Your company can offset its business expenses against income to help reduce its tax bill. A company constitution sets out the rights, powers and duties of the company, its board, each director and shareholders. You have a great idea for a business. They administer New Zealand's business registers, including the Companies Register. Many companies start out with only the owners working in the business. New Zealand, including their addresses, directors and shareholders; other countries, but which are registered on the Overseas Register to do business in New Zealand. An annual return is not a tax return or a financial statement. Your company’s profits — what’s left of your income after expenses — are taxed at the company tax rate of 28%. Use our Choose Business Structure tool to check that it’s right for your business’s needs. You can hire staff, but you must be registered as an employer with Inland Revenue. If they do work for the company they can also take a shareholder-employee salary, on which they’ll need to pay their own tax. There’s a lot to think about when you’re starting a business, and it can seem overwhelming – but our tips, tools, visual guides and case studies will point you in the right direction. Shareholders in small companies may also be able to take drawings — loans — from the company. There are five types of companies that you can register. Some businesses start hiring employees right from the beginning, while others take some time before bringing people on board. You’ll also need to find a formal structure for your business. With one search you can see its availability as a business name, trade mark, web domain, and social media username. GST registration. Incorporate a private limited company - register it with Companies House and rules on directors, shares, articles of association and telling HMRC about the company It’s to comply with new anti-money laundering rules. Strengthening relationships with customers, How to approach workers about a health and safety issue, Simple steps to protect your intellectual property, Preparing for intellectual property advice, Protecting your intellectual property overseas, Protecting customer and employee information, Assess your management and leadership skills, Improve your management and leadership: Overview, Find the right type of funding for your business, Improving operational efficiency and innovation, Quality matters: understand and improve quality, Knowing your networks: supply and distribution, What governance is and why it’s important, Laying the groundwork for good governance, Governance: Key things to review if you do it yourself, Ministry of Business, Innovation, & Employment. Working from home. The limited liability company has proven to be the most popular and successful form of business structure in New Zealand. It is presented in a high-quality ring binder/folder, which is specifically designed to keep all necessary company… How you can reach us: Phone: 0800 726 727 Fax: 0800 726 728 Post: PO Box 331083, Takapuna, Auckland Email: email@example.com Profits can also be distributed to shareholders as dividends, who are taxed individually on their personal income. Our guide gives you the complete picture of what's involved in starting up, from testing your idea to registering a trade mark. There are pros and cons to each of these options. Managing an overseas company in New Zealand 11 guides Before they can carry out some business activities, companies incorporated in other countries, including Australia, must register with the Companies Office and then keep their company details up to date. registering your company. 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