Now the days when the jurisdictions of offshore issued bank licenses with few requirements are gone. These jurisdictions now follow strict procedures, experience needs, better capitalization and a physical office along with few local employees to gain a license. But, still, there are some of the businesses like forex trading, brokerage and others that don’t require a physical office.
You can go through some of the quick steps and procedures for incorporating fsp Company. These methods include online registration of an FSP company. This whole process involves and takes into consideration as what kind of the FSP you are, are you an entity registered with companies office or an individual.
Major Factors to consider
- There are many things that should be considered while deciding on FSP company setup.
- The registrars and authority here require the company that they should have a physical office in New Zealand and from there the financial services should be provided.
- The FMA or registrar can visit the same business address and can make all the inquiries they want for the company’s management or employees if in case any complaint is received.
Few requirements for registering as a legal entity in New Zealand
For registration requirement enforcement under FSP ACT, the FSPR can consider as where the business is getting transacted from and by whom it’s getting done. This FSPR does not allow this mere incorporation in New Zealand. On the other hand, for fsp company registration, every international client need to fulfill below-mentioned requirements as,
For registering as a legal entity in New Zealand,
- You need to have your own physical place and management team in New Zealand from where your company will offer all financial services.
- It needs to apply for the membership in a scheme called dispute resolution which is already approved by the government
- The registration with FSPR is a must for all those financial services or activities that you want to carry out.
- Maintenance of corporate and financial records in New Zealand is must and you should comply with the accounting, bookkeeping, audit and all other legal needs.
- You must have a local office manager which should be available physically for the regulator's inspection
- As per new legislation, they must file the countering finance and anti-money laundering act of 2009 report and go for the risk assessment or AML program from its FSPR registration date.
- Must have a Company director from New Zealand only and he/she should be a local resident
While setting up the FSP Company, the company must fill and sign its application form and they must mention the whole list of their board of directors, senior persons, shareholders and other important officers for daily operations.
Hire a professional consultant company
You can also hire an expert company that can guide you in terms of legal consultancy and can serve you around the world. These companies include in-house experts who hold good command over offshore business setup can assist you during the whole journey of FSP company setup and its registration. Contact the professionals today.
