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Unlike New Zealand FSPs, OFCs are not required to register as a financial services provider and are not required to undergo inspections by the Ministry of Economic Development. In such way, OFCs are no regulated.

VIPconsultant. is specialized in setting up New Zealand Financial Service Provider Companies (FSP company) with Registration and Dispute Resolution.

Under the Financial Service Providers (Registration and Dispute Resolution) Act 2008 (FSPA), financial service providers must be registered on the Financial Service Providers Register (FSPR) in order to legally conduct a financial services business.

By law in New Zealand are considered a Financial Service Provider to all those business which perform the following activities:

The entities which do not offer services to residents of New Zealand are not considered Deposit Takers under the Reserve Bank regulations.

The Reserve Bank is the supervisory authority for Registered Banks in New Zealand. Only a Registered Bank can use the words Bank, Banker or Banking in its registered Company name or title (Section 64 of the Reserve Bank of New Zealand Act 1989).

FSP companies can have directors / shareholders / managers / owners of any nationality residing anywhere. The only requirement is that they can not have criminal records or have been declared in bankruptcy within New Zealand.

Vipconsultant offers a complete turn-key service to start your NZ FSP. This includes organizing your New Zealand offshore financial company, forming a holding company, providing online banking software, debit cards, wire management tools and most important local presence requirement in order that your FSP is not deregistered.

If you have more questions about New Zealand FSP comapny please contact us.