The Land Without A Banking Law - How To Start A Bank With A Thousand Dollars
New Zealand is generally perceived as a high tax country and has consequently not been a target in the international campaign against offshore tax havens. The fact is that New Zealand offers secretive zero tax structures for offshore activities and perhaps even more remarkable, a legal framework that allows for virtually anyone to start a Bank without being subject to any capital or qualification requirements. New Zealand Offshore Finance Companies are Banks, both in a legal and practical sense, but not Registered Banks under supervision of the Reserve Bank of New Zealand. While there are laws in New Zealand regulating financial activities, there are no regulatory entry barriers as such for the business of banking when services are offered to non-residents only. The regulatory framework and upcoming changes to the relevant legislation are explained. You will also learn about abusive behavior by government officials and embarrassing blunders by the local authorities..
The Land Without A Banking Law Publisher: Opus Operis LLP - United Kingdom Author: Michael Magnusson - Sweden - Netherlands Paperback: 236 pages ISBN-10: 0957543816 ISBN-13: 978-0957543812