INCREASED SCRUTINY ON REDUNDANCY DECISIONS
June 15, 2015
UNFAIR CONTRACTS
July 13, 2015

NEW RESIDENCY REQUIREMENTS FOR DIRECTORS OF NEW ZEALAND COMPANIES

From 1 May 2015, all new New Zealand companies have to provide the dates and places of birth for all directors.

At least one director must either live in New Zealand or in Australia. In the case of a director who lives in Australia, that director must also be a director of a company incorporated in Australia.

There is also a requirement to specify whether the company has an ultimate holding company.

When any new director is added to the company, that director’s place and date of birth will need to be provided and the relevant information for existing directors will need to be updated when the next company annual return is filed after 1 July 2005.

The date and place of birth of the directors will not be publicly available on the Companies Register.

Companies which do not provide the relevant information will ultimately be given a notice to be removed from the Companies Register.

The same obligations have already been in place for limited partnerships since February 2015 with the residency requirements relating to the General Partners of the partnership.