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.
Whilst every effort has been made to ensure
that the details contained herein are correct
and up-to-date, it does not constitute legal or
other professional advice. We do not accept any
responsibility, legal or otherwise, for any error
or omission.
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