When it comes to setting up a new business, its location is everything. Where you launch the business will make a huge difference in how successful it becomes. For this reason, you may want to consider setting up a company in a destination known for its start-up benefits. One destination which is often considered one of the best for foreign businesses is New Zealand. Here, you’ll discover why New Zealand is the most attractive spot for foreign business.
The benefits of doing business in New Zealand
When it comes to doing international business, New Zealand is one of the most welcoming countries. It relies heavily upon international trade and business, while simultaneously offering a range of tax benefits to its citizens. Stamp duty, capital gains, and social security are non-existent, while its public bodies remain easy to approach.
New Zealand has developed many longstanding trade relationships across the globe. It’s considered the 3 rd freest economy in the world, which has driven a sharp rise in foreign investment. If you’re looking for a stable, low-cost place to set up a business, New Zealand is tough to beat.
Which markets attract the most foreign business?
While New Zealand is a great country to set up in for all types of businesses, some sectors do fare better than others. The key markets attracting the most foreign business in the country include:
- Agriculture and forestry
- Health and social services
These are just some of the sectors currently experiencing a shortage. The agriculture and forestry, construction, and engineering sectors are experiencing long term shortages. This means there simply aren’t enough workers to fill the demand. Those looking to set up a business in New Zealand will find it easier to receive a visa and get work if they focus on the sectors which are experiencing long-term shortages. It’s also recommended you seek advice from a company such as RSM if you are planning on setting up a business in the country.
Best New Zealand destinations for business
As well as the different sectors, there’s also certain parts of New Zealand which attract more foreign business. Auckland is particularly popular with both local and international businesses. It is home to approximately a third of New Zealand’s entire population. It is also home to one of the most efficient ports in Australasia.
Overall, if you’re looking to set up an international business, New Zealand is a great country to base yourself. As you can see above, there are plenty of benefits of setting up a New
Zealand based business. From lucrative tax benefits to easy and generous trade links, it’s possible to build up a successful company with minimum overheads.