E-money license in New Zealand 

Despite the fact that New Zealand gained independence from the UK jurisdiction, the legislative bodies of the latter had a significant impact on the formation of the legal structure in the kingdom. In view of the above factor, the territory of New Zealand is an offshore zone for many foreign companies in the licensing of various enterprises.

For the most part, the state is engaged in the certification of gambling and financial corporations. Financial license is a generalized concept that includes such sections as investment, brokerage, use and creation of electronic currency.

Obtaining license for electronic money in New Zealand involves a detailed study of the regulations of the country. The counterparty must know everything about the levels of taxation and the scope of the application of interactive money. Law&Trust’s specialists provide free advice to all clients on the paragraphs of legislation of New Zealand and issues of registration of electronic money licenses.

Virtual currency in the country's enterprises can not be created within global network: it is attracted and raised from the funds of corporate clients, and the enterprise can create electronic capital by means of non-cash electronic transaction of material funds when investing them in one of the local banks. At each stage of interaction with financial entities in New Zealand, you will need legal support, which is provided by Law&Trust’s specialists.

The cost of license for electronic money in New Zealand

  1. The first stage in the process of issuing the certificate is the establishment of a company in the country. The cost of the procedure depends on the scope of activities of the enterprise, but more often it is fixed. Details are indicated in the price list. The firm is created in the form of LLC.
  2. Contribution of the authorized capital. The amount that must be transferred to the bank account of one of the local financial entities depends on the counterparty. If the company has a narrow focus of work and is aimed at developing a small number of economic instruments, its capital may be approximately 50-100 thousand dollars.
  3. A range of state duties and fees in the territory of New Zealand is abolished, but annual payment for the use of license is required. The amount of fee is calculated as a percentage of the amount of the authorized capital.

To obtain permission for virtual money in New Zealand, it is necessary to fully comply with the requirements of this jurisdiction. Thus, there must be one resident manager of the country in the directorate of the corporation, and all the other employees from the managerial team are required to pass the verification for professional competency and professional suitability.

Compliance with the positions is determined during the annual audit, but when submitting it is necessary to provide documentary evidence of the qualifications of key employees.

The lawyers of our company provide the maximum assistance in the process of obtaining license for the use of electronic money in New Zealand. The applicant himself is responsible for drafting the business strategy and recruiting the personnel, however, Law&Trust undertakes all other tasks.

You should contact us personally to get full information about the stages of work of our professionals and also to calculate the exact amount of issuance and obtaining license. Acceptance of applications is conducted remotely in a round-the-clock mode. There are such means of communication available as phone, call from the website, email and online chat.

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