We are seeing an increase in popularity with the use of New Zealand foreign trusts being set up by nonresidents of New Zealand. The principal benefits of using such a structure are:
• An aid to asset protection and succession planning.
• Flexibility.
• The confidential nature of a trust.
• The fact that New Zealand is a stable, onshore, whitelisted jurisdiction and is not regarded as a tax haven.
• The limited reporting requirements and compliance obligations.
• No tax being payable to the New Zealand Inland Revenue Department on foreign earned income. More…
Foreign Trusts in New Zealand
By Burton & Company on December 14th, 2012
