The place of incorporation and country where a company’s directorial control is centred may have important implications for the tax residence of the company. Since May 2015, any newly incorporated company must satisfy a new director requirement that at least one of its directors must either live in New Zealand, or live in an ‘enforcement country’ and be a director of a company registered in that country.
This article covers the rationale for the new requirement and other changes regarding the accountability of New Zealand companies.
Existing companies have until 28 October 2015 to comply with the new director requirement.
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This article originally appeared in the July/August 2015 edition of the International Tax Review.