New Zealand consistently ranks among the top countries in the ‘Ease of Doing Business’ report often attaining the number one position, as well as achieving impressive reports in the Transparency International Corruption Index, Human Development Index and the Index of Economic Freedom, demonstrating the clear positive attractions associated with doing business in New Zealand.
New Zealand’s economy is strong and has proven stable, operating along free market principles after the introduction of ‘Rogernomics’. Heavily dependent on international trade, its main partners are Australia, China, the United States and Japan. While international tourism has become a major economic contributor, the traditional exports of meat, dairy and wool have now been overtaken by other products including fruit, wine, timber and filmmaking – reflecting the diversification of the economy.
Global businesses are attracted to doing business in New Zealand on account of the efficient monetary and fiscal incentives that the government has brought in, such as free trade agreements and pro-competitive regulation. There is no payroll tax to pay, nor social security tax and the rest of the tax system is fairly simple to understand.
Whilst the risks of doing business in New Zealand are minimal there are still a few challenges to factor in when doing business here. The World Business culture website has the information to aid a smooth transition into New Zealand with regards to the legal and financial systems, as well as cultural aspects.