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Incorporate NZ: Bank account FOR COMPANY?

Incorporate NZ: Bank account FOR COMPANY?

Old Sep 13th 2009, 9:49 pm
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Default Incorporate NZ: Bank account FOR COMPANY?

Hi Guys!

I'm not exactly British but this is as far as I could find, the more active forum about living in NZ.

I'm not planning to live there full time, just part time renting a house for about 2 months or so in the future, but right now I need to open my business there (I do iPhone games).

Once my business is incorporated in NZ (not branch, but full business, from zero) I know I need to go over there to open a bank account "face-to-face".

I'm from Argentina so its a 35hs flight (hell yeah!), so I was wondering if its an easy-straight-forward process to open a bank account for my new NZ company? (not for me, but for my NZ company).

I know that a personal account requires one to show proof of living in NZ and bills but, that's for personal accounts I'm actually talking about a business bank account for a business formed in NZ.

Does that makes sense?

How does it work? they open it fast for you (HSBC, ABS, etc) or its a really difficult process and non-business friendly?

Cheers!
Don Cabrera
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Old Sep 13th 2009, 9:57 pm
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Default Re: Incorporate NZ: Bank account FOR COMPANY?

Originally Posted by doncabrera View Post
Hi Guys!

I'm not exactly British but this is as far as I could find, the more active forum about living in NZ.

I'm not planning to live there full time, just part time renting a house for about 2 months or so in the future, but right now I need to open my business there (I do iPhone games).

Once my business is incorporated in NZ (not branch, but full business, from zero) I know I need to go over there to open a bank account "face-to-face".

I'm from Argentina so its a 35hs flight (hell yeah!), so I was wondering if its an easy-straight-forward process to open a bank account for my new NZ company? (not for me, but for my NZ company).

I know that a personal account requires one to show proof of living in NZ and bills but, that's for personal accounts I'm actually talking about a business bank account for a business formed in NZ.

Does that makes sense?

How does it work? they open it fast for you (HSBC, ABS, etc) or its a really difficult process and non-business friendly?

Cheers!
Don Cabrera
Very easy. Make an appointment with a business advisor and they will open your company account for you within the hour. As company director, you will need all the ID documents that you would do with a personal account, and your company's certificate of incorporation and IRD number. Best to contact the bank in question first to see exactly what they would need. I have opened a company bank account through BNZ and it was very easy.
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Old Sep 13th 2009, 11:20 pm
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Default Re: Incorporate NZ: Bank account FOR COMPANY?

Originally Posted by MrCFD View Post
Very easy. Make an appointment with a business advisor and they will open your company account for you within the hour. As company director, you will need all the ID documents that you would do with a personal account, and your company's certificate of incorporation and IRD number. Best to contact the bank in question first to see exactly what they would need. I have opened a company bank account through BNZ and it was very easy.
Thank you very much for the answer mate! it helps A LOT, really, you just made my Sunday really happy!

One question though: what documents they asked you to present? I was aware about the company documents, but wasn't aware that as a director they will need more information (not that I cannot provide but, just want to start gathering papers).

I will take in account BNZ for my business! Thanks!

I know they may ask me:

- Passport
- Credit Card Bills
- Some telephone bills at my name

What other stuff they usually ask? because as far as I saw, for example, HSBC doesn't actually ask any of those (at least, the website doesn't really show that information, just usual company certificates and incorporation papers).
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