It is now easier for overseas businesses to operate in New Zealand. New financial reporting standards simplify audit requirements for overseas companies.
Currently if New Zealand business is owned by the Overseas Shareholders (company incorporated outside of New Zealand) the financial statements of the company must be prepared, audited and filed with the NZ Companies office. The auditing of financial statements does add financial burden especially on a small business, and this could be up to $8,000. The law itself had been quite stringent on all overseas investors so regardless of size of the business all financial statements must be audited with the exception of non-active status of the business.
However, from 01-04-2014 these requirements have been changed, and the new requirements making it simple for Overseas Companies to operate in New Zealand. For example, A New Zealand business which is owned by overseas shareholders will benefit from this exemption. The benefit would be mainly for businesses small in size i.e. less than $10 million in revenue or $20 million in assets.