Get all important country business information How and Why to Open a Bank Account in New Zealand

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New Zealand is a place that displays mysticism and an imperturbable and imposing nature. But we love this gorgeous island because New Zealand became one of the best options for people who want to keep their money in a safe and free place some time ago when the country entered the top 3 of the countries with more economic freedom according to the Index of Economic Freedom.

New Zealand is an authentic remote paradise with just 4.5 million inhabitants and far away from neighbours with unstable or authoritarian governments, and also away from calamities such as the Coronavirus pandemic.

New Zealand's charms can also be seen in its economy. It is the third most economically free country in the world and one of the top ten countries in the world to live in.

In comparison with the rest of the world, New Zealand has a rich and developed economy based on the following indicators:

The GDP per capita was estimated at $41,945.
Its inflation was set at 1.6 per cent.
Unemployment stood at 4.7%.
The New Zealand dollar is among the top 25 nominal sovereign currencies according to Standard and Poor's.

But not only is the New Zealand present bright, but its future is also bright. The Reserve Bank of New Zealand (the central monetary authority in this country) has projections showing a GDP growth rate of between 2 and 3% per year for the coming years.

The New Zealand economy operates on free-market principles, in which the state provides a context, including a commercial law framework, for operations to take place. However, the State reserves some sectors, such as education and health, where it is an essential financier and provider.

The New Zealand government has been able to harmonize the dynamics of a free market with fairly inclusive public policies, which makes this country one of the first on the list for people who want to have their money in a reliable and prosperous place. Not surprisingly, more and more people around the world are looking for ways to put their assets into New Zealand banks.

Why New Zealand? Seven reasons to open an account in a New Zealand bank

A reliable banking system

New Zealand has a modern banking system supported by a reliable telecommunications infrastructure, so banking works perfectly at all times. Over 24 banks are operating throughout the country, and the list includes industry giants such as Citibank and local banks such as ANZ and BNZ. New Zealand banks also guarantee their clients' deposits, so if you keep money in these banks, you won't have to worry about anything.

The convenience of opening bank accounts

Banking in New Zealand, in general, is prepared for clients from all over the world. Online and telephone banking, as well as branch offices, are available in English, French, German, Russian, and Chinese. Most banks also offer 24-hour service every day of the year.

The ninth best country in the world to live in

New Zealand combines the quality of life, security, access to services, a free economy and a natural diversity like no other place. That is why this country is in the top 10 of the UN Human Development Index. New Zealand is the embodiment of the phrase "a paradise in the middle of the sea".

Third best country in the world to do business

New Zealand has been in the top 3 of countries with the most ease of doing business for a couple of years now. This country has an economic environment with low inflation so that investments will float. In addition to that, the easy access to Australia and Southeast Asian countries make the New Zealand market a kind of an economic hub in the South Pacific Ocean.

Asset protection with Swiss security

Over the past 30 years, New Zealand has achieved world-class security standards when it comes to asset protection. The most attractive aspect of New Zealand's asset protection system is that it has developed extensively while staying away from the conflicts related to offshore financial centers and the OECD.

The government has a pro-immigration policy

If, in addition to opening a bank account in New Zealand, you would like to consider living in this country, you will be happy to know that the government has a favorable position on migration (as long as it is organized and within the options provided by immigration law).

The peacefulness of the New Zealand way of life

The New Zealand lifestyle favours the enjoyment of free time for the enjoyment of nature (especially the beach), the practice of sports and contact with friends. Work is a fundamental value of society, but the relaxed way of life imposes breaks for rest and recreational activities with the family.

New Zealand's banking system

New Zealand's banking system is dominated by a central bank (Reserve Bank of New Zealand) plus a variety of other entities, which have branches in all major cities, as well as in shopping malls on the outskirts. The most important banks are Westpac Trust, National Bank and ANZ. There are other types of banks; such as commercial banks (trading banks), which are mainly dedicated to loans and provide all kinds of foreign exchange services. On the other hand, savings banks are the primary sources of mortgage financing.

If you want to know which bank is more convenient for you to open your New Zealand bank account, do not hesitate to contact us! We have a team of experts who can help you choose the bank that best meets your needs.

How to open a bank account in one of the banks of New Zealand

Opening a bank account is very easy, and the extraordinary amount of NZ$ 1.00 is enough, and you will be the happy owner of a bank account in New Zealand. The system is simple, just like in Australia, and that means the following If you are a resident, you will have to show identity documents, such as passport, and other documents that can be a Kiweca driver's letter, besides signing a form.

Suppose you are not a resident of New Zealand but want to open a private account. In that case, the most likely is that your bank will require a visa for more than six months as the primary requirement in addition to your social security number or tax registration of the country where you last worked.

Suppose you want to open a bank account for a company that you have registered in New Zealand. In that case, you will generally need to present the company's incorporation documents, proof of the address of the main office of your company and documents from the owners of the business. Keep in mind that each bank may require additional information if needed, and that is why the best thing you can do is to have professionals who can accompany you throughout the process.

For personal accounts, most banks require a deposit of between $50 and $100. Commercial accounts, in some cases, require higher amounts that will depend on the bank you choose.

Our offer in New Zealand

Our readers have the opportunity to access an offer on our bank account opening services in New Zealand banks, including anonymous bank accounts with numbered debit cards for both individuals and companies.

Our team can perform a complete study of the major needs you need to cover with the New Zealand banking services and thus choose the most suitable bank for you. And after choosing the right bank, we help you to meet the requirements and formalize the application.

With some of the banks present in New Zealand, we can start helping you in the process of opening an account remotely, so it doesn't matter if you are not a New Zealand resident yet.

If you want to know more details of the offer we have to open bank accounts in banks in New Zealand do not hesitate to contact us. You can meet directly with our experts in New Zealand banking to get all the doubts you have and make the best decision.

Who are we, and what can we do for you?

Mundo experts have wide experience helping individuals, investors, and families from all over the world to find the most convenient alternatives to protect their assets and enjoy greater economic and personal freedom.

Our mission is to help you protect the results of all the years of your work. We help people find free places where they are away from the hands of authoritarian governments and suffocating tax policies.

Whether you are looking for a safe place to store your assets or need your company to have access to more markets, one element you cannot overlook is having a bank account in a reliable entity and a safe and free jurisdiction, and what better place for that than New Zealand.

Over the past 25 years, we have developed a network of banking experts that today includes the best in New Zealand, and we want to put that network of experts at your disposal to make the process of opening your personal or business bank account as smooth as possible.

Our New Zealand partners work with the longest established commercial and retail banks in this majestic jurisdiction, so we can help you with any of your needs, whether it's opening a bank account for you or your business.

If you would like to take advantage of our special offer to open a New Zealand bank account at a promotional price, please do not hesitate to write to us and meet our experts who will help you along the way!