Our team can help you set up a forex company in New Zealand by ensuring that you follow both the company incorporation laws and the industry-specific requirements.
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How do you set up a forex and brokerage company in New Zealand?
Those who open a forex company in New Zealand follow the same steps for company setup as in the case of any other company.
The most commonly used business form for a forex and brokerage company in New Zealand is the limited liability company.
The steps required to set up a forex company in New Zealand as an LLC are the following:
- Reserve the company name;
- Determine the shareholders and directors and prepare their identification documents;
- Submit the company’s constitutive documents;
- File for registration and wait the confirmation;
- Register for tax and GST purposes.
There is no minimum capital requirement for the limited liability company; however, this does not mean that there are no costs for those who open a company in New Zealand. Our team can give you more details upon request.
Can you help me open a forex brokerage company?
Yes, our team can assist throughout the company creation stages, starting with helping you choose a suitable type of company and ending with the application to obtain a forex license in New Zealand.
We can help you with:
- Reserving the company name;
- Drawing up the company’s constitution;
- Registering the shares and shareholders;
- Opening the bank account for the company;
- Submitting the online application for company registration by making sure that all the required documents are included;
- Registering for tax and GST purposes, as this will be mandatory for the future taxation of the forex and brokerage company in New Zealand;
- Registering as an employer in New Zealand is a mandatory step for the company that will then hire licensed forex brokers.
As part of our tailored package for those who set up a forex company, we will provide pre- and post-registration guidance, with a special focus on the licensing phase.
We can also give you details about the conditions for appointing company directors in New Zealand, more specifically, the residency requirements.
Who has to obtain a forex license in New Zealand?
In New Zealand, foreign exchange trading, which is commonly referred to as forex, is subject to licensing and control.
Individuals and businesses that offer forex brokerage services must hold a valid derivatives issuer license, which is granted by the Financial Markets Authority (FMA).
Can you help me obtain a forex license in New Zealand?
Yes. Our team can assist those interested in licensing and registration as forex brokers with the FMA.
The application for the derivatives issuer’s license is subject to specific conditions, as defined by the Financial Markets Conduct Act, and as decided by the FMA.
We can assist you with making a successful application by taking into account the following:
- Focus on meeting the minimum standards – these are always evaluated by the FMA, as the applicant company is evaluated against them;
- Submit a full set of documents, as requested by the authorities;
- Follow the licensing guides – these can be detailed by our team upon request;
- Pay the basic licensing fee and follow through with the payment of any other additional fee as requested by the FMA.
All derivatives issuers, such as those that will provide services related to forex brokerage, are required to maintain their license at all times.
No individual or company in New Zealand can make a regulated offer of derivatives before holding a license.
Are there specific conditions for the forex brokerage license?
Yes. A forex brokerage license is subject to mandatory and quite specific conditions, such as:
- Proven competence;
- Adequate compliance;
- Meet the fit and proper criteria for personnel.
If you want to set up a forex company in New Zealand, you can contact our experts in company formation in New Zealand.