{"id":214864,"date":"2022-04-07T20:01:06","date_gmt":"2022-04-07T07:01:06","guid":{"rendered":"https:\/\/legalvision.co.nz\/?p=214864"},"modified":"2022-07-14T12:52:38","modified_gmt":"2022-07-13T23:52:38","slug":"subsidiary-company","status":"publish","type":"post","link":"https:\/\/legalvision.co.nz\/corporations\/subsidiary-company\/","title":{"rendered":"What is a Subsidiary Company in NZ?"},"content":{"rendered":"<p><span style=\"font-weight: 400\">When running a successful business, you may wonder what next steps to take to grow your business further. One possible option is creating a holding company and making your company a subsidiary company. It is easiest to understand holding and subsidiary companies like a parent-child relationship. <\/span><span style=\"font-weight: 400\">This article will outline how to create and register these companies. It also explores the<\/span><span style=\"font-weight: 400\"> benefits to creating a holding company and whether this is possible if you live overseas.<\/span><\/p>\n<h2><span style=\"font-weight: 400\">What is a Holding Company?\u00a0<\/span><\/h2>\n<p><span style=\"font-weight: 400\">A <\/span><a href=\"https:\/\/legalvision.co.nz\/business-structures\/ultimate-holding-company-structure\/\"><span style=\"font-weight: 400\">holding company<\/span><\/a><span style=\"font-weight: 400\"> is slightly different from a traditional company structure. They are also known as a parent company, which is a good analogy for its functions. A holding company holds the assets of its &#8216;child&#8217; company &#8211; a subsidiary &#8211; in its own name. The holding company owns the assets, while the subsidiary company controls the business&#8217; day-to-day operations.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">These assets are often:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400\"><span style=\"font-weight: 400\">intellectual property;<\/span><\/li>\n<li style=\"font-weight: 400\"><span style=\"font-weight: 400\">physical property;<\/span><\/li>\n<li style=\"font-weight: 400\"><span style=\"font-weight: 400\">capital; and<\/span><\/li>\n<li style=\"font-weight: 400\"><span style=\"font-weight: 400\">equipment.\u00a0<\/span><\/li>\n<\/ul>\n<div class=\"box box--icon box--star\">\n<p><span style=\"font-weight: 400\">If your company is highly successful and has experienced tremendous growth, you could establish a holding company. This will typically make your existing company a subsidiary, as it will already be experienced and functional at running the operational side of the business.\u00a0<\/span><\/p>\n<\/div>\n<h2><span style=\"font-weight: 400\">Requirements to Create Holding and Subsidiary Companies?<\/span><\/h2>\n<p><span style=\"font-weight: 400\">If you decide that you would like your company to become a subsidiary and want to <\/span><a href=\"https:\/\/legalvision.co.nz\/business-structures\/restructure-company\/\"><span style=\"font-weight: 400\">set up a holding company<\/span><\/a><span style=\"font-weight: 400\">, there are a few steps you will need to take. You cannot just simply assign a company to a holding company, and it, therefore, becomes a subsidiary company.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">In New Zealand, there are a few requirements for a company to meet before being considered a subsidiary of a holding company. A company is most likely a subsidiary if it has another company that:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400\"><span style=\"font-weight: 400\">controls the makeup of its board;<\/span><\/li>\n<li style=\"font-weight: 400\"><span style=\"font-weight: 400\">has more than half of the number of votes at company meetings;<\/span><\/li>\n<li style=\"font-weight: 400\"><span style=\"font-weight: 400\">owns more than half of the shares (is a majority shareholder); and<\/span><\/li>\n<li style=\"font-weight: 400\"><span style=\"font-weight: 400\">receives more than half of every share dividend.\u00a0<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400\">Therefore, holding companies must have a significant level of control of their subsidiaries. Such control is known as a controlling interest.<\/span><\/p>\n\n<a href=\"#content-next\"\n   class=\"block p-4 mt-10 text-xl font-bold text-center text-white no-underline bg-gray-800 rounded-t-xl\">\n    Continue reading this article below the form\n    <i class=\"text-xl fa-regular fa-arrow-down\"><\/i>\n<\/a>\n<div class=\"px-6 pt-10 pb-12 mb-10 text-center bg-gray-100 rounded-b-xl sm:px-12 test\">\n    <div class=\"mb-8 text-2xl font-bold text-orange\">\n        Need legal advice?\n        <br>\n        <span class=\"text-lg not-prose\">\n                            Call <a href=\"tel:+64800005570\" class=\"not-prose\">0800 005 570<\/a> for urgent assistance.\n                <br>\n                Otherwise, complete this form, and we will contact you within one business day.\n                    <\/span>\n    <\/div>\n\n    \n\n<div class=\"not-prose flex justify-center text-left gform_input_bg_white    \">\n    <script>\nvar 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As with a traditional <\/span><a href=\"https:\/\/legalvision.co.nz\/business-structures\/limited-liability\/\"><span style=\"font-weight: 400\">limited liability company<\/span><\/a><span style=\"font-weight: 400\">, you need to go through the complete registration process to register a company and ensure that it is on the Companies Register. Therefore, the holding company will need:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400\"><span style=\"font-weight: 400\">a unique name;<\/span><\/li>\n<li style=\"font-weight: 400\"><span style=\"font-weight: 400\">physical address;<\/span><\/li>\n<li style=\"font-weight: 400\"><span style=\"font-weight: 400\">contact address;<\/span><\/li>\n<li style=\"font-weight: 400\"><span style=\"font-weight: 400\">at least one share, shareholder, and director.\u00a0<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400\">While holding and subsidiary companies are slightly different, it is still essential to register a holding company with the Companies Office. Formal registration ensures that your holding company goes on the Companies Register and legally becomes a separate entity. This will be legally important if you transfer assets from the subsidiary into the holding company.\u00a0<\/span><\/p>\n<h2><span style=\"font-weight: 400\">Benefits When Registering a Holding Company?<\/span><\/h2>\n<p><span style=\"font-weight: 400\">A holding company can have several benefits for your business. If a holding company holds your company&#8217;s assets, they will be protected if someone sues the subsidiary company. Additionally, a holding company can own several subsidiary companies, and make centralised decisions for the subsidiary companies. Indeed, this can streamline processes for your subsidiary companies.\u00a0<\/span><\/p>\n<div class=\"box box--icon box--info\">\n<p><span style=\"font-weight: 400\">Additionally, it allows all subsidiary companies to operate more flexibly with the knowledge that a larger company protects them.\u00a0<\/span><\/p>\n<\/div>\n<h2><span style=\"font-weight: 400\">I Live Overseas. Can I Create a Subsidiary Company in New Zealand?<\/span><\/h2>\n<p><span style=\"font-weight: 400\">You might be an overseas holding company wanting to open subsidiary companies in New Zealand. If so, it is essential to know that the subsidiary will be considered a tax resident. Therefore, you will need to ensure that at least one of the <\/span><a href=\"https:\/\/legalvision.co.nz\/startups\/founder-director-shareholder\/\"><span style=\"font-weight: 400\">company directors<\/span><\/a><span style=\"font-weight: 400\"> lives in New Zealand. Generally, they will need to be a formal resident and live here at least half of the time. You will additionally need to register the subsidiary with the New Zealand Companies Office.\u00a0<\/span><\/p>\n    <div class=\"my-7 lg:my-10 border-y-2 border-gray-100 py-7 lg:py-10 flex flex-col sm:flex-row items-start gap-10\">\n                    <img decoding=\"async\" class=\"w-52 mx-auto my-0! rounded\" src=\"https:\/\/img.legalvision.com.au\/wp-content\/uploads\/sites\/2\/2021\/10\/21140438\/NZ-Startup-Manual-251x360-2.png\" alt=\"Front page of publication\"\n                 loading=\"lazy\" width=\"208\" height=\"298\">\n                <section>\n            <div class=\"text-2xl font-bold\">NZ Startup Manual: A Legal Handbook For Founders<\/div>\n            <div class=\"body-text\">\n                <p>Essential reading for anyone building their startup. This free guide includes practical advice and seven real-life case studies.<\/p>\n            <\/div>\n            \n\n<a href=\"https:\/\/go.legalvision.co.nz\/NZ-Startup-Manual.html\" class=\" block px-5 py-3.5 max-w-fit bg-orange button__hover transition rounded text-white font-bold text-lg no-underline uppercase leading-tight text-center\" target=\"\" rel=\"\">Download Now<\/a>        <\/section>\n    <\/div>\n\n<h2><span style=\"font-weight: 400\">Key Takeaways\u00a0<\/span><\/h2>\n<p><span style=\"font-weight: 400\">Creating a holding-subsidiary company structure can be an exciting step to expanding your business. This will both protect your company but also allow opportunities for growth. However, there are several requirements when setting up a holding company, and it is essential to follow the process correctly.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">If you want to learn more about holding companies, our experienced <\/span><a href=\"https:\/\/legalvision.co.nz\/business-lawyers-lp-new-zealand\"><span style=\"font-weight: 400\">business lawyers<\/span><\/a><span style=\"font-weight: 400\"> can assist as part of our LegalVision membership. For a low monthly fee, you will have unlimited access to lawyers to answer your questions and draft and review your documents. Call us today on <a href=\"tel:+64800005570\" class=\"AVANSERnumber dynamic-number\">0800 005 570<\/a> or visit our <\/span><a href=\"https:\/\/legalvision.co.nz\/membership\/\"><span style=\"font-weight: 400\">membership page<\/span><\/a><span style=\"font-weight: 400\">.<\/span><\/p>\n<h2><span style=\"font-weight: 400\">Frequently Asked Questions<\/span><\/h2>\n\n\n<div class=\"schema-faq wp-block-yoast-faq-block\"><div class=\"schema-faq-section\" id=\"faq-question-1649314232359\"><strong class=\"schema-faq-question\"><strong>Do I need to inform the Companies Office if my company becomes a subsidiary company?<\/strong><\/strong> <p class=\"schema-faq-answer\">Yes. You must inform the Companies Office if your company becomes a subsidiary. Otherwise, your details will be incorrect on the register and may lead to trouble in the future.<\/p> <\/div> <div class=\"schema-faq-section\" id=\"faq-question-1649314243258\"><strong class=\"schema-faq-question\"><strong>Can I create subsidiary companies in New Zealand as a non-resident?<\/strong><\/strong> <p class=\"schema-faq-answer\">Subsidiary companies created in New Zealand will need at least one director to be a resident. This typically means someone who lives in New Zealand half the time and has resident status.\u00a0<\/p> <\/div> <\/div>\n<div class=\"not-prose m-feedback-prompt\">\n    <!-- Thumbs up\/down bar -->\n    <div class=\"m-feedback-prompt__main\">\n        <div class=\"m-feedback-prompt__title\">Was this article helpful?<\/div>\n        <div>\n            <!--span class=\"m-feedback-prompt__button--text\">Thanks!<\/span-->\n            <button type=\"button\" class=\"m-feedback-prompt__button m-feedback-prompt__button--yes\"\n                    data-analytics-link=\"feedback-prompt:yes\" aria-label=\"Agree\">\n                <i class=\"fa-regular fa-thumbs-up fa-3x\"><\/i>\n            <\/button>\n            <button type=\"button\" class=\"m-feedback-prompt__button m-feedback-prompt__button--no\"\n                    data-analytics-link=\"feedback-prompt:no\" aria-label=\"Disagree\">\n                <i class=\"fa-regular fa-thumbs-down fa-3x\"><\/i>\n            <\/button>\n        <\/div>\n    <\/div>\n\n    <!-- Feedback form -->\n    <div class=\"m-feedback-prompt__form\">\n        <div class=\"m-feedback-prompt__form--thanks \">\n            <div>Thanks!<\/div>\n            <p>\n                We appreciate your feedback \u2013 your submission has been successfully received.            <\/p>\n        <\/div>\n        <form id=\"contact-form\" class=\"m-feedback-prompt__form--form\" action=\"\" method=\"post\">\n            <input type=\"hidden\" id=\"authenticity_token\" name=\"authenticity_token\" value=\"90c4126e1b\" \/><input type=\"hidden\" name=\"_wp_http_referer\" value=\"\/api\/wp\/v2\/posts\/214864\" \/>            <input value=\"https:\/\/legalvision.co.nz\/corporations\/subsidiary-company\/\" type=\"hidden\" name=\"currenturl\"\n                   id=\"currenturl\">\n            <input value=\"What is a Subsidiary Company in NZ?\" type=\"hidden\" name=\"currenttitle\"\n                   id=\"currenttitle\">\n            <label>\n                <!-- display on thumbs-up -->\n                <span class=\"m-feedback-prompt__feedback m-feedback-prompt__feedback--yes\">\n                    Can you tell us <span class=\"font-semibold\">why<\/span> you found it helpful?\n                <\/span>\n\n                <!-- display on thumbs-down -->\n                <span class=\"m-feedback-prompt__feedback m-feedback-prompt__feedback--no text-lg\">\n                    How can we better improve this article?\n                <\/span>\n                <textarea name=\"feedbackmessage\" id=\"feedbackmessage\" required><\/textarea>\n            <\/label>\n\n            <div class=\"m-feedback-prompt__form--error\" id=\"form-submit-error\"><\/div>\n            <button id=\"submit-contact-form-button\" type=\"submit\" name=\"commit\" class=\"m-feedback-prompt__form--submit\"\n                    data-analytics-link=\"feedback-prompt:submit\">\n                Submit            <\/button>\n        <\/form>\n    <\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>When running a successful business, you may wonder what next steps to take to grow your business further. One possible option is creating a holding company and making your company a subsidiary company. It is easiest to understand holding and subsidiary companies like a parent-child relationship. This article will outline how to create and register<a href=\"https:\/\/legalvision.co.nz\/corporations\/subsidiary-company\/\">Continue reading <span class=\"sr-only\">&#8220;What is a Subsidiary Company in NZ?&#8221;<\/span><\/a><\/p>\n","protected":false},"author":13318,"featured_media":201814,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_relevanssi_hide_post":"","_relevanssi_hide_content":"","_relevanssi_pin_for_all":"","_relevanssi_pin_keywords":"","_relevanssi_unpin_keywords":"","_relevanssi_related_keywords":"","_relevanssi_related_include_ids":"","_relevanssi_related_exclude_ids":"","_relevanssi_related_no_append":"","_relevanssi_related_not_related":"","_relevanssi_related_posts":"635,202213,204441,211259,205181,204183","_relevanssi_noindex_reason":"","editor_notices":[],"footnotes":""},"categories":[14],"tags":[54,61,497,548,1428],"class_list":["post-214864","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-corporations","tag-medium-business","tag-holding-company","tag-corporation","tag-asset-protection","tag-subsidiary-company"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.1.1 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>What is a Subsidiary Company in NZ? | LegalVision NZ<\/title>\n<meta name=\"description\" content=\"Creating a holding-subsidiary company structure can be an exciting step to expanding your business. 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She is currently completing a Bachelor of Laws and a Bachelor of Arts in Sociology. In her spare time, Abby enjoys op-shopping with friends and spending time with her cat.","url":"https:\/\/legalvision.co.nz\/author\/abigailjones\/"},{"@type":"Question","@id":"https:\/\/legalvision.co.nz\/corporations\/subsidiary-company\/#faq-question-1649314232359","name":"Do I need to inform the Companies Office if my company becomes a subsidiary company?","acceptedAnswer":{"@type":"Answer","text":"Yes. You must inform the Companies Office if your company becomes a subsidiary. 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This typically means someone who lives in New Zealand half the time and has resident status.\u00a0","inLanguage":"en-NZ"},"inLanguage":"en-NZ"}]}},"_links":{"self":[{"href":"https:\/\/legalvision.co.nz\/api\/wp\/v2\/posts\/214864","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/legalvision.co.nz\/api\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/legalvision.co.nz\/api\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/legalvision.co.nz\/api\/wp\/v2\/users\/13318"}],"replies":[{"embeddable":true,"href":"https:\/\/legalvision.co.nz\/api\/wp\/v2\/comments?post=214864"}],"version-history":[{"count":4,"href":"https:\/\/legalvision.co.nz\/api\/wp\/v2\/posts\/214864\/revisions"}],"predecessor-version":[{"id":216252,"href":"https:\/\/legalvision.co.nz\/api\/wp\/v2\/posts\/214864\/revisions\/216252"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/legalvision.co.nz\/api\/wp\/v2\/media\/201814"}],"wp:attachment":[{"href":"https:\/\/legalvision.co.nz\/api\/wp\/v2\/media?parent=214864"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/legalvision.co.nz\/api\/wp\/v2\/categories?post=214864"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/legalvision.co.nz\/api\/wp\/v2\/tags?post=214864"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}