New Zealand is a beautiful country. There is a huge business opportunity here, especially with the growth of the hospitality industry. If you want to start a business in New Zealand, it is a good time now. Here are four reasons to start a business in New Zealand.
Safe and secure business environment
New Zealand is one of the most secure places to do business. It was ranked first by World Bank this year for doing business. This was mainly because of protecting minority investors and for the ease of starting a business. New Zealand was ranked second for honesty and integrity in the public sector by Transparency International, an NGO working for anti-corruption. New Zealand was also ranked third by Heritage Foundation Index of Economic Freedom. The banking industry of New Zealand is strong.
Ease of doing business
New Zealand always scores very high on this factor. It only takes a day to incorporate a business in New Zealand. Registering a property takes two days. The taxation system is very business friendly. It supports research and development, capital development and international investment. New Zealand is ranked fourth for attracting foreign investors.
Cost of doing business
It costs little to do business here. The cost of labor is very competitive compared to other first-world countries. The workforce is also very educated and skilled.
Simple tax system
New Zealand offers a low-compliance and competitive tax system. Here, there is no payroll tax, no capital gains tax, and no social security tax.
The economy is very stable and competitive. There is a broad range of free trade agreements, an efficient tax code, and an open political system. There are no import tariffs or Government subsidies. The competitive economy of New Zealand facilitates business.