New Zealand registered companies that continue to be directed beyond 28 October 2015 by a single individual who resides outside Australasia – will be removed from the register of companies by the Registrar of Companies, under changes being introduced by the Companies Amendment Act 2014 and the Limited Partnerships Amendment Act 2014. Under this legislation ……
By 28 October 2015 ….
All New Zealand companies will have to have at least one director who either lives in New Zealand; or lives in Australia and is a director of a company incorporated in Australia by 28 October 2015.
When filing annual returns after 28 October 2015 New Zealand companies will need to indicate whether any director living in Australia is also a director of a company incorporated in Australia. They will also need to provide details of one of those Australian companies (ACN, name and registered office address).
All sole directors of any NZ company who reside outside Australia will have to get busy and before 28 October 2015 appoint at least one suitable director who actually resides in New Zealand, if the company is to comply with the new law. This may prove a demanding task in the case of for example, a sole director who resides in the United States and who currently directs a significant number of NZ companies on his/her own.
See informative case study link PDF below.
Also see reference:
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