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New Zealand Financial Services Provider

Discussion in 'Businesses' started by Offshore, Feb 25, 2011.

  1. Offshore

    Offshore Registered

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    Financial Service Provider (FSP) in New Zealand. An FSP can legally engage in activities and offer services such as:

    * Deposit Taking, like a Bank

    * Keeping, investing and managing money, securities and investment portfolios on behalf of third parties.

    New Zealand repealed its entire Banking Act in 1995 and thereby facilitated free entry in to the business of banking. There are several laws regulating a financial business, but New Zealand is unique in the sense that an international banking entity can be established without capital requirements.

    Meaning: If you offer financial services using a New Zealand based Company and all your clients are based outside New Zealand, your Company will still operate outside the gegraphical scope of Part II of the Securities Act 1978 and it will not be subject to regulation by the Reserve Bank as a non-bank deposit taker.
     
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  3. bulastika

    bulastika Registered

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    Just one question. How about electronic cash? I mean can I open a bank account via online? Or do I need to personally go in new zealand before I can open a bank account. When I want to trade stocks in the U.S. I realize I can't open an account unless I went their. Its seems online banking is not that open yet.
     
  4. prestonzac

    prestonzac Registered

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    The financial services sector encompasses all aspects of the financial
    industry, including bank products, mortgage loans, commercial banking,
    investments and support services.
     
  5. gfexc

    gfexc Registered

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    As of Feb 2013, all FSPs must have a NZ address with NZ operators actually conducting business in NZ to avoid past abuses. Inspections are being conducted for compliance. Those who cant are being de registered automatically.
     
    Last edited by a moderator: Apr 17, 2013
  6. Umar

    Umar Registered

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    Portfolio:
    investinsamarkand.uz
     
  7. Serhii Zalievskyi

    Serhii Zalievskyi Registered

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    Great, i like it.
     
  8. Serhii Zalievskyi

    Serhii Zalievskyi Registered

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