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HC 10: Complying trusts
or “Trusts that follow strict income and tax rules”
You could also call this:

“Rules for trusts set up by people living outside New Zealand”

A foreign trust is a special kind of trust. It’s called a foreign trust if no one who set up the trust (called a settlor) lives in New Zealand during a certain time period. This period starts on the later of two dates: either 17 December 1987 or the date when someone first put money or property into the trust. The period ends at the moment you’re looking at the trust. So, if at any point during this time someone who set up the trust lived in New Zealand, it’s not a foreign trust.

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Next up: HC 12: Non-complying trusts

or “Definition and classification of trusts that don't meet specific legal requirements”
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Part H Taxation of certain entities
Trusts

HC 11Foreign trusts

  1. A trust is a foreign trust at a moment in time if no settlor is resident in New Zealand at any time in the period that—

  2. starts on the later of 17 December 1987 and the date on which a settlement was first made on the trust; and
    1. ends with the moment in time.

      Compare
      • 2004 No 35 s OB 1 foreign trust
      Notes
      • Section HC 11: amended, on , by section 5(a) of the Taxation (Business Tax, Exchange of Information, and Remedial Matters) Act 2017 (2017 No 3).
      • Section HC 11(b): amended, on , by section 5(b) of the Taxation (Business Tax, Exchange of Information, and Remedial Matters) Act 2017 (2017 No 3).