Business
Companies Act 1993 with same-day online incorporation
One of the fastest incorporation regimes in the world: a company can be registered online in a day under the Companies Act 1993, with no minimum capital and a single director permitted.
Key rules
- Deadline — Annual return filed in the company's allocated filing month each year
- Deadline — Changes of director or registered office notified to the Companies Office within 20 working days
Governing law
- Companies Act 1993 (s. 131)
- Financial Markets Conduct Act 2013
- Fair Trading Act 1986
- Personal Property Securities Act 1999
In practice
Incorporation requires at least one share, one shareholder and one director, and at least one director must live in New Zealand or in Australia and be a director of an Australian company. There is no minimum capital and no requirement for a constitution — the Act supplies default rules. Directors' duties are codified: s. 131 requires acting in the best interests of the company, and ss. 135-136 prohibit reckless trading and incurring obligations without reasonable grounds for believing they can be met. Security interests over personal property are perfected by registration on the PPSR, and priority is determined by registration order rather than by the form of the security.