New Zealand Offshore Financial Company (OFC) Finance Institution Off Shore (OFI)
An Offshore Finance Company (OFC) can offer banking services to both private individuals and corporations worldwide, with no limitations on number of customers, amounts on deposit or number of currencies.
The OFC can operate in a similar way to a fully licensed bank, but the word "bank" cannot be included in the name. Activities of an OFC can include but are not limited to:
- Deposit taking & lending
- Debit and credit card services
- Issuing of financial guarantees and instruments
- Cash management services
- Current accounts
- Cheque (Checking) accounts
- Savings accounts
- Term deposits
- Wire transfer services
- Payment processing services
- Fund management
- Marketing of investment
The company is not subject to capital reserve requirements. Directors and Shareholders can be of any nationality and resident anywhere. Although the OFC is not subject to Central Bank supervision and regulation, its activities are regulated by several acts.
If you have questions about New Zealand offshore financial company please contact us.