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Companies Office lowers charges

By Phil Boeyen, ShareChat Business News Editor

Tuesday 18th December 2001

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The Companies Office says New Zealand businesses will save millions of dollars a year as a result of cheaper fees for its business registry services.

The cost of online company name reservation, the first step towards registering a company in New Zealand, has been reduced from $15 to $10 while the online reservation fee has been dropped from $70 to $50.

The Companies Office says the reductions will apply to over 650,000 transactions each year, saving the New Zealand business community over $5 million in annual compliance costs.

"This is the second round of cost reductions announced by the Companies Office since June 1999," says manager Justin Hygate.

Mr Hygate says the fee reductions are significant savings that will deliver tangible benefits to both companies and the Companies Office.

"The new fee regime will further promote use of our online services available through the Companies Office website. This enables faster, easier, and cheaper updating of company details, which will consequently ensure that the information on the companies register is current."

Registration of company documents also becomes cheaper, with the cost of filing an online annual return falling from $30 to $15, registering a charge from $50 to $5, and registering a financial statement from $250 to $100.

The cost of online file searches will also drop, from $4 to $2 per search.

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