Plain language law

New Zealand law explained for everyone

Companies Act 1993

Incorporation - Essential requirements

10: Essential requirements

You could also call this:

“What you need to set up a company in New Zealand”

When you start a company in New Zealand, there are some important things you need to have. You must give your company a name. Your company needs to have at least one share. You also need to have at least one shareholder. Shareholders can have either limited or unlimited responsibility for what the company owes.

Your company must have at least one director. This director needs to either live in New Zealand or live in a country that can enforce New Zealand’s company laws. If they live in another country, they must also be a director of a company in that country, which follows laws similar to New Zealand’s Companies Act.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM320108.

Topics:
Business > Starting a business
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Part 2 Incorporation
Essential requirements

10Essential requirements

  1. A company must have—

  2. a name; and
    1. 1 or more shares; and
      1. 1 or more shareholders, having limited or unlimited liability for the obligations of the company; and
        1. 1 or more directors, of whom at least 1 must—
          1. live in New Zealand; or
            1. live in an enforcement country and be a director of a body corporate that is incorporated in that enforcement country under a law that is equivalent to this Act.

            Notes
            • Section 10(d): replaced, on , by section 9 of the Companies Amendment Act 2014 (2014 No 46).
            • Section 10(d)(ii): replaced, on , by section 15 of the Regulatory Systems (Commercial Matters) Amendment Act 2017 (2017 No 12).