What to Do After Registering a Company in New Zealand: A Practical Checklist
Registering a company on the NZ Companies Register is just the beginning. Here are the practical steps every new director needs to take in the first 60 days.
Your company is registered. Now what?
Getting your NZ limited liability company registered on the Companies Register is the starting point, not the finish line. Many new directors are surprised to discover that registration is just the administrative beginning. There are a series of legal, financial, and practical steps that need to happen before you can properly start trading.
This checklist covers the most important things to do in your first 60 days, roughly in order of priority.
1. Register for tax and GST with Inland Revenue (IRD)
Your company needs an IRD number separate from your personal IRD number. Apply online through the IRD website. This takes a few days and is required before you can register for GST, employ staff, or file business taxes.
GST registration is compulsory once your annual turnover exceeds NZ$60,000. You can register voluntarily before reaching that threshold, which is often worthwhile because it allows you to claim GST back on purchases from day one. Many new companies register for GST immediately.
2. Open a dedicated business bank account
Most banks allow you to open a business account for a registered company with your certificate of incorporation and IRD number. Keep business finances completely separate from personal. Mixing them creates accounting problems that take months to untangle and can complicate any future shareholder or tax discussions.
3. Set up your accounting software
Xero is the dominant accounting platform in New Zealand and integrates with most NZ banks for automated bank feeds. Setting it up from your first transaction, rather than catching up after six months, saves a significant amount of time at year-end. Your accountant will likely prefer you are already on Xero or MYOB.
4. Get an accountant
If you do not already have one, finding a good accountant early is one of the most valuable things you can do. They can advise on company structure, help you register for GST and PAYE, set up your chart of accounts, and flag provisional tax obligations before they become a surprise.
Look for an accountant who works regularly with new companies and small businesses, not just established firms. Ask specifically about their experience with new NZ company setup. If you need a recommendation, FreshFirms Connect can match you with NZ accountants in your region who specialise in new companies.
5. Sort out business insurance
The minimum you should consider: public liability insurance (required by most commercial leases and client contracts), professional indemnity insurance (if you provide advice or services), and employer liability insurance if you have staff. Your commercial lease may specify minimum levels of cover. Get quotes from at least two brokers.
6. Register as an employer (if you have staff)
If you employ anyone, even casually, you need to register for PAYE with Inland Revenue and set up a payroll system. There are minimum wage, holiday, and leave obligations under the Employment Relations Act that apply from the first employment agreement, even if it is informal. Do not delay sorting out your employer obligations.
7. Confirm your company address and contact details
The Companies Register requires an up-to-date registered office address and a director address. These are public. Make sure they are correct and that you actually receive mail at the registered office. Many new directors use their accountant's address as the registered office, which is common practice.
8. Get your website and professional email set up
You do not need a complex website immediately, but having a domain email address rather than a gmail.com address matters for professional credibility from the first client conversation. A one-page website explaining what you do and how to contact you is enough to start.
When to seek professional help
Most new company directors benefit from a one-hour conversation with an accountant and possibly a lawyer in the first month. The cost of good early advice is almost always less than the cost of fixing errors made in the first year.
If you are looking for an accountant, bookkeeper, insurance broker, or other professional to help set up your new NZ company, FreshFirms Connect can match you with service providers in your region who work with new businesses. Submit your details and we will put you in touch with the right people.