Companies Office Fees Reduction

Tuesday, 18 December 2001, 3:22 pm
Press Release: Unknown

Companies Office Fees Reduction Lowers Compliance Costs To Business

Registering a company online will become significantly cheaper from 1 January 2002, following the announcement by the Companies Office of reduced fees for a number of business registry services.

The reductions will apply to over 650,000 transactions each year, saving the New Zealand business community over $5 million in annual compliance costs. This is the second round of cost reductions announced by the Companies Office since June 1999.

The cost of online company name reservation, the first step towards registering a company in New Zealand, has been reduced from $15 to $10, while the online reservation fee drops from $70 to $50.

Registration of company documents also becomes significantly cheaper. The cost of filing an online annual return will drop from $30 to $15, registering a charge from $50 to $5, and registering a financial statement from $250 to $100. The cost of online file searches will also drop from $4 to $2 per search.

Companies Office Manager Justin Hygate has described the fee reductions as significant savings that will deliver tangible benefits to both companies and the Companies Office.
“The new fee regime will further promote use of our online services available through the Companies Office website. This enables faster, easier, and cheaper updating of company details, which will consequently ensure that the information on the companies register is current.”

Ends

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