The New Zealand Broker Dealer Market
The New Zealand Broker Dealer market is one of the most reputable offshore jurisdictions for forming a Broker Dealership for trading. A Broker Dealer within the New Zealand jurisdiction that caters to non-New Zealand residents is any person or Company providing Financial Services from or within New Zealand, including Banks, Building Societies, Brokers, Credit Unions, Currency Exchangers, Finance Companies, Financial Advisers, Investment Managers, and Insurers among others. The mechanism of registering a Broker Dealer is made possible due to the fact that New Zealand repealed its entire Banking Act in 1995 and thereby facilitated free entry in to the business of banking. There are several laws regulating a financial business, but New Zealand is unique in the sense that an international banking entity can be established without capital requirements, qualification requirements or excessive supervisory requirements. If banking services are not offered to the public in New Zealand, the requirements of prospectus, supervisory trustee and investment statements as set out in Part II of the Securities Act 1978 do not apply. FSPs offering services to non-residents also operate outside the geographical scope of the Non-Bank Deposit. This structure is therefore ideal for an Asia focused broker dealership which gives the comfort of being within the Asia Pacific region within a common time zone. In addition, the Broker Dealer can take clients from all over the World.
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