New Zealand Resident Director Required
Last June 2014, Companies and Limited Partnerships Amendment Bill now creates the Companies Amendment Act (No 4) 2014 and the Limited Partnerships Amendment Act (No 2) 2014 which are about coming into force.
Existing companies need now to comply with the requirement to have at least one director (or partner in the case of an LP) who is resident in New Zealand.
Other main changes to the Acts include (a) Directors’ personal information: directors and partners of limited partnerships will need to register the details of their date and place of birth with the Registrar; and (b) Ultimate holding company information: every company will need to disclose details of its ultimate holding company (if the company has one).
If the director lives in Australia and is a director of a company incorporated in Australia, the director will need to provide the details of an Australian company (i.e. – its name, registered office address and Australian Company Number (ACN)) that they are a director of.
All companies need to meet these requirements by 28 October 2015.
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