GSL / Offshore and International Law / Offshore zones / Australia & Oceania / Norfolk Island / Legislation of Norfolk Island

Legislation of Norfolk Island

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List of laws and regulations

Act name
Scope of law
general issues
gaming supervision
иinteractive gambling
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List of state regulatory authorities

Norfolk Island Government
Norfolk Island Gaming Authority
Norfolk Island Freedom of Information Website
Norfolk Island Government Tourist Bureau

Corporate info

Legal system
English common law and the laws of Australia
Types of entity
company limited by guarantee; company limited by shares; company limited both by shares and by guarantee; unlimited company
Shelf companies permitted
Yes
Incorporation timescale for a new company
5 days
Company suffix
Limited or Ltd.
Sensitive words
identical or too similar names; undesirable names; names that are suggesting connection with Government or Royal family
Cyrillic alphabet permitted in company name
No
Local registered office
Yes
Local registered agent
Yes
Information to be kept at the registered office
register of shareholders; register of directors, etc.
Seal required, type of seal
yes, common seal
Redomiciliation (to, from) permitted
permitted

Director and secretary

Minimum number of directors
2
Residency requirements for directors
No
Corporate directors permitted
Yes
Directors’ meetings/frequency/location
Yes / annually / anywhere
Disclosure to local agent
Yes
Disclosure to public
Yes
Company secretary required
Yes
Residency requirements for a secretary
Yes
Qualified secretary required
No
Corporate secretary permitted
No

Shareholder and beneficiary

Minimum number of shareholders
2
Residency requirements for shareholders
No
Corporate shareholder permitted
Yes
Meetings/frequency/location
Yes / annually / anywhere
Disclosure to local agent
Yes
Disclosure to public
Yes
Beneficiary info disclosure to
Yes

Shares and share capital

Minimum authorized share capital
2 shares
Minimum issued share capital
2 shares
Minimum paid share capital
2 shares
Authorized capital payment deadlines
28 days
Issued capital payment deadlines
28 days
Standard currency
AUD
Standard authorized share capital
10000
Standard par value of shares
1
Shares with no par value permitted
No
Bearer shares permitted
No

Taxes

Personal tax
No
Min. rate for corporate tax
No
Corporate tax (in detail)
There is corporate income tax in Norfolk.
Capital gains tax
No
Capital gains tax. Details
There is corporate income tax in Norfolk.
VAT
12%
VAT. Details
Registered persons must lodge monthly GST returns with the Chief Revenue Officer at the GST Office and pay a 12% GST on the gross revenue amount collected for that month’s transactions, less any input tax credits, when lodging the GST return.
Withholding tax
No
Other taxes
Customs Import Duty; Business Transactions Levy
Exchange control
No
Government fee
$215
Stamp duty
No

Accounts

Requirement to prepare accounts
Yes
Requirement to file accounts
Yes
Publicly accessible accounts
Yes
Requirement to file Annual Return
Yes
Publicly accessible Annual Return
Yes
Audit required
Yes

General information shortly

Location
in the Pacific Ocean between Australia, New Zealand and New Caledonia
Total area
34.6 sq.km
Population
860.000 (2019)
Capital
Kingston
National currency
Australian dollar
Conditional reduction of currency
AUD
Against USD
0,71 (2022)
Climate, average max and min t°
marine subtropical; temperature almost never falls below 10°С or rises above 26°С.
Time difference from Moscow
+ 7 hours
Dialing code
+672
State language
English and Norf'k
Ethnic groups
Most islanders are of either European-only (mostly British) or combined European–Tahitian ancestry
Literacy rate
No data
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.
Credit rating
Government type
self-governing territory
Executive branch
Executive Council: Chief Minister and other ministers
Legislative branch
Legislative Assembly (9 seats)
Judicial branch
Supreme Court of Norfolk Island
Unemployment
No data
GDP per capita rank
No data
Corruption perceptions index rank
No data

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