img
img
  Corpag Group Logo
NEXUS TRUST (NEW ZEALAND) LIMITED

Office: Level 5, 68 Shortland Street, Auckland 1010, New Zealand
Postal: PO Box 1789, Auckland 1140, New Zealand
Email: newzealand@corpag.com , Tel: +64 9 401 7315, Fax: +64 9 401 7317

spacer
 
navigation
 
Heading  
PRODUCTS AND SERVICES

Nexus New Zealand specialises in the provision of trust, corporate and limited partnership services to New Zealand non-residents.

Those services include:

• the establishment and administration of New Zealand foreign trusts; and
• the incorporation and administration of New Zealand trustee companies; and
• the establishment and administration of limited partnerships.


THE NEW ZEALAND FOREIGN TRUST

A New Zealand foreign trust is a trust where the trustee is a New Zealand resident and none of the settlors have been resident in New Zealand since the later of:

• 17 December 1987; and
• the date the trust was first settled.

New Zealand foreign trusts, trustees of foreign trusts and non-resident beneficiaries are not subject to tax in New Zealand on foreign sourced income or distributions of foreign sourced income.

Obviously there are many jurisdictions that provide zero or low tax environments for trusts. However the New Zealand foreign trust has many advantages over trusts established in the traditional offshore jurisdictions.

Those advantages include:

New Zealand is a reputable OECD member country that has never been, and is never likely to be, on any taxation or money laundering “black list”;

New Zealand is a mature financial centre with sophisticated banking, legal, accounting and technological infrastructure;

New Zealand has a tax treaty network that may, depending on the particular treaty, provide tax-planning opportunities for the foreign trust and its beneficiaries;

New Zealand has a modern trust law with statutory facilities for both Advisory and Custodian Trustees. Amongst other things these facilities enable trusts to be structured with a greater degree of input from parties associated with the trust whilst reducing the risk of the “sham” attacks that have been mounted on trust structures in many other jurisdictions;

there is no requirement that the trust be governed by New Zealand law. This can provide enhanced structuring flexibility;
 
trust documents need not be filed. All that is required is the filing of a notice including the name and date of the trust, the name and contact details of the New Zealand trustee and, in the case of a qualifying New Zealand resident trustee, details of how the trustee claims to be a qualifying trustee;

whilst modern OECD style record keeping is required of the New Zealand trustee, there is no annual audit or annual tax-filing requirement for the trust; and

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.

  (Where a trust has an Australian settlor the filing and disclosure rules are different to those set out above.)


Nexus New Zealand’s services include acting as a New Zealand resident trustee of foreign trusts. This includes liaising with client advisors in connection with the structuring, documentation and establishment of trusts and carrying out the ongoing administration of those trusts.

NEW ZEALAND TRUSTEE COMPANIES

Nexus New Zealand can incorporate and administer in New Zealand a private trustee company (“PTC”) for clients who do not wish to have Nexus New Zealand act as trustee. A PTC is usually trustee of only one trust but can act as trustee of an unlimited number of trusts. There are no licensing requirements. Our services include liaising with client advisors in connection with the structuring, documentation and establishment of the PTC and the trusts of which it is trustee as well as carrying out the ongoing administration of the company and trusts as may be required. Further information is contained in our PTC guideline that is available on request.

For professional clients Nexus New Zealand can also incorporate and administer in New Zealand a managed trustee company (“MTC”). An MTC is an inexpensive and easily administered vehicle that professionals can use to provide trustee services to their end user clients. The MTC may charge trustee fees and act as trustee of an unlimited number of trusts. There are no licensing requirements. Our services include liaising with professional trustee companies and their advisors in connection with the structuring, documentation and establishment of the MTC and the trusts of which it is trustee as well as carrying out the ongoing administration of the company and trusts as may be required. Further information is contained in our MTC guideline that is available on request.

NEW ZEALAND LIMITED PARTNERSHIPS

New Zealand's Limited Partnerships Act 2008 establishes a convenient and flexible partnership structure similar to the model common in many other jurisdictions.

A New Zealand Limited Partnership can be used as the underlying asset holding vehicle for a New Zealand foreign trust. Having both the trustee and the asset holding vehicle established in the same jurisdiction simplifies administration of the structure, reduces legal complexities and extends to the underlying entity the benefits of New Zealand as a reputable jurisdiction.

Our services include liaising with advisors in connection with the structuring, documentation and establishment of New Zealand Limited Partnerships as well as carrying out the ongoing administration as may be required.

DUE DILIGENCE

Nexus New Zealand requires all its clients to comply with all New Zealand laws including those relating to the prevention and detection of money laundering and financing of terrorism.

The centre-piece legislation is the Anti-Money Laundering and Countering Financing of Terrorism Act 2009 (“AML/CFT”). The AML/CFT is designed to detect and deter money laundering and the financing of terrorism. The legislation also links into the Criminal Proceeds (Recovery) Act 2009 and the Mutual Assistance in Criminal Matters Act 1992 which provides the basis upon which New Zealand can provide international assistance to combat criminal activity.

The AML/CFT imposes record keeping requirements and an obligation to report suspicious transactions to the relevant authorities in New Zealand. In order to meet those obligations Nexus New Zealand has comprehensive “Know Your Client procedures in relation to both its clients and their activities.

FEES

Details of fees can be obtained on application.

 

  line
Corpag Group
line