AUCKLAND, NEW ZEALAND – Over the last
quarter of a century New Zealand's economy has gone from being
one of the most regulated in the OECD to one of the least
regulated. Complementing this is its low-inflation environment,
long-standing flexible exchange rate with no exchange controls or
restrictions on bringing in or repatriating funds and it's no
wonder this island nation has established itself as a premier
The country currently enjoys a sound macroeconomic foundation
with a strong fiscal position, requirements to keep public debt at
prudent levels, a leading sovereign currency, favourable tax regime
and a monetary policy managed by an independent central bank, which
is charged with maintaining price stability.
Last year New Zealand raised its key interest rate which made it
the first developed nation to exit record-low borrowing costs. This
was remarkable considering New Zealand removed monetary stimulus at
the same time as the Federal Reserve, the European Central Bank,
the Bank of England and the Bank of Japan all pledged to hold
interest rates at record lows to encourage lending and stimulate
their own economies.
More recently investor appetite for residential property in New
Zealand has risen and values have continued their record growth in
2015 particularly in its largest city Auckland. This has been
primarily due to net migration driving demand and the country
welcomes and encourages foreign investment and buying property is
subject to few rules and buyers do not have to be residents. This
has led to a massive demand for luxury properties and an influx of
wealthy buyers seeking to escape the threat of terrorism, civil
unrest, nationalisation and instabilities in financial markets in
their own countries.
For much of the last decade New Zealand's economy has
rapidly evolved and diversified and it now has an export-driven
competitive economy accounting for nearly 35% of its GDP. Nowadays,
the country has sizable manufacturing and service sectors, a
burgeoning tech industry and tourism has become the single biggest
generator of foreign exchange.
New Zealand is now recognized globally as being a safe place to
invest and do business and has ranked first in the world for
protecting investors, lack of corruption and starting a business.
Additionally; its economic policies, political system, reputation
for innovation, stability and proximity to Asia's booming
economies make this island nation one of the most sought-after
places to invest in 2015.
Global investors who want to enjoy the advantages of the
security of New Zealand coupled with the high interest rates
without exposing themselves to exchange rate risk can now invest in
New Zealand through an easy to open Vivier & Co deposit
The content of this article is intended to provide a general
guide to the subject matter. Specialist advice should be sought
about your specific circumstances.
To print this article, all you need is to be registered on Mondaq.com.
Click to Login as an existing user or Register so you can print this article.
Following an evaluation of Hong Kong in 2008, the Financial Action Task Force ("FATF")1 identified the following deficiencies in the Hong Kong anti-money laundering ("AML") and counter-terrorist financing ("CTF") regime
The literal meaning of laundering is washing or cleaning dirty clothes.
Some comments from our readers… “The articles are extremely timely and highly applicable” “I often find critical information not available elsewhere” “As in-house counsel, Mondaq’s service is of great value”
Register for Access and our Free Biweekly Alert for
This service is completely free. Access 250,000 archived articles from 100+ countries and get a personalised email twice a week covering developments (and yes, our lawyers like to think you’ve read our Disclaimer).