New Zealand
Services provided from New Zealand: Trust
New Zealand has a highly reputable business community, enjoying the presence of some of the world's leading banks together with reputable legal and accounting firms. The legal and banking profession is of a high standard and it has well developed communication, commercial and business infrastructure. It enjoys political and economic stability and is an independent British Commonwealth country.
New Zealand is a full member of the Organization for Economic Co-operation and Development (O.E.C.D) and is not perceived as a harmful tax jurisdiction by the O.E.C.D whilst providing many of the advantages of an offshore tax jurisdiction for non-residents. The legal system is based on English common law and its Trust Law is similar to that of other common law jurisdictions.
The regulatory and tax environment makes New Zealand and ideal “offshore” Trust jurisdiction. The non-New Zealand sourced income of a Foreign Trust is exempt from New Zealand taxation, whether that income is accumulated or is distributed to non-New Zealand resident beneficiaries.
Registration of Trust requires that only the name of the Trust and Trustee are registered with the NZ Inland Revenue Department (“IRD”). This is not on public record. There is no requirement for public financial reporting or audit of the Foreign Trust.
New Zealand privacy laws provide significant protection for client and trust information. In the absence of a request from a treaty partner entitled to information the New Zealand revenue authorities are precluded from making disclosure of any information obtained by them.
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