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NZ Pre Migration Trust

NZ Pre Migration Trust

Old Oct 12th 2010, 12:14 pm
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Default NZ Pre Migration Trust

Does anyone recommend a good law firm who can setup our NZ Pre Migration Trust?

Cost to setup? Cost to maintaining it?

Thanks
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Old Oct 13th 2010, 8:30 am
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Default Re: NZ Pre Migration Trust

I can recommend a good law firm if you are coming to Dunedin, as I'm sure others can if you are going to different parts of kiwiland. But I must admit I don't really understand your question. What is a pre-migration trust?
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Old Oct 13th 2010, 12:06 pm
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Default Re: NZ Pre Migration Trust

I was told to set up a trust called pre-migration trust for new migrants or NZ citizens who left the country for more than 10 years. By setting up this type of trust, we are waived on NZ taxes of foreign earned incomes for 4 years. In addition, it provides privacy and protection.

We're planning to migrate there in a year and were told that this trust has to set up before becoming a tax resident. As I know that there are many good law firms, I just want to know the cost of setting up and maintaining it.

Thanks.
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Old Oct 13th 2010, 12:25 pm
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Default Re: NZ Pre Migration Trust

Originally Posted by xpatadventure View Post
Does anyone recommend a good law firm who can setup our NZ Pre Migration Trust?

Cost to setup? Cost to maintaining it?

Thanks
No - sorry!

But, what's an "NZ Pre-Migration Trust"?

(Sorry, your answer appeared after I'd posted my reply)

I've never heard of one. I also thought the "4 year" thing was standard anyway, subject to the nature of the foreign income.

Last edited by thedtb; Oct 13th 2010 at 12:28 pm.
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Old Oct 13th 2010, 7:10 pm
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Default Re: NZ Pre Migration Trust

Originally Posted by xpatadventure View Post
I was told to set up a trust called pre-migration trust for new migrants or NZ citizens who left the country for more than 10 years. By setting up this type of trust, we are waived on NZ taxes of foreign earned incomes for 4 years. In addition, it provides privacy and protection.

We're planning to migrate there in a year and were told that this trust has to set up before becoming a tax resident. As I know that there are many good law firms, I just want to know the cost of setting up and maintaining it.

Thanks.
That seems bad/unecessary advice. The 4yr waiver is std irrespective of the trust and you certainly don't need one to become a tax resident. Such trusts are usually used to avoid a tax issue not create one. I suspect you have been advised to set one up to avoid a chunk of your income being taxable in NZ once you become a tax resident.
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