New Zealand
For good reason, New Zealand has earned a reputation as one of the most business-friendly countries in the world. From the strong entrepreneurial spirit to incentives for foreign investments, the country ticks practically every box for growing businesses. If New Zealand is on your shortlist, we can help you make a swift entry.
At a Glance
No local bank account needed.
Yes, local representation is required.
The standard payroll frequency is WEEKLY, BI-MONTHLY, MONTHLY.
No, local registration isn’t required.
The employer taxes are 3% of gross salary if a KiwiSaver member.
Good to Know
New Zealand ranks as the easiest place to do business (IFC World Bank ranking). Other notable stats: it ranks first on the Corruption Perception Index, third on the Index of Economic Freedom, and 13th on the Human Development Index.
New Zealand has a stable democratic political system with strong legal and judicial institutions, a resilient economy, and an abundance of natural resources. Along with a free-floating currency and few limitations on where and how overseas parties can invest, it’s a very business-friendly country.
New Zealand has the 20th highest GDP per capita in the world, placing in the top 11% of all countries.
*It is not required to open a local bank account to do business in New Zealand but it is recommended for making local payments to suppliers, employees and Inland Revenue Department for taxes.
Don’t Wait! Get Connected Today
Annual Leave Twist
Although paying employees is straightforward, there is an unusual twist with regard to annual leave. Each time leave is taken, two calculations must be completed and the highest rate between the two will be paid. The calculations, if not considered correctly, can easily lead to payroll non-compliance.
Director Residency Demands
First the good news: Company establishment costs are small, there is no restriction on the size of a company’s share capital, and no residency restrictions on shareholders. However, there are minimum director residency requirements that companies need to pay close attention to.
Strict Health & Safety Laws
New Zealand has a comprehensive health and safety regime that applies to businesses. This includes requirements to provide and maintain a safe working environment. The regulator can prosecute an offending business and its officers, and impose significant penalties, including fines and imprisonment.
Next Steps
You don’t know what you don’t know — and that’s where our local expertise comes in. Our expert-led managed services and technical consulting are designed to help you thrive in New Zealand and throughout the world, regardless of regulatory complexity.
We back up our expertise with GateWay, our pioneering global expansion management system (GXM) that empowers you to effortlessly and compliantly manage your international footprint. This platform is your one-stop-shop for global growth.
“While local vendors tend to primarily care about their sliver of the business, HSP Group is, as the single provider, fully invested in the success of the entire organization.”
Head of Finance and Operations at a fast-growing FinTech