Incorporation of Offshore Companies
Jurisdiction: New Zealand Limited Liability Partnerships
The regime grants New Zealand a flexible criteria and a commercial structure internationally known. Further, the structure transparent for tax purposes, feature of a limited company, makes it a vehicle useful specially when some (or all) of the participants are not residents.
Each limited liability partnership must have a written contract or corporate agreement including certain key matters provided by Law. The limited liability partnership must have a corporate domicile in New Zealand and an address for official notification purposes, also in said country. All limited liability partnerships must include the letters “L.P.” or “LP” (“Limited Partnership”) at the end of the name.
Any person (either natural or juridical, or any territorial limited liability partnership) may become a general partner (“GP”) or a limited partner (“LP”) of a limited liability partnership. Neither the general partner nor the limited partner is obliged to be New Zealand’s residents. Further, there is no restriction as to the number of general or limited partners. The partners in a New Zealand limited liability partnership are taxed individually and proportional to their participation in the company.
New Zealand will not tax income arising abroad from partners nor residents in a New Zealand limited liability partnership.
It is always recommended for clients to seek tax advice in their local jurisdiction before incorporating a limited liability partnership.
Other Jurisdictions: