We are pleased to provide a summary of the salient features of
companies incorporated in Niue.
[ BACKGROUND ] [ COMPANY FORMATION ]
[ SHARE CAPITAL, TAXATION, LICENCE FEES &
[ STRUCTURE OF MANAGEMENT ]
|Type of Company
|Common or Civil Law
|Disclosure of Beneficial Owner
|Migration of Domicile Permitted
|Tax on Offshore Profits
|Language of Name
|Minimum Number of Shareholders
|Minimum Number of Directors
|Bearer Shares Allowed
|Corporate Directors Permitted
|Company Secretary Required
|Standard Authorised Share Capital
|Government Register of Directors
|Government Register of Shareholders
|RECURRING GOVERNMENT COSTS
|Minimum Annual Tax/Licence Fee
|Annual Return Filing Fee
Niue, which is one of the worlds largest coral islands, is located
in the South Pacific Ocean, east of Tonga. The Capital, Alofi, is the administrative and
commercial centre of Niue. The island has a total area of approximately 260 sq km
Under 2,300 people, 90% of which are of Polynesian descent. The other 10%
of the population are made up of peoples of European and Tongan descent.
Niue is a self-governing territory in free association with New Zealand.
It is fully responsible for its own internal affairs, with New Zealand retaining
responsibility for external affairs. Niue is a British Commonwealth Associate Member, and
enjoys the protection of the British Crown.
The Niue Assembly comprised 20 members, 14 of which are elected by local
constituencies and six by common roll. The Head of Government is the Premier
who is elected by the Assembly. The Premier chooses the Cabinet, which
consists of the Premier and three other ministers.
INFRASTRUCTURE AND ECONOMY
Most Niueans work on family plantations. Other sources of employment
include the Government, the financial sector, tourism and small industry.
The economy of Niue is heavily dependent on aid from New Zealand.
Government expenditure regularly exceeds revenue, with the shortfall made up by grants
from New Zealand. The grants are used to pay wages to public employees.
The Agricultural sector consists mainly of subsistence gardening, although
some cash crops are grown for export. Industry consists primarily of small factories to
process passion fruit, lime oil, honey and coconut cream. The sale of postage stamps to
foreign collectors is an important source of revenue.
In recent years, the Island has suffered a serious loss of population
caused by the migration of Niueans to New Zealand.
Polynesian, but the official commercial language is English.
The currency of the financial centre is the US$.
TYPE OF LAW
Common Law based on the English system.
PRINCIPAL CORPORATE LEGISLATION
International Business Companies Act, 1994.
Type of Company for International Trade and Investment
International Business Company.
Procedure to Incorporate
Submission by the Registered Agent of Memorandum and Articles of
Association to the Registry.
Restrictions on Trading
IBCs cannot trade within Niue or own real estate there. They cannot
undertake Banking, Insurance, Assurance, Re-Insurance, Fund Management, Asset Management
(other than the management of their own assets). They cannot solicit funds from the public
or offer their shares to the public.
Powers of Company
An International Business Company has all the powers of a natural person.
Language of Legislation and Corporate Documents
The legislation is in English. The corporate documents can be in any
language, provided they are accompanied by a Certified Translation in English.
Registered Office Required
Yes, must be maintained in Niue at the address of a licensed management
Name Approval Required
On payment of a small fee names can be reserved for thirty days. Names can
also be reserved for 72 hours free of charge.
shelf Companies Available
Time Scale to Incorporate
Two days, but allow a further five working days for delivery of the
documentation from the Registry.
A name that is identical to an existing company, a name that contains the
words "Assurance", "Bank", "Building Society", "Chamber
of Commerce", "Chartered", "Co-operative", "Imperial",
"Insurance", "Municipal", "Royal", "Trust Company"
or "Trustee Company". A name that is, in the opinion of the Registrar
undesirable, or a name that implies patronage of the Royal Family or the Government.
Language of Name
The Name can be in any language, but must be accompanied by a Certified
Translation into English to ensure that the name is not restricted.
Suffixes to Denote Limited Liability
"Limited", "Corporation", "Incorporated",
"Société Anonyme", "Sociedad Anonima", "Company",
"Limitada", "Société par actions" or "Aktiengesellschaft"
or the relevant abbreviations.
Disclosure of Beneficial Ownership to Authorities
SHARE CAPITAL, TAXATION, LICENCE FEES AND
Authorised and Issued Share Capital
The Standard Authorised Share Capital is US$50,000 divided into 50,000
shares of US$1.00 each. The Authorised Share Capital can be expressed in any Currency, or
in a mixture of Currencies. The minimum issued capital is one share of no par value or one
share of par value.
Classes of Shares Permitted
Bearer Shares Permitted
An IBC is exempted from Local Taxation.
Double Taxation Agreements
International Business Companies do not qualify for any double taxation
agreements Niue may have.
The annual licence fee is US$ 150.
Financial Statement Requirements
There is no requirement to file financial statements. The company is
required however, under the legislation, to keep financial records for the benefit of
STRUCTURE OF MANAGEMENT
The minimum number of directors is one, who may be natural persons or
bodies corporate be of any nationality and need not be residents of Niue.
The legislation makes no reference to the office of company secretary
although it is customary to appoint one to facilitate signing obligations.
The minimum number of shareholders is one.
every effort has been made to ensure that the details contained herein are correct and
up-to-date, it does not constitute legal or other professional advice. We do not accept
any responsibility, legal or otherwise, for any errors or omissions.
Please go to our Uses of offshore Companies Page where you will
find interesting information on the benefits of using offshore companies and trusts for
business and personal use, links to information on other locations and details of our
products and services.
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