New Zea

 FINANCIAL SERVICES PROVIDER: NEW ZEALAND FSP 
 OFFER BANK-LIKE PRODUCTS FROM A FIRST WORLD COUNTRY 
Western standards and fully regulated, democratic environment. Get your own FSP (Financial Services Provider License) from New Zealand. Legally and with the full support of IFLS' lawyers in Auckland. Benefit of New Zealand's fantastic options of a deregulated financial market in a modern country.

Following the protocols formalized by the Financial Service Providers  Act of 2008, New Zealand legislation enables the registration of NZ companies as Financial Service Providers (FSP).

A New Zealand FSP can also commonly known as a New Zealand Offshore Finance Company but that that term is usually applied to an unregistered NZ Company - that is a company that has not registered as an FSP.


Advantages
 

  1. A New Zealand financial service company can offer banking and other financial services to both private individuals and corporations worldwide, with no limitations on the number of customers, amounts on deposit or number of currencies.

  2. The company is not subject to capital reserve requirements and there are no minimum capitalization requirements

  3. There are no restrictions on public solicitations and web sites being open to the general public.

  4. Directors and shareholders can be of any nationality and reside anywhere.

Our complete package contains

  • Formation of the Financial Services Company as a Limited company.

  • 3 full sets of certified documents for your records (needed for bank account openings you want to do)

  • Local Resident Agent Service

  • Dispute Resolution Scheme Membership Initiation (required if providing retail financial services)

  • Financial Services Provider Registration with the NZ govenment's Financial Services Provider Regsitry and the NZ Financial Markets Authority (FMA)

  • Source and set-up local office in Auckland (typical monthly costs of about 1.000 - 1.200 US$)

  • Source professional local director with excellent standing and reputation (1.200 - 1.500 US$ / month). Required on all NZ companies as of May 1 2015 new legislation and not just on FSP's.

  • AML Manual Preparation

  • Account opening facilities options with banks in NZ or Eastern Europe as well as electronic payment services providrs in UK or NZ

  • SWIFT BIC1 registration

  • Optional: Software Package to enable clients online banking, transfer options, CC processing and much more

LIST OF PERMITTED ACTIVITIES
 

  • Deposit taking & lending

  • Debit and credit card services

  • Issuing of financial guarantees and instruments

  • Cash management services

  • Current accounts

  • Cheque (Checking) accounts

  • Savings accounts

  • Term deposits

  • Wire transfer services

  • Payment processing services

  • Fund management

  • Marketing of investments

THINGS YOU MUST KNOW

 

  • New Zealand Financial Service Companies can operate in a similar way to fully licensed banks, but the word “bank” or any of its derivatives or translations cannot be included in the name.

  • To be formally registered as an FSP in New Zealand, a local office and senior manager (ideally appointed as a director) is required to run it and represent the company in NZ. This does add some overhead to an operation that is only just beginning, but it is perfectly legal to start operations and then register the FSP once the business can justify it.

  • You need a DISPUTE RESOLUTION SCHEME MEMBERSHIP if you want to provide retail financing services

PROCEDURE

 

The formation process takes two to three weeks, once originals of all documents needed have arrived in New Zealand. The Dispute Resolution Scheme registration is done first which is an requirement of you want to accept individual clients and offer "retail" financial services.

 

The FSP registration process will take another one or two weeks on top! After this your NZ Financial Service Provider Company is ready to work and you can serve your clients worldwide.

SOFTWARE

If required, we can provide you a full working software to manage accounts, payments, transactions, currency exchange and open accounts, sub accounts, creating account groups etc. Each client will get (if you allow) an SSL secured online banking access and can manage his own account (depending of the rights you are allowing to your users). We can give you a demo of this full software package up front. Banking License also deliver an access to a pre-installed payment provider that is connected to the software. So all correspondence bank issues are solved automatically.

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ATTENTION / WARNING:

Due to fundamental changes in the regulations and on-going discussions about the proceedings, BL Corporate Services Ltd cannot recommend the setup of NZ FSP licenses anymore. We are committed to our customers and cannot guarantee the positive outcome of applications and their licensing anymore. Interested customers should be informed that already permitted licenses are currently reviewed and will be most likely revoked if UBOs are residing outside NZ, the core target market is not NZ or any of the other new requirements are not fulfilled. Please be aware and decide to go with another jurisdiction.

 
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