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Crypto Asset Securities Provider in New Zealand

New Zealand Crypto License

New Zealand is a prime destination for cryptocurrency businesses due to its robust regulatory framework and supportive environment. The Financial Markets Authority (FMA) regulates crypto activities, ensuring compliance with the Financial Markets Conduct Act 2013. Crypto exchanges must obtain an FMA license, meeting strict requirements for investor protection and market integrity, including AML, CTF, and KYC regulations. <p><p> New Zealand's proactive crypto regulation shows its commitment to innovation and consumer protection. The clear licensing process attracts blockchain and crypto enterprises, involving thorough scrutiny, background checks, financial audits, and strong security measures. This approach mitigates risks and enhances New Zealand's reputation as a leading hub for fintech, making it appealing to companies navigating global crypto regulations.
New Zealand is a prime destination for cryptocurrency businesses due to its robust regulatory framework and supportive environment. The Financial Markets Authority (FMA) regulates crypto activities, ensuring compliance with the Financial Markets Conduct Act 2013. Crypto exchanges must obtain an FMA license, meeting strict requirements for investor protection and market integrity, including AML, CTF, and KYC regulations.

New Zealand's proactive crypto regulation shows its commitment to innovation and consumer protection. The clear licensing process attracts blockchain and crypto enterprises, involving thorough scrutiny, background checks, financial audits, and strong security measures. This approach mitigates risks and enhances New Zealand's reputation as a leading hub for fintech, making it appealing to companies navigating global crypto regulations.

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Licensing Services

Timeframe: 5 - 7 months

Minimum paid up capital: There is no specific minimum share capital requirement for obtaining a crypto license in New Zealand. Companies must demonstrate financial stability and the ability to meet operational needs.


Overview

New Zealand offers a progressive regulatory environment for cryptocurrency transactions under the Financial Markets Authority (FMA). While a separate crypto license is not required, crypto assets are classified as securities and subject to regulatory controls. The taxation system includes taxes on income from mining, trading, and using cryptocurrencies. Companies must register with the Financial Service Providers Registry (FSPR) and comply with AML/CFT measures.



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Licensing Criteria and Procedures for Applying for a Crypto Asset Securities Provider in New Zealand

Notable features
Procedure
Documents Required

General information


Company structure

  • A minimum of one shareholder is required. This can be an individual or a corporate entity.
  • At least one director is required, and this director must be a resident of New Zealand to ensure compliance with local regulations.


Confidentiality

  • Beneficial owners' details – disclosed to the Authorities
  • Shareholders' details – part of public record
  • Directors' details – part of public record


Taxation

New Zealand has a standard corporate tax rate of 28%. Cryptocurrency gains are treated as ordinary income and taxed accordingly. There is no capital gains tax, but income from crypto transactions is taxable.


Accounting requirements

  • Filing annual report is obligatory


Secretary - Required

Registered office - A physical office in New Zealand is mandatory. This ensures that the business is managed locally and complies with regulatory requirements.



The application process for a crypto license involves several steps:

  • Registration: Register the company with the New Zealand Companies Office.
  • Financial Service Providers Register (FSPR): Register with the FSPR.
  • Documentation: Prepare and submit detailed business plans, AML/CFT policies, and key personnel information.
  • Approval: The Financial Markets Authority (FMA) reviews the application, a process that includes thorough background checks and compliance assessments.



Key documents required for the application include:

  • Business Plan: Detailed plan outlining the company's operations and compliance measures.
  • AML/CFT Policies: Anti-money laundering and counter-terrorism financing procedures.
  • Directors’ and Shareholders’ Information: Proof of identity and residence.
  • Financial Statements: Evidence of financial stability.
  • Office Address: Proof of a physical office in New Zealand.