I Just Registered a Company in NZ - What Happens Next?

Your company is registered. Now the real work starts.

The Companies Register has your entry live. You have a company number, a constitution, and a director certificate. But there are a dozen things to set up in the next 30 days, and missing any of them can create problems down the line.

This guide covers the practical steps in order of urgency, plus the professionals who can help at each stage.

Week 1: Tax and IRD setup

Your first priority is Inland Revenue. Every NZ company needs an IRD number, and you cannot pay staff, file returns, or open most business bank accounts without one. Apply online at the IRD website - approval usually takes 8-10 working days for New Zealand residents.

Once you have your IRD number, consider whether you need to register for GST immediately. If you expect to earn more than NZ$60,000 in your first 12 months, registration is compulsory. Even if you are under the threshold, voluntary registration can be worthwhile if you have significant startup costs to claim back. An accountant can model both scenarios for your specific situation in about 15 minutes.

Week 1-2: Business bank account

Open a dedicated business bank account as early as possible. Running business income and expenses through your personal account creates an accounting and tax nightmare. Most major NZ banks (ANZ, BNZ, ASB, Westpac, Kiwibank) can open a business account within a few days with your certificate of incorporation and company number. Some banks offer fee-free periods for new companies - worth asking about when you apply.

Week 2: ACC levies

The Accident Compensation Corporation covers work-related injuries in New Zealand, but as a company director or self-employed person you need to register separately. ACC will assess your levy based on your income and the type of work your company does. For most service-based businesses the levy is modest, but for trades or construction businesses it can be significant. Budget for it before it arrives.

Week 2-3: Employment setup if you are hiring

If you are taking on staff from day one, you need to register as an employer with IRD, set up a payroll system, understand your KiwiSaver obligations, and issue employment agreements that meet the Employment Relations Act requirements. Employment law mistakes are expensive - this is one area where professional help pays for itself quickly.

Week 3-4: Industry-specific licences and registrations

Many industries in New Zealand require specific licences or registrations before you can trade. Financial advice, building work, food handling, alcohol, real estate, and health services are just a few examples. Check the requirements for your industry early - some licences take months to process.

The professionals who help most in the first 30 days

Most new company directors benefit from connecting with at least one of the following in their first month:

• Accountant or bookkeeper: GST, IRD setup, chart of accounts, invoicing software. An accountant who works with new NZ companies will have seen every common startup mistake and can save you far more than their fee.
• Business advisor or coach: If you have never run a company before, a mentor or advisor who has started businesses in NZ can help you avoid costly detours.
• Insurance broker: Business liability, professional indemnity, and business interruption insurance. What you need depends heavily on your industry and risk profile.
• Lawyer: Shareholders agreements (especially if you have co-founders), employment contracts, and terms of trade all benefit from a legal review early.

Connect with the right professional

FreshFirms Connect matches newly-registered NZ companies with accountants, business advisors, insurance brokers, and other service providers who work specifically with new companies in your region. Tell us what kind of help you need and we will connect you with a professional who can help this week.

Connect with a professional now