TBA
New Zealand
Financial Services Provider
TBA & Associates is an industry leader for the application and acquisition of financial licenses, Crypto, PSP, EMI, Forex and Asset Management areas. Unlike many incorporators, TBA has developed legal solutions, tailored to the needs of the financial sector. We can guarantee that all our partners and associates fully comply with all requirements for a professional, successful and fast work. Start your business in New Zealand now – a class 1 regulated jurisdiction!
In New Zealand, the Financial Service Provider (FSP) is a broad registration required for businesses or individuals offering financial services in the country. The Financial Service Providers Register (FSPR) is a public register maintained by the Companies Office that lists all FSPs who are either registered or licensed to provide financial services.
Key Points about the FSP Register
What is the FSPR
- The FSPR is an official register where financial service providers are listed once they meet certain legal requirements.
- It is an important tool for consumers, as it allows them to verify whether the financial service provider they are dealing with is registered and regulated.
Who Needs to Register
Any business or individual providing financial services in New Zealand must be registered on the FSPR. This includes
a wide range of financial services such as:
- Investment services (e.g., brokers, fund managers)
- Insurance services (e.g., brokers, underwriters)
- Financial advice (e.g., financial advisers, planners)
- Banking services (e.g., non-bank deposit takers)
Key Requirements for Registration:
- Eligibility: The entity must be a legitimate provider of financial services (this includes both individual practitioners and organizations).
- Compliance with Law: Providers must comply with the applicable laws and regulations governing their services, including the Financial Markets Conduct Act 2013 (FMCA) and other relevant legislation.
- Fit and Proper Test: Providers must pass a fit and proper person test, which includes considerations of honesty, integrity, and financial solvency.
- Disclosure: They are required to comply with disclosure obligations, such as providing clients with clear, truthful information about services and fees.
- Ongoing Compliance: FSPs must ensure ongoing compliance with all financial services laws, including maintaining appropriate internal processes and controls.
The Role of the FMA in FSP Registration
While the Companies Office administers the FSPR, the FMA oversees the regulatory framework for financial services in New Zealand. It works with the Companies Office to ensure that the financial services industry adheres to the standards required by law.
- The FMA has the authority to investigate complaints, take enforcement actions against non-compliant providers, and revoke licenses if necessary.
- The FMA also provides guidance on conduct and compliance for different types of FSPs.
How to Register as an FSP
The process of registering as an FSP is relatively straightforward but requires understanding the specific obligations based on the type of service being provided.
The process of registering as an FSP is relatively straightforward but requires understanding the specific obligations based on the type of service being provided.
- Create an Account: First, the entity needs to create an account on the Companies Office website.
- Complete the Registration: You will need to provide detailed information about your business, including its legal structure (e.g., sole trader, company), contact details, and services offered.
- Compliance and Due Diligence: You may be required to submit evidence that your business complies with the relevant laws and regulations, such as financial advice licensing or meeting minimum capital requirements for financial institutions.
- Pay Fees: A registration fee may apply, though this varies depending on the category of financial service provider.
- Ongoing Reporting: Registered FSPs are required to update their registration regularly (usually annually) and inform the Companies Office of any changes in business activities.
Advantages to get FSP licensed in New Zealand
Being FSP (Financial Service Provider) licensed in New Zealand comes with several advantages—both for credibility and for access to the local and international financial markets. Here’s a detailed breakdown of the key advantages:
1. Global Credibility & Reputation
New Zealand is a highly respected, well-regulated jurisdiction known for transparency, political stability, and a strong legal system.
Being registered or licensed under the FSP (Financial Service Providers Register) signals to investors and clients that your business meets NZ’s compliance standards.
This can help attract international clients, especially from regions like Asia and the Pacific.
2. Regulatory Legitimacy
An FSP registration gives your business legal authority to provide financial services in or from New Zealand.
It allows you to operate under the Financial Markets Conduct Act (FMCA) and other regulatory frameworks, ensuring your activities are recognized by authorities.
3. Client Trust and Marketing Benefits
Displaying an FSP number and being searchable on the official FSPR register builds trust with clients, as they can verify your business credentials easily.
This improves your brand credibility when dealing with investors, brokers, and financial institutions.
4. Access to Banking & Payment Facilities
Banks and payment processors are more likely to work with an FSP-registered or licensed company because it demonstrates compliance and oversight.
This facilitates smoother access to merchant accounts, multi-currency banking, and payment gateways.
5. Operational Flexibility
Depending on the class of license, an FSP can engage in multiple types of services—such as financial advice, derivatives trading, FX, or funds management.
You can also operate globally, as NZ allows international service provision (subject to local laws in the target markets).
6. Regulatory Oversight (and Its Benefits)
Being regulated by the Financial Markets Authority (FMA) enhances your firm’s governance, compliance systems, and anti-money-laundering (AML) practices.
This makes your firm more resilient and credible in the eyes of investors, regulators, and counterparties.
7. Potential for International Expansion
New Zealand FSP status can serve as a gateway license when applying for authorization in other jurisdictions, as many regulators recognize NZ’s compliance standards.
It also assists with passporting or partnership opportunities in Asia-Pacific markets.
8. Tax and Business Environment Advantages
New Zealand offers a business-friendly environment, efficient company registration, and transparent tax systems.
There’s no capital gains tax in most cases, and corporate taxes are competitive compared to other developed nations.
9. Reputation Compared to Offshore Jurisdictions
Unlike “offshore” registrations (e.g., Seychelles, BVI), an NZ FSP license carries substantially more weight with regulators, banks, and clients due to NZ’s OECD membership and robust compliance expectations.
FSP Registration
Key requirements to obtain and keep a NZ FSP
The main terms and requirements to obtain and maintain registration as a Financial Service Provider (FSP) in New Zealand under the Financial Service Providers (Registration and Dispute Resolution) Act 2008 (“FSP Act”) and related regulation. Depending on the services you provide, additional licensing or certification may apply (e.g., via the Financial Markets Authority (FMA) or the Commerce Commission)
Key Requirements for Registration
- If you provide a “financial service” to persons in NZ, and you expect to meet the business threshold (see below), you must register on the FSPR.
- If you are a reporting entity under the Anti Money Laundering and Countering Financing of Terrorism Act 2009 (AML/CFT Act) and provide financial services.
- If you offer services that require licensing under other legislation (e.g., via FMA).
- Some exemptions apply (for example, if you provide purely wholesale services, or offshore and don’t target NZ clients).
Who must register
Minimum business threshold
When you register you must declare you expect to provide financial services to NZ-resident clients above the minimum threshold:
- At least 10 NZ-resident financial services clients, AND
- At least NZ$10,000 of financial services transactions in total with NZ-resident clients.
- Within the first 6 months after registration you must have achieved at least half of that: e.g., 5 clients and NZ$5,000 of transactions.
Application / registration process
- You must gather required information: legal name, trading names, business address, contact address, details of the services you’ll provide (which services, retail versus wholesale).
- For an entity: you must provide details of directors, controlling owners, senior managers (names, DOB, residential address) if applicable.
- Criminal history checks may be required.
- If you provide services to retail clients, you must be a member of an approved dispute-resolution scheme (DRS).
- Fees: e.g., for individuals, application fee NZ$300 + FMA levy NZ$600 + criminal check fee ~NZ$11.30 (plus GST) as of current guide.
Registered overseas / foreign entities
- If you provide financial services into NZ (or to NZ residents) from offshore, you may still need to register.
- If you are offshore and provide only to wholesale clients in NZ, and don’t have a place of business in NZ, you may be exempt.
What registration does not mean
- Being registered on the FSPR does not automatically mean you are licensed or regulated in respect of those services. It simply means you are registered.
Ongoing / Maintenance Requirements
Once registered, you must meet ongoing obligations:
- File an annual confirmation in the filing month you choose (or accepted) when registering.
- Keep your registration details up to date: if your business address, services offered, directors or controlling owners change, you must update your information. (For example see entity guide requiring you to confirm directors etc.)
- If you provide services to retail clients, maintain membership in an approved dispute-resolution scheme and notify membership details within 10 working days of registering.
- If you are a reporting entity under AML/CFT, comply with AML/CFT obligations.
- If your services require licensing (via FMA, etc), you must ensure you meet those licensing obligations (which may include additional capital, governance, fitness & propriety, etc).
Licensing / Additional Regulatory Requirements
Depending on the nature of the financial services you provide, registration on FSPR is only part of the picture — you may also need a license or certification, for example:
- Under the Financial Markets Conduct Act 2013 (FMC Act), if you provide investment management, issue derivatives, run crowdfunding, peer-to-peer lending, or manage investment schemes, you will need a licence from FMA.
- For consumer credit providers or mobile traders selling on credit, you need “fit and proper person” certification from the Commerce Commission.
- For banks, insurers, non-bank deposit takers (NBDTs) – licensing/registration via the Reserve Bank of New Zealand (RBNZ).
