Eternity Law International — News — FSP license in New Zealand

FSP license in New Zealand

Published:
October 4, 2022

In line with the law, a legal entity operating in the NZ monetary market can pass registratiοn as a financial service provider (for short, FSP). When an institution obtains a status of a FSP in New Zealand, it is permitted to carry out such activities as:

  • Advisory services;
  • Deposit accepting;
  • Brοkerage services;
  • Portfolio management on behalf of customers;
  • Provision of credits on contractual basis;
  • Running a money transferring;
  • Issuing e-funds;
  • Forex dealing.

Once the registering procedure is over, FSPs will need to acquire a suitable authorization for uts operation – a license. Under the law, institutions considering to deliver its services in NZ will be obliged to acquire at minimum one authorization among the 6 listed below.

The license for:

  • DΙMS (discretionary investment management service);
  • MIS (managed investment scheme);
  • Derivative issuer;
  • Crowdfunding services;
  • P2P lending services;
  • Independent trustee.

 Obligations for FSP in New Zealand

NZ FSPs fall under a bunch of conditions regarding registering, listed below:

  • FSPs must make an appropriate record in the Registrar annually and cover fees. Infringement of this regulation leads to a fine of up to 250,000 USD;
  • FSPs are also obliged to complete reports that convey their financial performance that must be checked by auditors each year.
  • FSPs must comply with a DSR scheme establishing rules which the entity must follow when tackling business disputes unless its customers are solely banking institutions, funds, and other corporate structures with a formal authorization to operate or persons with assets of 2,000,000 USD and a yearly profit over 200,000 USD/repaying an entry fee of 500,000 USD;
  • For each offer, FSPs must draw a guideline with the NZ FMA, with details in the respect of the tradable financial assets on offer, the conditions of the offer, and details about its issuers;
  • Prior to delivering services and products, New Zealand FSPs must develop a comprehensive plan for investing, covering core details that non-professional investors could grasp the meaning of;
  • FSPs must keep records on all tradable financial assets that were delivered and ensure it is audited annually.

The process of securing FSP registration in NZ

Stage 1: Choosing and reservation of legal entity name.

Stage 2: Company incοrporation.

Stage 3: Tax registration.

Stage 4: Bank account setting up.

Stage 5: FSP registration.

Stage 6: FSP license application.

Stage 7: Application for dispute resοlution scheme (DRS).

Please contact us to get more information.

You can see our current offers in the categories “Cryptocoins and licensing of cryptocurrency operations”, “Ready-made companies”, “Banks for sale” and “Licenses for sale”.

You could be interested

All you need to know about a European EMI license: a brief overview

If you consider operating as a PSP, offering issuance of debit cards, delivery of money sending and receiving services, and digital wallets, you require a license for these operations. To acquire a European EMI license, you need to get in touch with EU authorities regulating the sector of finances such as the UK FCA. The...

Secure a Trust License in the Comoros

Trust companies carry out the activities of managing and storing assets, performing their administration and distribution. Any owner of financial assets or real estate can take advantage of placing everything he owns under the management of a trust as one of the main tools for obtaining asset protection. To carry out such activities, it is...

Doing business in Singapore

Singapore has long been a popular choice in terms of conducting business worldwide. Doing business in Singapore is highly sought after due to factors including the quantity of competent labour, the effective and open economy, and the strict protection of intellectual property rights. Singapore may be the ideal location for you if you are thinking...

Registration of Additional Liability Company

The companies with additional liability are formed in the event of a combination of equity capital by the founders, the number of which is limited. A distinctive feature of such an enterprise is the subsidiary liability of the founders of the ALC for the approved obligations of the established enterprise. Its size is clearly fixed...

MetaQuotes Introduces New Requirements: Impact on White Label Solutions

The developer of MetaTrader platforms has updated the list of documents required to access the White Label program. Many companies that do not have such a tool as their own software, turn to the platforms of leading technology providers in the Forex market, such as MetaQuotes Software, through White Label. Recently, MetaQuotes Software, the creator...

Banks in Cyprus

Banks in Cyprus work with offshore companies. Cyprus has a distinct tradition of serving offshore companies – and it has a long history. The status of a British ex-colony and the surviving British legal system prepare the legal basis for dealing with offshore accounts and firms. As in the Baltics, accounts are quickly opened in...

Discover our services

The international company Eternity Law International provides professional services in the field of international consulting, auditing services, legal and tax services.

Ready-made companies for sale

Companies with a bank account around the world

Banks for sale

Established Banks for sale

Ready-made licenses for sale

Forex, cryptocurrencies, gambling, EMI, PSP, SVF, MSO, DLT

Licensing

Forex licenses, cryptocurrencies, gambling, EMI, PSP, SVF, MSO, DLT

Offshore company registration

Expert advice on the acquisition of an offshore company

Open a bank account

Open bank accounts in more than 120 banks around the world
Fill the blank:

Zurich

Dreikonigstrasse, 31A, Stockerhof
+41 435 50 73 23

Kyiv

Baseina street, 7
+38 094 712 03 54

London

Grosvenor Gardens, 52
+44 203 868 34 37

Washington

1629 K St. Suite 300 N.W.
+1 (888) 647 05 40 Toll Free

Vilnius

Gediminas Avenue, 44A
+370 52 11 14 32

Tallinn

Kesklinna linnaosa, Tuukri 19
+372 880 41 85

Edinburgh

Lochrin Square, 1
+44 203 868 34 37

Nicosia

Jacovides Tower, 5 floor
+371 665 550 51

Riga

Esplanade, 7 floor
+371 665 550 51

Hong Kong

18 Harbour Road, 35/F, Central Plaza, Wanchai
+852800938622 Toll Free

Singapore

Level 42, Suntec Tower Three, 8 Temasek Boulevard
+6531594300

Sydney

20 Martin Place
+61 2 888 00 365

Porto

2609 Avenida da Boavista
+351 800 500 206 Toll Free
Calls are made only from Portugal

Tbilisi

Revaz Tabukashvili Str., N 45, area N 7
+995706070360