Business can be complicated but it doesn’t have to be.  We have helped thousands of clients and know about the key legal areas that will affect you and have just released our fully revised and updated “Doing Business in New Zealand” free handbook.  You can download it here.

New Zealand consistently ranks as one of the most business-friendly nations in the world. Given this appealing status and the interest we receive both from local and international investors, as well as form businesses and entrepreneurs, we produced the “Doing Business in New Zealand” handbook a few years ago and now have fully updated it.  It is intended to introduce and provide information for those who may be unfamiliar with how business is done here. The handbook provides introduction on business structures, investment rules, employment, disputes, property, intellectual property, immigration, privacy and social enterprise, just to name a few examples.

If you have further enquires please contact Steven Moe at stevenmoe@parryfield.com or on 021 761 292 or Kris Morrison at krismorrison@parryfield.com.

Be sure to check out our other free guides too, such as Startups: Legal Toolkit and Social Enterprises in New Zealand: A Legal Handbook.  We also provide free templates for resolutions, Non Disclosure Agreements and other resources on our site as well as many articles on key topics you should know about.

Parry Field are now registered as a Service Provider under the Regional Business Partner Network. If you are looking to grow your business but require some support, you may qualify for vouchers to help pay for services, as Parry Field are able to provide legal support in the following categories:

Business Planning: We can provide training for Directors of businesses who are looking at their plans and considering what changes they might need to put in place or those who are looking to start a business and are planning the first steps they need to take when it comes to legal structures.

Capital Raising: Growing your business is important and we can provide training around how business owners can raise funding for their venture, covering topics such as types of investors, due diligence processes, Financial Market Authority rules and documentation often needed, such as share Sale and Purchase Agreements and Shareholder Agreements.

Governance: It is important that you have all the right practices, processes and policies in place in order to guide your business in the right direction. Therefore, it is important to know and understand how to run a business, as well as the legal obligations that are associated with it. We can provide you with the knowledge of different legal structures that will assist you in deciding the best structure for the business based on what stage it is at. We will also assist with director duties, governance documents, explain how these work and the importance of having the right documents in place.

If you would like to know more, please contact the Regional Business Partner Network www.regionalbusinesspartners.co.nz

There have been some recent changes which will positively impact smaller/medium sized companies which have – or would like to have – a large number of shareholders.  The Takeovers Code protects the rights of shareholders.  It does this by regulating events and transactions that will affect the voting rights attached to their shares. While this Code used to apply to small unlisted companies, the Regulatory Systems (Economic Development) Amendment Act (No 2) 2018 has created a narrower definition of a “code company”. Now, a code company is a business that is listed on the stock exchange or:

  • has 50 or more shareholders and 50 or more share parcels; and
  • is at least medium sized.

The key point here is that a medium sized company is one with at least $30 million in total assets (including the assets of any subsidiaries) or has a total revenue of at least $15 million when assessing the business’ two most recent accounting periods.   This lifts the burden off start-ups and SMEs, allowing them the flexibility to manage their business and raise capital without regulatory interference.

We have had clients in the past who have had to consider how they will comply with the Takeovers Code when raising funds that means the number of shareholders go above 50 – this change will be welcome for such businesses.

If you’d like to learn more you can contact Kris Morrison (krismorrison@parryfield.com) or Steven Moe (stevenmoe@parryfield.com) on 03 348 8480.