GENERAL INFORMATION INTRODUCTION
Niue is an independent democratic commonwealth country located in the South Pacific Ocean. Afoli, the capital of Niue, is the administrative and commercial centre. The Island is self governed by a local assembly of 20 members, headed up by the Premier. New Zealand is responsible for defence and international affairs and Nuieans are New Zealand citizens. The population of the island is approximately 2,000. Offshore legislation was introduced in 1994 including banking, insurance and trust legislation to enable the Island to offer a complete range of offshore products.
LANGUAGE
The official and spoken language is English but Polynesian is widely spoken.
TYPE OF LAW
Based on English Common Law with local modifications.
COMPANY INFORMATION
TYPE OF COMPANY FOR INTERNATIONAL TRADE AND INVESTMENT
International Business Company (IBC)
TIME TO INCORPORATE
One Day, but allow five working days for receipt of documentation.
RESTRICTIONS ON NAME AND ACTIVITY
Names must end with one of the following words, or their relevant abbreviations - Limited, Corporation, Incorporated, Societe Anonyme, Sociedad Anonima.
The following names and their associated activities, cannot be used: Assurance, Bank, Building Society, Savings, Loans, Insurance, Chartered, Fund, Royal, Trust, Chamber of Commerce, University Co-operative and Municipal.
CLASSES OF SHARES PERMITTED
Registered shares, bearer shares, shares of no par value, preference shares, redeemable shares and shares with or without voting rights.
DISCLOSURE OF BENEFICIAL OWNERSHIP TO AUTHORITIES
No.
LICENCE FEES
The annual licence for an IBC is US$150 per year.
FINANCIAL STATEMENT REQUIREMENTS
Whilst there is no requirement to file audited accounts with the authorities, a company is required to keep financial records, which reflect the financial position of a company. |
