MERITAS - Law Firms Worldwide (JD Supra New Zealand)

...Changes to The Way Foreign Investment is Reviewed In Australia & New Zealand - In this update we highlight changes to the legislation governing foreign direct investment in each country. Australia - On 29 March 2020, the Australian Government announced changes to the way foreign investment in Australia will be reviewed. Two key changes - 1. All monetary screening thresholds in...

Welcome to the 2019 edition of the Meritas Legal Guide for Business Investment and Expansion in New Zealand. New Zealand is a land of opportunity for foreign investors and those wanting to conduct business in the country. Globally successful in a number of key industries, such as resources, agribusiness, financial services, education and tourism, the nation’s diverse economy is expanding and...

The protection of personal information is seen as important in New Zealand with robust privacy laws which are generally observed and enforced. New Zealand privacy laws were traditionally seen as “adequate” under the European Union’s 1995 Data Protection Directive, however with the advent of the GDPR, New Zealand now lags behind the EU. Consequently, New Zealand’s privacy laws are under review...

PERSONAL PROPERTY SECURITIES REGISTER - The Personal Property Securities Act 1999 (PPSA) came into force in New Zealand on 1 May 2002. At the heart of this legislation is the Personal Property Securities Register (PPSR) where security interests over personal property can be registered and search in real time. It is a single online register for all security interests over personal property....

EMPLOYMENT LAWS - TERMS AND CONDITIONS OF EMPLOYMENT - Terms and conditions of work performed by employees in New Zealand are governed by: • Legislation governing employment terms and working conditions, including legislation regulating annual leave and other leave entitlements • Collective agreements • Individual employment agreements • KiwiSaver LEGISLATION - ...

EXCHANGE CONTROL - Currency movements in and out of New Zealand are subject to certain controls. The Anti-Money Laundering and Countering Financing of Terrorism Act 2009 imposes restrictions on transfer of money to detect and deter money laundering and the financing of terrorism. Please see full Chapter below for more information.

ENTRY TO NEW ZEALAND - A visa or permit is not required to visit New Zealand if the visitor is an Australian citizen, British citizen, or a citizen of a country which has a visa waiver agreement with New Zealand (entitles up to a three-month visit). New Zealand has visa waiver agreements with a number of countries. There are various classes of visa. Each class of visa has special...

INTELLECTUAL PROPERTY - There are a variety of laws dealing with the protection of intellectual property in New Zealand. These laws permit the creation of legal rights to the exclusive use or ownership of copyright works, designs, patentable inventions, trade marks and other forms of intellectual property. Some of the principal laws protecting intellectual property are briefly...

TAXATION - It is not possible to give a complete outline of the scope of the taxation system in this guide. A brief outline of the basic taxation principles and some of the major forms of taxation are discussed below. In all cases, we strongly recommend that you obtain professional tax and legal advice before structuring or implementing your investment or business plans in New Zealand.

REGULATION OF FOREIGN INVESTMENT - One of the first matters a foreign company or investor must consider when planning to invest in New Zealand is the impact of New Zealand’s foreign investment policy. REGULATION - Foreign investment in New Zealand is principally governed by the Overseas Investment Act 2005 and is administered by the Overseas Investment Office (OIO). ...

TRADE PRACTICES AND CONSUMER PROTECTION - New Zealand has extensive laws dealing with trade practices and consumer protection matters. TRADE PRACTICES - Competitive business activity in New Zealand is principally regulated by the Commerce Act 1986. The purpose of the Act is to promote competition in markets for the long-term benefit of consumers within New Zealand and covers a...

COMPANY LAW - Some general matters relating to company law in New Zealand are discussed below. REGULATORY SCHEME - The Companies Act principally regulates companies. The Companies Act, together with major pieces of legislation such as the Financial Markets Conduct Act (which replaces, among other legislation, the Securities Act and the Securities Markets Act),...

MAJOR FORMS OF BUSINESS ORGANISATION - A foreign company or investor proposing to establish a business in New Zealand may choose from a number of different entities or forms of business organisation. Each of these forms has its advantages and disadvantages. Business owners will need to carefully consider them to determine which is the most appropriate for their business. The major...

COURT AND LEGAL SYSTEM - The New Zealand legal system is modelled on the English common law system of judge-made (or case) law and statutory law made by the central government. There is a hierarchy of courts, which includes: • Disputes Tribunal (dealing with small claims) • District Court • High Court • Court of Appeal • Supreme Court (which has replaced the...

THE COUNTRY - New Zealand is an island nation in the South Pacific with a population of approximately four million five hundred thousand people from a diverse range of ethnic backgrounds. A significant majority of the population lives in urban areas with almost one-third living in the greater Auckland region. The largest ethnic group is of European descent with English being the major...

When businesses decide to venture across the Tasman to set up a new Australian or New Zealand based office, it is sometimes in the belief that the easiest and best option is to start by engaging contractors. Employers can be forgiven for thinking that this would be preferable to getting to grips with employment law in the neighbouring jurisdiction and much easier than trying to understand...

EMPLOYMENT LAWS - TERMS AND CONDITIONS OF EMPLOYMENT - Terms and conditions of work performed by employees in New Zealand are governed by: • Legislation governing employment terms and working conditions, including legislation regulating annual leave and other leave entitlements • Collective agreements • Individual employment agreements • KiwiSaver LEGISLATION -

EXCHANGE CONTROL - Currency movements in and out of New Zealand are subject to certain controls. The Anti-Money Laundering and Countering Financing of Terrorism Act 2009 imposes restrictions on transfer of money to detect and deter money laundering and the financing of terrorism. A cash transaction involving the transfer of currency (whether New Zealand or foreign that is in the...

ENTRY TO NEW ZEALAND - A visa or permit is not required to visit New Zealand if the visitor is an Australian citizen, British citizen, or a citizen of a country which has a visa waiver agreement with New Zealand (entitles up to a three-month visit). New Zealand has visa waiver agreements with 56 countries. There are various classes of visa. Each class of visa has special conditions...

TRADE PRACTICES AND CONSUMER PROTECTION - New Zealand has extensive laws dealing with trade practices and consumer protection matters. TRADE PRACTICES - Competitive business activity in New Zealand is principally regulated by the Commerce Act 1986. The purpose of the Act is to promote competition in markets for the long-term benefit of consumers within New Zealand and covers

INTELLECTUAL PROPERTY - There are a variety of laws dealing with the protection of intellectual property in New Zealand. These laws permit the creation of legal rights to the exclusive use or ownership of copyright works, designs, patentable inventions, trade marks and other forms of intellectual property. Some of the principal laws protecting intellectual property are briefly discussed...

TAXATION - It is not possible to give a complete outline of the scope of the taxation system in this guide. A brief outline of the basic taxation principles and some of the major forms of taxation are discussed below. In all cases, we strongly recommend that you obtain professional tax and legal advice before structuring or implementing your investment or business plans in New...

COMPANY LAW - Some general matters relating to company law in New Zealand are discussed below. REGULATORY SCHEME - The Companies Act principally regulates companies. The Companies Act, together with major pieces of legislation such as the Financial Markets Conduct Act (which replaces the Securities Act and the Securities Markets Act), Takeovers Act (and Takeovers Code) and...

REGULATION OF FOREIGN INVESTMENT - One of the first matters a foreign company or investor must consider when planning to invest in New Zealand is the impact of New Zealand’s foreign investment policy. REGULATION - Foreign investment in New Zealand is principally governed by the Overseas Investment Act 2005 and is administered by the Overseas Investment Office (OIO). ...

A foreign company or investor proposing to establish a business in New Zealand may choose from a number of different entities or forms of business organisation. Each of these forms has its advantages and disadvantages. Business owners will need to carefully consider them to determine which is the most appropriate for their business. The major forms of business organisation available to a...

THE COUNTRY - New Zealand is an island nation in the South Pacific with a population of approximately four million five hundred thousand people from a diverse range of ethnic backgrounds. A significant majority of the population lives in urban areas with almost one-third living in the greater Auckland region. The largest ethnic group is of European descent with English being the major...