareholder, 1 director, a registered office, and an address for service. Here’s where you’ll find information about: You’ll also find templates to help you get started. Ha thinks bank loans aren’t a safe business practice because she can’t prove how much income she’ll make. This is known as a limited company — you’ll see the shortened form “Ltd” at the end of company names, eg Sweet As Candy Ltd. Use ONECheck to see if you can use a name for a business or brand. Test your knowledge of expenses and allowances by taking our quiz. You must give this information to the Companies Office when you register your company. New Zealand is the best jurisdiction in the world to set up a financial services company because: Within 8 months, Healy Consultants can register a financial services company in New Zealand for our Client with limited regulatory oversight. Complete our online form and we can issue your Certificate, IRD & … ... Companies register Where you can search for and maintain companies incorporated or registered in New Zealand. The product was then developed, tested, and investors were found who believed in them enough to back them, and their product, financially. Understanding the types of advice you might need will help you figure out where to go for support. This NZ Limited Company have … Just three quick questions and you’re on your way. If you wish to run a franchise business, you would register a private company. It's quick, easy and free. Ways to structure your business. Company Folder is a collection of statutory documents every company must maintain in order to legally operate (“under the Companies Act 1993”) in New Zealand. What you pay will be based on your company's business activity. Get emails for this topic You don't need to pay for this until after you submit your first tax return. Choosing a name for your business is a big decision, especially if you’re planning to build a brand around it. After the initial development came six months of market research, speaking with accountants around the world. Some people thrive on launching businesses and will do so several times over their careers. Your company must file an annual return with the Companies Office each year to confirm it’s still operating as a company. This will help us deliver tools, tips and advice that support advisors and are most useful for small businesses. Use our free ONECheck tool to check available business names, trade marks, web domains and social media usernames in one quick search. Other companies list their shares on the stock exchange where the public and other companies can buy them. It includes the: There’s a small fee to file an annual return. The directors of a company can only apply for removal from the register if the company's constitution allows them to. You can always adopt a constitution later. You can search for registered NZ companies. With one search you can see its availability as a business name, trade mark, web domain, and social media username. It’s not the owner — it’s the customers.”, Ha avoids borrowing by only buying what she can afford and avoiding frivolous or spur-of-the-moment business purchases. If they do work for the company they can also take a shareholder-employee salary, on which they’ll need to pay their own tax. New Zealand, including their addresses, directors and shareholders; other countries, but which are registered on the Overseas Register to do business in New Zealand. When a company is registered in New Zealand it automatically gets an NZBN. Include banking information, proof of your income — including cash income — expenses and cashbooks. Look-through companies(external link) — Inland Revenue. Find out how to work out your business risks, and the types of insurance that can help protect you. You or your accountant can get your NZBN on the NZBN website. If you’re importing goods worth more than NZ$1,000, you need a client code and a supplier code. This means your company will be taxed like sole traders or partnerships. While Ha consciously decides not to take on debt, loans can be a viable option for those who carefully assess whether borrowed money can be paid back on time and put to good use. The more expenses you claim, the lower the tax will be, so it pays to understand what you can and can’t claim for. Quick-focus planning for growing businesses, Get support from people who can drive your business forward, Use our Compliance Matters tool to find out, Insights and articles on the latest business topics, Use the Employee Cost Calculator to estimate costs, Guide to keeping people healthy and safe at work, Tips on keeping track of employee performance, Tailored to your business and everyone you employ. Reserve the Company Name. Before you start a company. Your professionalism and customer service is totally satisfying and greatly appreciated. But who decides that? Make sure you work on the right things for your growing business with our quick-focus planning template. Use this guide to work out how much it might cost to start and stay in business. She knows her industry, and she knows there’s a market for the bespoke products she wants to create. Buying a business. In New Zealand, you can register (incorporate) a company online through the Companies Office. Before you start, make sure you have a clear idea of why you’re starting a company, and whether it’s the best structure for your business. The Financial Service Providers Register (FSPR) defines a NZ-registered entity as any legal entity that is registered with the Companies Office. Use our tips and tools to test your business idea and see if it’s the right decision for you. It’s never too early to think about intellectual property (IP), which includes your company name, logos and trade marks. You've reached New Zealand's online company registration website. How much money do you need to start a business? You can hire staff, but you must be registered as an employer with Inland Revenue. Use our Choose Business Structure tool to check that it’s right for your business’s needs. Becs has 10 years’ experience as a custom metalworker, and is thinking about going out on her own. Shareholders in small companies may also be able to take drawings — loans — from the company. There are 100 shares in issue. Ask yourself these questions to assess your idea and help you decide if you have what it takes to make your new business a success. Your company can offset its business expenses against income to help reduce its tax bill. How to form a company in New Zealand yourself for only $160.22. There’s a lot to get your head around and keep track of with your company’s finances. All registers. Any tax the company pays on the profit can also be attached to the dividend as a credit. Becs logs on to the Choose Business Structure tool to help her make a decision on her business structure. It’s really important to stay on top of your business finances. People often start a business because they want to make a living from certain skills they have. Example company limited: Public: NZBN: New Zealand Business Number: 9429123456789: Public: Status: The status of the entity on a register. “I still haven’t borrowed one cent from the bank and there’s not a lot of businesses like that,” she says. A company doesn’t pay tax on income if it makes a loss, ie if its expenses are more than its income. Your company can claim back many of the costs of doing day-to-day business to help reduce its company tax bill. How much money do you need to start a business? If your company has been removed from the Companies Register, you can apply online to reinstate it. How to file your annual return(external link) — Companies Office, Annual returns(external link) — Companies Office. Our step-by-step guide takes you through some of the things you should do. They administer New Zealand's business registers, including the Companies Register. What do you get when you put a lawyer, accountant, marketer and IT programmer in a room together? There is a small fee, currently NZ$150. Award-winning customer service and small business tools to help build your online business. Our guide shows you how to figure out who might buy your products or services, and who your competitors might be. When you register a company it will automatically get an NZBN (New Zealand Business Number) — a unique identifier that any business in New Zealand can now have. If you don't or if you're another type of business you can do it online at ird.govt.nz (external link). general filing information, eg month the company files its annual return each year. How you can reach us: Phone: 0800 726 727 Fax: 0800 726 728 Post: PO Box 331083, Takapuna, Auckland Email: info@registeracompany.co.nz The tool will also guide you to your next steps. Choosing where to work may come down to your situation and budget. Sole traders, partnerships and trusts. This website has tips, tools and information to help you with every step of being an employer. See if your business name, web domain, trade mark and social media usernames are available — it takes one search. Entities that use this process to register. The New Zealand company register will show you the list of names which have already been taken. Company number: Public: Name: The registered name visible on a public register. First, you’ll need to get a login for the Companies Office website — use your RealMe® login to access the site. Even if you outsource to an accountant or bookkeeper, it helps to understand the types of tax and levies you may have to pay as a business owner. It is presented in a high-quality ring binder/folder, which is specifically designed to keep all necessary company… (external link) - New Zealand Business Number, *RealMe® is a registered trademark of the New Zealand government and New Zealand Post. You can register for GST at the same time you register your company. Think about getting advisors, eg accountants, mentors and lawyers, to help you from an early stage. You must enable JavaScript to submit this form. Using it will speed up your interactions with government, suppliers and customers and other businesses, eg sharing invoicing details. Pay by VISA, MasterCard, Direct Credit or Cheque. “When I started, I had $20,000 in my bank but I would only spend it very wisely. Before you rush in to incorporate your New Zealand company, remember to consider how New Zealand’s (and Australia’s) tax rules will impact on your efforts. Incorporate a company Disclose register Every company must have directors, even if there is only one. If you take on investors or decide to sell the company, you can do this by selling some or all of the shares. You may own the whole company or share ownership with other people who’ve invested in it, ie shareholders. Companies Register. Shareholders pay tax on the company profits at shareholders’ tax rates. New rules to detect and prevent money laundering and the financing of terrorism apply to real estate agents, conveyancers, many lawyers and accountants, and others. The unique number assigned to the entity on a register. A company with staff has obligations to government, eg handling ACC and tax, and to its employees, eg health and safety and legal employment agreements. Getting started wasn’t as easy as it sounds. Business.govt.nz Getting started There’s a lot to think about when you’re starting a business, and it can seem overwhelming – but our tips, tools, visual guides and … It is separate from its shareholder(s) or owner(s) - the person or group of people who own shares in the company). If you’re not confident about looking after your books, think about getting online accounting software and/or a bookkeeper or accountant to help, ideally before you start. It was incorporated on 11 Jun 2007 and has the status: Registered. Creating a business plan will help you focus on the direction you want your business to take, and give it a clear mission and vision. If you are going to be turning over more than $200 per annum, register your company for tax at the same time. What to think about before you start contracting, What you need to know if you have multiple jobs, Grants and help for your established business, Questions to ask yourself before exporting, Trade agreements, exporting rules and barriers to trade, Employer superannuation contribution tax (ESCT), Depreciation: how to spread the cost of your assets, What to do if your business is operating at a loss. All other registers. A company registration may vary between R125 and R475 (R125 for a private company, R475 for a non-profit company registered without members). The most common structures are a company, sole trader or partnership. The registers administered and maintained by the Companies Office contribute to New Zealand’s efficient and transparent business environment. This form will take approximately 5 minutes to complete. I’m still very cautious about spending money.”. The tool provides her with a task list she can follow, along with an outline of some of the costs she can expect to pay to set up her company. Register A Company Uk Limited was incorporated on 21 April 2008 (Monday) and as of 27 June 2016 (Monday) is a Registered NZ Limited Company. In some companies, one person or a group, eg members of a family, may own all the shares. Companies can be registered (incorporated) online through this website. In a legal sense, you’re choosing to separate your business from yourself, which comes with new responsibilities, eg how tax is paid and your relationship with government agencies. A company’s legal status means the amount of company debt that shareholders are responsible for is limited to the value of their shares. You don’t have to have a constitution — most don’t — but it may prove useful in the future as your company changes, eg looking for investment by issuing more shares. However, you can’t be an expert in all areas of business, eg planning, growing or finances, as well as your specialist area — and you shouldn’t have to try to be. Applying to the Registrar to restore a company. All the company's shares must be of the same class and provide the same rights and obligations to each owner. All the company's shares can only owned by individuals, trustees or another LTC. Is a company the best structure for your business? Many companies start out with only the owners working in the business. registering your company. You’ll need: a RealMe login an IRD number of the sole trader, partnership or trust you’re registering for an NZBN. If you’re going to advertise your business name, you need to know before registering the name that someone else doesn’t already own the trade mark. Starting a company is a simple process in New Zealand compared to many other countries, but there are legal obligations you must meet and processes to go through. Even if we restore a company to the register, it can't remain registered if: none of the directors of the company live in: New Zealand, or; Australia and are a director of a company incorporated in Australia; the company has only 1 director, and they're bankrupt or banned from being a director. If you don’t file your annual return each year, your company risks being removed from the Companies Register. Company registration and filing Starting a company: detailed information From: Companies House , HM Revenue & Customs, and Intellectual Property Office. REGISTER A COMPANY NZ LIMITED is a NZ Limited Company from Auckland in NEW ZEALAND. You have a great idea for a business. Most common queries are covered there plus there's a great range of useful articles on company obligations, tax, advice & online training. Whether you’re a small business or a contractor, deciding to start a company is a big step. Before you start a new business, it’s really important to research your market and find out what and who you’ll be competing against. Working from home. Registered Inland Revenue Tax Agents (optional). Incorporate a private limited company - register it with Companies House and rules on directors, shares, articles of association and telling HMRC about the company This is known as incorporating a company. What to think about before you start contracting, What you need to know if you have multiple jobs, Grants and help for your established business, Questions to ask yourself before exporting, Trade agreements, exporting rules and barriers to trade, Employer superannuation contribution tax (ESCT), Depreciation: how to spread the cost of your assets, What to do if your business is operating at a loss. Strengthening relationships with customers, How to approach workers about a health and safety issue, Simple steps to protect your intellectual property, Preparing for intellectual property advice, Protecting your intellectual property overseas, Protecting customer and employee information, Assess your management and leadership skills, Improve your management and leadership: Overview, Find the right type of funding for your business, Improving operational efficiency and innovation, Quality matters: understand and improve quality, Knowing your networks: supply and distribution, What governance is and why it’s important, Laying the groundwork for good governance, Governance: Key things to review if you do it yourself, Ministry of Business, Innovation, & Employment, checking the company name you want is available, names and addresses of its directors and shareholders, details of its ultimate holding company, if applicable. If your company is in liquidation This may also include any trading names. But it’s important to think about what suits your working style too. “My approach is that you can’t predict sales,” she says. Company with the "Wow Factor". Step-by-step guide to starting a company(external link) — Companies Office, Questions to ask yourself before you start. Subscriptions. You must tell the Companies Office who your company’s directors are and provide details about them. No matter how many shareholders your company has, you must decide how many shares the company will have. The ultimate holding company is REGISTER A COMPANY HOLDINGS LIMITED. You need to pass a resolution agreeing to apply for removal, but you don't need to provide a copy of the resolution when you apply for removal. IRD registration. But you may need to hire people to help you grow. After careful consideration, and reading through all the information on the Choose Business Structure tool, she decides to set up a company. People start companies for different reasons and at different stages of business. So make sure you understand what it is and why it’s important. But she’s not sure whether to set up as a sole trader or a company. We would like to know more about the people who use our site, and how we can support them. A step-by-step guide to reinstating an NZ company to the register. When it comes to capital, Vicki Ha, owner of Wellington’s House of Dumplings, believes in only spending what she has. Moving into — or relocating to — your own premises. If your company meets certain requirements, eg five or fewer shareholders, you can ask Inland Revenue to become a look-through company. Register a company Learn more about how Common Ledger got started. Losses can be assigned to shareholders to reduce how much tax they must pay, or the look-through company can carry the losses forward into the next financial year. Get a RealMe login(external link) — RealMe, Applying to incorporate your company(external link) — Companies Office, What's an NZBN? 2. Learn more about how House of Dumplings got up and running. Read our tips to decide which will work best for you and your business. If you don’t have a login, you’ll need to create one. An advisor, eg specialist lawyer, can help you do this. Renting a shared workspace. You must keep accurate and complete work records for at least seven years. If you haven’t done this before, you’ll need a RealMe® login to register for a Companies Office account. New Zealand is a fully committed member of the OECD, FATF and World Trade Organization. The limited liability company has proven to be the most popular and successful form of business structure in New Zealand. It can be cheaper to buy an existing business than to set one up from scratch. The Companies Office also looks after other business registers. It’s a good idea to set out these things in a shareholder agreement. There are five types of companies that you can register. Using it will speed up your interactions with government, suppliers and customers and other businesses, eg sharing invoicing details. ... Help with company amalgamations ... Primary Register: Limited Partnerships (New Zealand & Overseas) Published: 14 January 2021. Register online with Inland Revenue. You can file online on the Companies Office website. When you protect IP, eg by creating a trade mark for your company name or brand, you’re safeguarding the time, money and effort you put into a business. Register a company using New Zealand's fastest online company registration website - get your Certificate, IRD & GST numbers instantly. For others, it may be the next step in a journey that started as a one-person, sole trader business, or you may be a contractor who sees the benefits of operating as a registered company. Strengthening relationships with customers, How to approach workers about a health and safety issue, Simple steps to protect your intellectual property, Preparing for intellectual property advice, Protecting your intellectual property overseas, Protecting customer and employee information, Assess your management and leadership skills, Improve your management and leadership: Overview, Find the right type of funding for your business, Improving operational efficiency and innovation, Quality matters: understand and improve quality, Knowing your networks: supply and distribution, What governance is and why it’s important, Laying the groundwork for good governance, Governance: Key things to review if you do it yourself, Ministry of Business, Innovation, & Employment. A company constitution sets out the rights, powers and duties of the company, its board, each director and shareholders. There’s a lot to think about when you’re starting a business, and it can seem overwhelming – but our tips, tools, visual guides and case studies will point you in the right direction. You must register your company with the Companies Office. Quick-focus planning for growing businesses, Get support from people who can drive your business forward, Use our Compliance Matters tool to find out, Insights and articles on the latest business topics, Use the Employee Cost Calculator to estimate costs, Guide to keeping people healthy and safe at work, Tips on keeping track of employee performance, Tailored to your business and everyone you employ. Use our ONECheck tool to look up business names, web domains, trade marks and social media usernames. If you intend to register for GST you must also apply for a company IRD number (IRD registration). Look-through companies must file a tax return (IR7) every year. Managing an overseas company in New Zealand 11 guides Before they can carry out some business activities, companies incorporated in other countries, including Australia, must register with the Companies Office and then keep their company details up to date. They go to the bank to borrow $40–50k based on their own predictions. Questions to ask yourself before you start, How to research your market and competitors, Common business milestones – and how we can help. You will be required to enter several pieces of information to apply for a company IRD number. An annual return is not a tax return or a financial statement. Is closing your business the right choice? Frank from Manukau Your company has displayed the highest standard of professionalism I have seen in a long time. The residence of the company, not its shareholders, determines a company's residence. These include: Personal property securities; She takes the time to work out what her likely start-up costs will be, including premises, equipment, and compliance costs. Is closing your business the right choice? How to research your market and competitors, Common business milestones – and how we can help. Just three quick questions and you're on your way to choosing a business structure. There is a small fee, currently NZ$150. GST registration. It pays to think about the costs before you set up a business. Use this tool to help you make the best choice when it comes to structuring your business. It must be a New Zealand tax resident company. If you want to start a company or you’ve already done it but aren’t sure what else is involved, here’s where you can find tips and information to help. And provide the same time from scratch shares the company profits at shareholders ’ tax.. High-Quality ring binder/folder, which is specifically designed to keep all necessary company… IRD ). 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To create one meets certain requirements, eg sharing invoicing details the things should. Decide to sell the company, you ’ ll need to register a. So make sure you work on the profit can also be able to take drawings — loans — the!