Offshore Tax Havens Are Under Attack - But What About New Zealand?

Offshore Tax Havens Are Under Attack - But What About New Zealand?

Friday, 29 November 2013 08:00 Australian Business Press Releases - Corporate News

WILMINGTON, DE, November 29, 2013 /24-7PressRelease/ -- New Zealand is generally perceived as a high tax country and consequently has not been a target in the international campaign against offshore tax havens. But as Magnusson reveals in "The Land Without A Banking Law", New Zealand offers secretive zero tax structures for offshore activities. Perhaps even more remarkable, the legal framework allows for virtually anyone to start an offshore bank without being subject to any capital or qualification requirements.

In his latest book, Magnusson describes New Zealand offshore finance companies as banks, both in a legal and practical sense, but not registered banks under the supervision of the Reserve Bank of New Zealand.

"While there are laws in New Zealand regulating financial activities, there are no regulatory entry barriers as such for the business of banking when services are offered to non-residents only (offshore)", says Magnusson.

In "The Land without a Banking Law," readers will learn how to form and register a New Zealand company online, and how to obtain registration as a bona fide Financial Service Provider (FSP). In addition, the regulatory framework and upcoming changes to the relevant legislation are explained.

Visit www.startabank.net for further details and ordering information.

The Land without a Banking Law - How to Start a Bank with a Thousand Dollars Publisher: Opus Operis LLP - United Kingdom Author: Michael Magnusson - Panama - Sweden - Netherlands Paperback: 236 pages ISBN-13: 978-0957543812 ISBN-10: 0957543816BISAC: Law / Banking

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