Overseas entity exemption notices

How overseas entities extend offers into New Zealand

Under an exemption notice, an entity registered outside New Zealand may be able to extend an offer that is registered in their home country into New Zealand. 

Exemption notices may be issued by the Financial Markets Authority under the Financial Markets Conduct Act 2013 (FMC Act). 

On 1 December 2014, the Disclose Register was established for all offers of financial products and managed investment schemes made under the FMC Act. As of 1 December 2016, issuers and managers of financial products and managed investment schemes operate under the FMC Act.

Ongoing compliance obligations

An overseas offeror may have ongoing filing obligations under an exemption notice, ensure you are familiar with these requirements. 

Financial statements

An overseas issuer (offeror) might have an obligation to file audited financial statements, within 4 months of its financial reporting balance date, with the Registrar of Financial Service Providers under section 461H of the FMC Act.

If so, the financial statements will need to be delivered in hardcopy to the Companies Office for registration against the offeror.

The fee for filing financial statements is NZ$255 (plus GST). This fee includes a Financial Markets Authority levy of $80 (plus GST).