NEW DEVELOPMENTS IN NEW ZEALAND. IN FIDUCIARY SERVICES GROUP
Monday, 12 December 2016
IN FIDUCIARY SERVICES GROUP are design, create, and manage structures to:
- organise clients’ lives
- business
- Investments
- legally protect them against
- claims of third parties
=maximise earnings and growth
Legal entities in structures:
- Sole traders
- Partnerships and joint ventures
- Limited partnerships
- Companies (Limited, LLC, Inc)
- Public companies
- Foundations
Most popular structures:
- New Zealand foreign trusts
- Dutch Foundations
- Labuan companies with special trusts
- Singapore trading companies
NEW ZEALAND
In New Zealand since 1994.
Interesting jurisdiction since New Zealand does not tax trusts that have their assets outside New Zealand provided the settlor is not a New Zealand tax payer.
Such trusts are called New Zealand foreign trusts and we have done hundreds of them since we entered this business.
New Zealand domestic trusts pay income tax at a corporate rate (now 28%).
New Zealand has now proposed to require the following for NZ foreign trusts:
- Disclosure of settlor and beneficiaries
- Disclosure of payments to beneficiaries
- Annual lodgment of trust accounts
These registers are not open to the public but may be subject to AEOI.
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