Company Registration in Norfolk Island - Business Starting & Setup

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Service packages
Express
Standard
Optimum
Company registration
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Legal address per year
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Secretarial services for the first year
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Fees and duties for the first year
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Apostilled bound set of incorporation documents
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Compliance fee
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Nominee service per year
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Bank Account Pre-approval
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Price
6 000 USD

6 000 USD

6 500 USD

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Core Services

— Incorporation

Price6 000 USD

(including incorporation tax and state registry fee)

— Annual government fees

Priceincluded

(Stamp Duty) and Companies House incorporation fee

— Corporate legal services

Price5 000 USD

(including registered address and registered agent)

—Delivery of documents by courier mail

Price150 USD

DHL or TNT, at cost of a Courier Service

— Apostilled set of Statutory documents

Price500 USD

Basic set of documents

Reservation of Name Application

Memorandum and Artcles of Association

Notice on Registered Office

Director Consent

Persons consented to be Directors

Consents

Director Register

Return of Allotment of Shares

Verification of Documents

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    Nominee Director

    Paid-up “nominee director” set includes the following documents

    Nominee Shareholder

    Paid-up “nominee shareholder” set includes the following documents

    Compliance fee

    Basic

    Price250 USD

    For legal entity in structure under GSL administration

    Price50 USD

    For legal entity in structure not under GSL administration

    Price100 USD

    For client with high risk Status

    Price350 USD

    General Info

    Norfolk Island is a small island in the Pacific Ocean located between Australia, New Zealand and New Caledonia. The island is part of the Commonwealth of Australia, but it enjoys a large degree of self-governance.

    Although Norfolk is not officially considered an offshore zone, Norfolk Island currently does not have a number of taxes such as those found in Australia and New Zealand, including payroll tax, company tax, income tax, land rates, fringe benefit tax, capital gains tax or land and property tax.

    Total area of the island is 34.6 sq. km. The population is 1.748 people (2016). Most islanders are of either European-only (mostly British) or combined European–Tahitian ancestry. Capital is Kingston.

    The official languages are English and Norf’k.

    The currency is Australian Dollar (AUD). 1 USD is equal to 1.41 AUD.

    Climate of Norfolk is marine subtropical. The temperature almost never falls below 10°С or rises above 26°С.

    Time difference with Moscow is +7.5 hours.

    Calling code is +672.

    History

    The history of Norfolk Island dates back to the fourteenth or fifteenth century when it was settled by Polynesian seafarers. The first European known to have sighted the island was Captain James Cook, in 1774. In 1786 the British government included Norfolk Island as an auxiliary settlement in the plan for colonization of New South Wales. The decision to settle Norfolk Island was taken due to Empress Catherine II of Russia's decision to restrict sales of hemp. Practically all the hemp and flax required by the Royal Navy for cordage and sailcloth was imported from Russia. Norfolk Island was a colony of the British Empire ruled by an appointed Governor appointed by the British Crown. As early as 1794, it was suggested to close the island as a penal settlement, as it was too remote and difficult for shipping and too costly to maintain. As a result, the island was abandoned. In 1856, the next settlement began on Norfolk Island. After the creation of the Commonwealth of Australia in 1901, Norfolk Island was placed under the authority of the new Commonwealth government to be administered as an external territory. In 1979, Norfolk was granted limited self-government by Australia, under which the island elects a government that runs most of the island's affairs. As such, residents of Norfolk Island are not represented in the Commonwealth Parliament of Australia, making them the only group of residents of an Australian state or territory not represented there.

    Government Type

    Norfolk Island is an Australian self-governing territory.

    The Australian government maintains authority on the island through an Administrator who is appointed by Governor-General for a 2-year term.

    Legislative power is formed by the Legislative Assembly which consists of 9 member and is elected by popular vote for a term of not more than three years, although legislation passed by the Australian Parliament can extend its laws to the territory at will, including the power to override any laws made by the Norfolk Island Legislative Assembly.

    Executive power is in the hands of the Executive Council, which devises policy and acts as an advisory body to the Administrator. Executive Council consists of Chief Minister, Minister for Tourism, Industry and Development; Minister for Finance; Minister for Cultural Heritage and Community Services; and Minister for Environment.

    Judiciary branch is represented by Supreme Court of Norfolk Island.

    As a territory of Australia, Norfolk Island does not have diplomatic representation abroad, or within the territory, and is also not a participant in any international organizations, other than sporting organizations.

    Economy

    Tourism, the primary economic activity, has steadily increased over the years. As Norfolk Island prohibits the importation of fresh fruit and vegetables, most produce is grown locally. Beef is both produced locally and imported. The island has one winery.

    Norfolk islanders do not pay Australian federal taxes, there is no income tax. Legislative Assembly levies import duties, fuel duties, and phone call tax.

    The Australian government controls the exclusive economic zone (EEZ) extending 200 nautical miles (370 km) around Norfolk Island and territorial sea claims to three nautical miles (6 km) from the island. The exclusive economic zone provides the islanders with fish, its only major natural resource. Norfolk Island has no direct control over any marine areas but has an agreement with the Commonwealth through the Australian Fisheries Management Authority (AFMA) to fish "recreationally" in a small section of the EEZ known locally as "the Box".

    Corporate information

    Legal System

    Legal system of Norfolk Island is based on English common law and the laws of Australia.

    Norfolk is governed under the provisions of the Norfolk Island Act 1979.

    Norfolk Island has its own corporation’s legislation under the Companies Act 1985 (NI).

    Types of entity

    The principal forms of business organization in Norfolk Island are:

    • company limited by guarantee;
    • company limited by shares;
    • company limited both by shares and by guarantee;
    • unlimited company/.

    The most common structure is company limited by shares.

    Registration

    Company name

    There is a range of requirements to the company name in Norfolk:

    1. A limited company shall have the word “Limited” or the abbreviation “Ltd.” as part of and at the end of its name.
    2. A company name should not be identical or too similar with the already registered name.
    3. A company name should not be, in the opinion of the Registrar, undesirable.
    4. A name that suggests connection with Government, Royal family, Crown, Commonwealth of Nations, etc.

    Registration

    The following steps are required to incorporate a company in Norfolk:

    1. Reserve a company name: A company name can be reserved for 3 months.
    2. Submit the memorandum and the articles of the proposed company with the Registrar: The memorandum shall state, in addition to other requirements, such of the following as are relevant to the company: company name, the amount of share capital, the full names, addresses and occupations of the subscribers to the memorandum being natural persons, and the corporate names, and the addresses of the registered or principal offices, of the subscribers to the memorandum being corporations.
    3. Obtain Norfolk Business Number (NBN): Persons conducting business on Norfolk Island are required to register with the GST Office and obtain a Norfolk Business Number or NBN and must quote that number in business documents to comply with the Goods and Services Tax Act 2007 (NI).

    Upon registration, Companies Registrar issues Certificate of Incorporation.

    Local Registered Office

    A Norfolk company shall, from and including the day of its incorporation under this Act, have a registered office in Norfolk Island. The office shall be situated in a building and shall be open and accessible to the public. Notice of a change in the situation of the registered office of a company shall be lodged by the company with the Registrar not later than 7 days after the day on which the change occurs.

    All kinds of registers, including register of members, register of directors, etc. should be kept at the registered office. If the company arranges with some other person to make up the register on its behalf and the office of that other person at which the work is done is in Norfolk Island, it may be kept at that office; or, if the Registrar approves, it may be kept at some other place in Norfolk Island.

    Seal

    A Norfolk company should have a common seal with a company name in legible characters.

    A company may, if so authorized by its articles, have for use outside Norfolk Island in place of its common seal one or more official seals, each of which shall be a facsimile of the common seal of the company with the addition on its face of the name of each place where it is to be used.

    Redomicile

    The redomiciliation of companies to or from Norfolk is permitted.

    Company structure

    Directors

    A Norfolk company limited by shares shall have at least 2 directors, at least one director should be a natural person. There are no residency requirements.

    Directors’ details appear on public profile. Nominee directors are allowed.

    Directors’ meeting should take place annually in Norfolk or in any other place.

    Secretary

    A company shall have at least one secretary. A secretary of a company shall be appointed by the directors. A person is not capable of being a secretary of a company unless the person is a natural person who has attained the age of 18 years. The secretary, or one of the secretaries, shall be a person who ordinarily resides in Norfolk Island. A secretary who ordinarily resides in Norfolk Island shall be present at the registered office of the company in person or by his agent on the days and during the hours when the registered office is required to be open and accessible to the public.

    Shareholders

    A Norfolk company should have at least two shareholders. Shareholders can be natural persons or bodies corporate. There are no residency requirements.

    A company shall keep a register of its members and enter in that register the names and addresses of the members and a statement of the shares held by each member. Shareholders’ register is publicly accessible.

    A company shall hold annual general meeting at least once in every calendar year and within the period of 5 months after the end of that financial year. A company may hold its first annual general meeting at any time within the period of 18 months after its incorporation.

    Beneficiary

    The details of the beneficial owner are available on public record.

    Share capital and shares

    Minimum share capital is 2 ordinary shares. Standard par value of shares is 1 AUD. Standard amount of authorized capital is 10.000 AUD. The payment deadline of authorized and issued capital is 28 days.

    Bearer shares and shares with nor par are prohibited.

    Gambling

    Online Gambling

    Online Gambling in Norfolk Island started in 1998 with the Gaming Supervision Act 1998. The act established the Norfolk Island Gaming Authority as an independent statutory authority which has the power to regulate and enforce the Norfolk Island's gaming and licensing legislation.

    The Authority's principal functions include the approval and regulation of gaming and bookmaking operations. Interactive gaming license and Bookmakers gaming license are the two types of licenses issued by the Norfolk Island gaming Authority. The authority limits its gaming licenses and does not issue multiple gaming licenses. Interactive gaming refers to the casino type of games while the bookmakers gaming refers to the event betting, racing and sports.

    The regulations of the Norfolk Island Gaming Authority are similar to that of Australia's gaming authority.

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