The bankrupt or company directors will be asked for information to help identify and deal with the assets. The money recovered is paid to creditors who have made a claim, in order according to the relevant Acts. Creditors can log in to the Insolvency and Trustee Service website to track the progress of their claim and how long it is likely to take. Despite a high recovery rate The government has recognized the need for more insolvency law reform beyond the Act which repealed the Insolvency Act The Regulatory Systems Economic Development Amendment Act which passed in November included amendments to the Insolvency Act that strengthened some regulations and assigned more powers to the Official Assignee.
The current government plans to introduce an insolvency law reform bill in early New Zealand has no specific economic incentive regime because of its free trade policy. The New Zealand government, through its bodies such as Tourism New Zealand and NZTE, assists certain sectors such as tourism and the export of locally manufactured goods.
The government generally does not have a practice of jointly financing foreign direct investment projects. Established in , the New Zealand Screen Production Grant provides rebates for international productions of 20 percent on specified goods and services purchased in New Zealand. An additional five percent is available for productions that meet a significant economic benefit points test for New Zealand.
Callaghan Innovation is a stand-alone Crown Entity established in February It connects businesses with research organizations offering services, and the opportunity to apply for government funding and grants that support business innovation and capability building. Callaghan Innovation requires businesses applying for any of their research and development grants to have at least one director who is resident in New Zealand and to have been incorporated in New Zealand, have a center of management in New Zealand, or have a head office in New Zealand.
The government does not have a state policy on issuing guarantees on foreign direct investment projects. There are no government mandated requirements for company performance or local employment, and foreign investors that do not require OIO approval are treated equally with domestic investors.
Overseas investors that require OIO approval must comply with legal obligations governing the OIO and the conditions of its approval including: satisfying the benefit to New Zealand test through local employment, using domestic content in goods, or promising the introduction of a new technology to New Zealand. Investors are generally required to report annually to the OIO for up to five years following approval, but if benefits are expected to occur after that five-year period, monitoring will reflect the time span within which benefits will occur.
A government-commissioned independent review in found the good character test to be robust after questions were asked whether it was being used consistently and accurately. These conditions include providing evidence the business is up and running, have the support of NZTE, and provide a letter from the business CEO.
Immigration New Zealand may grant temporary work visas to key employees to get the business established and resident visas once the business is operating. Applicants must provide evidence the business is up and running, such as a certificate of incorporation, tax records, and documents showing a business site has been purchased or leased.
Immigration New Zealand also considers if the relocation benefits New Zealand, if the business is trading profitably or has the potential to do so in the next 12 months , and contributing to economic growth by, for example introducing new technology, management or technical skills; enhancing existing technology, management or technical skills; introducing new products or services; enhancing existing products or services; creating new export markets; expanding existing export markets; creating at least one full-time job for a New Zealander.
Visa holders can bring family, and after meeting conditions of the visa may be eligible to live and work in New Zealand indefinitely. New Zealand supports the ability to transfer data across borders, and to not force businesses to store their data within any particular jurisdiction.
Alternatively, taxpayers can use an IRD authorized third party to store their information without having to seek individual approval. Another provision requires CPTPP countries not to impede companies delivering cloud computing and data storage services. The agreement is an open plurilateral one that allows other countries to join the agreement as a whole, select specific modules to join, or replicate the modules in other trade agreements.
The Customs and Excise Act allows customers who are required to keep Customs-related records to apply to Customs New Zealand, to store their business records outside of New Zealand. Under the repealed Act it was an offence for businesses to not store physical records in New Zealand or their electronic records with a New Zealand-based cloud storage provider.
Under the Act, a business can apply for permission to keep their Customs-related business records outside New Zealand, including in a cloud storage facility that is not based in New Zealand. Businesses denied permission must still be required to store business records in New Zealand, including with New Zealand-based cloud providers.
In March , the government introduced the Privacy Bill to repeal and replace the Privacy Act The bill which passed its second reading in August , aims to strengthen the protection of confidential and personal information and modernize privacy regulations. In its current form, the Bill would apply to all actions by a New Zealand agency regardless of where that agency is located, and would apply to all personal information collected or held by a New Zealand agency regardless of where that information is collected or held, or where the relevant individual is located.
Additionally, it will apply regardless of whether that agency charges monetary payment or makes a profit from its business in New Zealand. The intent is to ensure that global businesses doing business in New Zealand, irrespective of where the individual or the agency is located, comply with the new Privacy Act. For most businesses, the most notable change in the new Act will be the introduction of a requirement to report serious privacy breaches.
Notifiable privacy breaches will require organizations to notify the Privacy Commissioner and any affected individuals if there is a breach that has caused serious harm or poses a risk of causing someone serious harm. In March , an amendment to the bill was proposed to all the new legislation apply from November 1, Such mandatory demands as mentioned are legal obligations that must be complied with and are made under a search warrant.
The Privacy Act permits disclosure in such a case. The organization can only disclose the information requested and any excess information provided will be in breach of the Privacy Act unless it is able to be provided as part of a voluntary request. New Zealand does not have any requirements for foreign information technology IT providers to turn over source code or provide access to encryption.
There may be obligations on individuals to assist authorities under Section of the Search and Surveillance Act An agency with search authority in terms of data held in a computer system or other data storage device may require a specified person to provide access information that is reasonable to allow the agency exercising the search power to access that data.
This could include a requirement that they decrypt information which is necessary to access a particular device. The search power cannot be used to require the specified person to give information intending to incriminate them. Failure to assist a person exercising a search power under section 1 , without reasonable excuse, is a criminal offence punishable with imprisonment for up to three months. There is not a particular government agency that enforces all privacy law, however the Office of the Privacy Commissioner is empowered through the Privacy Act and has a wide ability to consider developments or actions that affect personal privacy.
Separately, New Zealand courts have developed a privacy tort allowing individuals to sue another for breach of privacy. New Zealand recognizes and enforces secured interest in property, both movable and real. These provisions set forth the issuance of land titles, the registration of interest in land against land titles, and guarantee of title by the State. The Registrar-General of Land develops standards and sets an assurance program for the land rights registration system. The Land Transfer Act repealed law from but maintains the Torrens system of land title in which land ownership is transferred through registration of title instead of deeds, a system which has been in operation in New Zealand since the nineteenth century.
The Act aims to improve the certainty of property rights, modernize, simplify and consolidate land transfer legislation. Land leasing by foreign or non-resident investors is governed by the OIO Act. About eight percent of New Zealand land is owned by the Crown.
The Land Act created pastoral leases which run for 33 years and can be continually renewed. Rent is reviewed every 11 years, basing the rent on how much stock the land can carry for pastoral farming. The Crown Pastoral Land Act and its amendments contain provisions governing pastoral leases that apply to foreign and domestic lease holders. Holders of pastoral leases have exclusive possession of the land, and the right to graze the land, but require permission to carry out other activities on their lease.
Foreign and domestic lessees can gain freehold title over part of the land under a voluntary process known as tenure review. Under this process, specified land areas of the lease can be restored to full Crown ownership, usually to be managed by the Department of Conservation.
In February , however, the government announced an end to tenure review because it has resulted in more intensive farming and subdivision on the , hectares of freehold land which has been affecting the landscape and biodiversity of the land.
With tenure review ending, the remaining Crown pastoral lease properties, currently covering 1. In April there had been 2, submissions for feedback to the government on the future management of the South Island high country. The types of land ownership in New Zealand are: Freehold title, Leasehold title, Unit title, Strata title, and cross-lease. The majority of land in New Zealand is freehold. A title plan is the plan deposited by LINZ when the title was created.
Property titles do not contain information about the value of the property. Rates are assessed on either assessed annual rental value, land value or capital value. There is no stamp duty in New Zealand. Mortgages and liens are available in New Zealand.
There is no permanent government policy as such that discriminates lending to foreigners. During and the RBNZ began easing these lending restrictions on banks. A registered memorandum of mortgage is the usual form used to create a lien on real estate to secure an indebtedness.
There is no mortgage recording or mortgage tax in New Zealand. However, since October all non-resident purchasers must complete a Residential Land Statement declaring they are eligible to buy residential property in New Zealand, before signing any sale and purchase agreement.
There are some statutory controls imposed on the amount of interest which may be charged on a loan secured by real property and private and government agencies that monitor and report on interest charges that ensure that interest rates and costs are not excessive or illegal. There are no laws that that restrict the ability to make a borrower or guarantor personally liable for indebtedness secured by real property. Property legally purchased but unoccupied can generally not revert to other owners.
New Zealand has a generally strong record on intellectual property rights IPR protection and is an active participant in international efforts to strengthen IPR enforcement globally. The legislation is administered by MBIE. There are about ten statutes that provide civil and criminal enforcement procedures for IPR owners in New Zealand.
The Copyright Act and the Trade Marks Act impose civil liability for activities that constitute copyright and trademark infringement. Both Acts also contain criminal offences for the infringement of copyright works in the course of business and the counterfeiting of registered trademarks for trade purposes. The Fair Trading Act imposes criminal liability for the forging of a trademark, falsely using a trademark or sign in a way that is likely to mislead or deceive, and trading in products bearing misleading and deceptive trade descriptions.
The government is reviewing the Copyright Act in light of significant technological changes since the last review in In November , MBIE, which administers the Act, released a page Issues Paper which summarizes the operation of the New Zealand copyright regime, its shortcomings, and the wide range of issues that need to be addressed.
MBIE is reviewing the issues raised from the public consultation which closed in April Customs New Zealand has had its powers to act on its own initiative to temporarily detain imported or exported goods that it suspects infringe copyright or trademarks and to inspect and detain any goods in its control suspected of being pirated. The New Zealand High Court has been empowered to award additional damages for trademark infringement, and unless exceptional circumstances exist, the courts must order the destruction of counterfeit goods.
This is in addition to the existing availability of compensatory damages under the Trade Marks Act Under this requirement, inventors will not be deprived of their ability to be granted a patent in New Zealand if an inventor makes their invention public, provided the inventor files the patent application within 12 months of disclosure.
The Copyright Tribunal hears disputes about copyright licensing agreements under the Act and applications about illegal uploading and downloading of copyrighted work. The Copyright Infringing File Sharing Amendment Act put in place a three-notice regime, issuing alleged infringers up to three warnings within a nine-month period, before ruling that infringement has occurred. The legislation enables copyright owners to seek the suspension of the internet account for up to six months through the District Court.
It requires the removal of all tobacco company marketing imagery. The omnibus bill intends to make technical amendments to the Patents Act , the Trade Marks Act , the Designs Act , and their associated regulations. The Bill is not intended to be a full policy review of these Acts, or to review the criteria for granting patents, or registering trademarks and designs.
New Zealand currently provides data exclusivity of five years from the date of marketing approval for a new pharmaceutical under Section 23B of the Medicines Act Data protection on pharmaceuticals applies from the date of marketing approval, regardless of whether it is granted before or after the expiration of the year patent.
From July New Zealand wine and spirit makers can register the geographical origins of their products under the Geographical Indications Wine and Spirits Registration Act allows New Zealand wine and spirit makers to register the geographical origins of their products. The most commonly intercepted counterfeit item by Customs New Zealand is fake toys, according to an Official Information Act request. Electronics were the second most intercepted item, followed by clothing and accessories. New Zealand policies generally facilitate the free flow of financial resources to support the flow of resources in the product and factor markets.
Credit is generally allocated on market terms, and foreigners are able to obtain credit on the local market. The private sector has access to a limited variety of credit instruments. New Zealand has a strong infrastructure of statutory law, policy, contracts, codes of conduct, corporate governance, and dispute resolution that support financial activity. New Zealand has a range of other financial institutions, including a securities exchange, investment firms and trusts, insurance firms and other non-bank lenders.
Non-bank finance institutions experienced difficulties during the global financial crisis GFC due to risky lending practices, and the government of New Zealand subsequently introduced legal changes to bring them into the regulatory framework. This included the introduction of the Non-bank Deposit Takers Act and associated regulations which impose requirements on exposure limits, minimum capital ratios, and governance.
It requires non-bank institutions be licensed and have suitable directors and senior officers. It also provides the RBNZ with powers to detect and intervene if a non-bank institution becomes distressed or fails. The RBNZ is the prudential regulator and supervisor of all insurers carrying on insurance business in New Zealand and is responsible for administering the Insurance Prudential Supervision Act The RBNZ administers the Act to promote the maintenance of a sound and efficient insurance sector; and promoting public confidence in the insurance sector.
The FMA supervises approximately reporting entities. Legal, regulatory, and accounting systems are transparent. The NZASB has the delegated authority to develop, adopt and issue accounting standards for general purpose financial reporting in New Zealand and are based largely on international accounting standards, and GAAP. Smaller companies except issuers of securities and overseas companies that meet proscribed criteria face less stringent reporting requirements.
Entities listed on the stock exchange are required to produce annual financial reports for shareholders. Stocks in a number of New Zealand listed firms are also traded in Australia and in the United States. Small, publicly held companies not listed on the NZX may include in their constitution measures to restrict hostile takeovers by outside interests, domestic, or foreign.
However, NZX rules generally prohibit such measures by its listed companies. In December , the government introduced the Financial Market Infrastructure Bill to establish a new regulatory regime for financial market infrastructures FMI , and to provide certain FMIs with legal protections relating to settlement finality, netting, and the enforceability of their rules. The bill aims to maintain a sound and efficient financial system; avoid significant damage to the financial system resulting from problems with an FMI, an operator of an FMI, or a participant of an FMI; promote the confident and informed participation of businesses, investors, and consumers in the financial markets; and promote and facilitate the development of fair, efficient, and transparent financial markets.
The bill passed its first reading in February and is with the select committee. The small size of the market reflects in part the risk averse nature of New Zealand investors, preferring residential property and bank term deposits over equities or credit instruments for investment. The RBNZ is statutorily independent and is responsible for conducting monetary policy and maintaining a sound and efficient financial system.
The New Zealand banking system consists of 26 registered banks, and more than 90 percent of their combined assets are owned by foreign banks, mostly Australian. There is no requirement in New Zealand for financial institutions to be registered to provide banking services, but an institution must be registered to call itself a bank. In December , the government passed an amendment to the Act to broaden the legislated objective of monetary policy beyond price stability, to include supporting maximum sustainable employment.
It also requires that monetary policy be decided by a consensus of a Monetary Policy Committee, which must also publish records of its meetings. While policy decisions at the RBNZ have been made by the Governing Committee for several years before the amendment, the Act had laid individual accountability with the Governor, who could be removed from office for inadequate performance according to the goals set through the Policy Targets Agreement.
Applicants for bank registration must meet qualitative and quantitative criteria set out in the RBNZ Act. Applicants who are incorporated overseas are required to have the approval of their home supervisor to conduct banking business in New Zealand, and the applicant must meet the ongoing prudential requirements imposed on it by the overseas supervisor.
Foreign-owned banks are permitted to apply for dual registration — operating both a branch and a locally incorporated subsidiary in New Zealand — provided both entities comply with relevant prudential requirements. Locally incorporated subsidiaries are separate legal entities from the parent bank.
They are required, among other things, to maintain minimum capital requirements in New Zealand and have their own board of directors, including independent directors. In contrast, bank branches are essentially an extension of the parent bank with the ability to leverage the global bank balance sheet for larger lending transactions.
Capital and governance requirements for branch banks are established by the home regulatory authority. There are no local capital or governance requirements for registered bank branches in New Zealand. In addition to registered banks, the RBNZ supervises and regulates insurance companies in accordance with the Insurance Prudential Supervision Act and non-bank lending institutions.
Non-bank deposit takers are regulated under the Non-bank Deposit Takers Act New Zealand has no permanent deposit insurance scheme and the RBNZ has no requirement to guarantee the viability of a registered bank. While the scheme has been generally successful, in the government paid out NZD 1. There have since been bailouts of several insurance companies and other small finance companies. Banks can raise funds in international markets relatively easily at reasonable cost, but are vulnerable to global market volatility, geopolitics, and domestic economic conditions.
Domestically, banks face exposure due to the concentration of New Zealand exports in a small number of commodity-based sectors which can be subject to considerable price volatility. Residential mortgage and agricultural lending exposures have also presented risk. With the addition of Kiwibank, that rises to 91 percent. The RBNZ estimate approximately 0. Agriculture loans make up about 13 percent of bank lending and has seen higher rates of non-performing loans — particularly dairy farms — in The four banks have capital generally above the regulatory requirements.
There have since been subsequently four rounds of consultations revisiting capital requirements after the Australian Financial System Inquiry made recommendations that were subsequently accepted by the Australian Prudential Regulation Authority to improve the resilience of the Australian banks. While this contributes to the ultimate soundness of the New Zealand subsidiaries, it does not directly strengthen their balance sheets. It also wants Tier 1 capital to be pure equity, rather than hybrid-type securities that usually behave as debt, but which can be converted into equity if required, and which are about a fifth of the cost of pure equity.
Since the GFC, the minimum tier 1 capital has already been raised from 4 percent of risk-weighted assets to 8. For the largest banks, at least 16 percent must consist of tier 1 capital, and within this at least For the small banks, the requirements are 14 percent and Debt instruments that can be converted to equity will no longer count towards regulatory capital.
However, banks will able to make greater use of redeemable preference shares. Initially in order to give the banks time to accumulate capital through retained earnings the changes were to be phased in over a seven-year period starting from July The increase in their market share is also a result of the appointment of three additional banks as default KiwiSaver providers in People who start a new job are automatically enrolled in KiwiSaver and must opt-out if they do not want to be a member.
Contributions are made by the employee, the employer and if eligible from the government in the form of a tax credit. In there were over 2. While funds can only be withdrawn at the age of 65 with very few exceptions, members can shift their funds. There are some restrictions on opening a bank account in New Zealand that include providing proof of income and needing to be a permanent New Zealand resident of 18 years old or above.
Access to money in the account will not be granted until the individual presents one form of photo ID and a proof of address in-person at a branch of the bank in New Zealand. If the applicant does not apply for an IRD number, the tax rate on income earned will default to the highest rate of 33 percent. New Zealand banks typically have a dedicated branch for migrants and businesses to set up banking arrangements.
New Zealand has revoked all foreign exchange controls. Accordingly, there are no such restrictions — beyond those that seek to prevent money laundering and financing of terrorism — on the transfer of capital, profits, dividends, royalties or interest into or from New Zealand. Full remittance of profits and capital is permitted through normal banking channels and there is no difficulty in obtaining foreign exchange. However, withholding taxes can apply to certain payments out of New Zealand including dividends, interest, and royalties, and may apply to capital gains for non-residents and on the payment of profits to certain non-resident contractors.
New Zealand operates a free-floating currency. As a small nation that relies heavily on trade and global financial and geopolitical conditions, the New Zealand currency experiences more fluctuation when compared with other developed high-income countries. The RSE allows the horticulture and viticulture industries to recruit workers from nine Pacific Island nations for seasonal work when there are not enough New Zealand workers. Other people who use remittance services include recently resettled refugees, and other migrant workers particularly in the hospitality and construction sectors.
Anti-money laundering and combatting terrorism financing laws have made access to cross-border financial services difficult for some Pacific island countries. If a bank is unable to comply with the Act in its dealings with a customer, it must not do business with that person. This would include not processing certain transactions, withdrawing the banking products and services it offers, and choosing not to have that person or entity as a customer.
Since then New Zealand banks have been reducing their exposure to risks and charging higher fees for remittance services, which in some instances has led to the forced closing of accounts held by money transfer operators MTOs.
The New Zealand government is working with banks to improve the bankability of small MTOs, and to develop low cost products for seasonal migrant workers in the RSE. New Zealand is also using its membership in global fora to encourage a coordinated approach to addressing high remittance costs, and is working with Pacific Island governments to find ways to lower costs in the receiving country, such as the adoption and use of an electronic payments systems infrastructure.
The New Zealand Treasury released a report in March to explore feasible policy options to address the issues in the New Zealand remittance market that would maintain access and reduce costs of remitting money from New Zealand to the Pacific. In , the New Zealand and Australian governments hosted a series of roundtable meetings in Auckland, Sydney, and Tonga, with the Asian Development Bank and the International Monetary Fund that included officials from banks, MTOs, and regulators from Australia, New Zealand, and the Pacific, senior officials from international financial institutions, and training providers to discuss the issue and identify practical solutions to address the costs and risks of transferring remittances to Pacific countries and difficulties in undertaking cross-border transactions.
Barriers to remittances to Pacific nations remain a significant public policy issue during , and work is underway led by MFAT and involving financial regulators in New Zealand and overseas, to address some of these barriers. The fund was designed to partially provide for the future cost of New Zealand Superannuation, which is a universal benefit paid by the New Zealand government to eligible residents over the age of 65 years irrespective or income or asset levels.
The Act also created the Guardians of New Zealand Superannuation, a Crown entity charged with managing and administering the fund. It operates by investing government contributions and the associated returns in New Zealand and internationally, in order to grow the size of the fund over the long term. Between and , the government contributed NZD In December , the newly elected government resumed contributions, with plans to resume contributions to the full amount according to the formula set out in the Act from Planned contributions for the year to June will be NZD 1.
This increases to NZD 2. The government has not indicated it will suspend its contributions during the economic impact of the pandemic. In June , the fund was valued at NZD In the first four months of , the fund made losses of NZD 4. The guardians have a stated commitment to responsible investment, including environmental, social and governance factors, which is closely aligned to the United Nations Principles for Responsible Investment.
Companies that are directly involved in the following activities are excluded from the Fund: the manufacture of cluster munitions, testing of nuclear explosive devices, and anti-personnel mines; the manufacture of tobacco; the processing of whale meat; recreational cannabis; and the manufacture of civilian automatic and semi-automatic firearms, magazines or parts. As of December , the fund does not make investments in 14 countries, mainly located in Africa and the Middle East.
Following the attack on two Christchurch mosques by a gunman using legally obtained guns on March 15, the fund divested NZD 19 million USD 13 million from seven companies including four U. Due to the live-stream of the attack the NZSF announced on March 20, it had joined up with other New Zealand wealth funds as a shareholder of Facebook, Twitter, and YouTube owner Alphabet, to strengthen controls to prevent the live-streaming of objectionable content.
The NZSF will undertake discussions with the companies concerned in confidence and will report on milestones achieved in future Annual Reports. In recent years the NZSF has explicitly excluded companies that are directly involved in the manufacture of: cluster munitions, testing of nuclear explosive devices, anti-personnel mines, tobacco, recreational cannabis, and the processing of whale meat.
In , the fund divested a group of five U. In , the fund divested NZD The aim of the Climate Change Investment Strategy is to reduce exposure to investments in carbon and fossil fuels. The guardians applied their carbon exclusion methodology again in June and June The government manages two other wealth funds that also aim to reduce future liability and burden on New Zealanders.
The Government Superannuation Fund GSF aims to meet the cost of 57, state sector employees who worked between to and are entitled to an additional fixed retirement income. In addition to ACC levies paid by workers and businesses, the ACC operates a fund to meet the future costs of injuries. ACC is one of the largest investors, owning about 2. The board of directors of each SOE reports to two ministers, the Minister of Finance and the relevant portfolio minister.
Private enterprises can compete with public enterprises under the same terms and conditions with respect to markets, credit, and other business operations. New Zealand governments have embarked on several privatization programs since the s, to reduce government debt, move non-strategic businesses to the private sector to improve efficiency, and raise economic growth.
In the government completed a program of asset sales to raise funds to reduce public debt. It involved the partial sale of three energy companies and Air New Zealand, with the government retaining its majority share in each. The bulk of the initial share float was made available to New Zealand share brokers and international institutions, and unsold shares were made available to foreign investors. Foreign investors are free to purchase shares on the secondary market.
New Zealand has been using the public private partnership PPP method of procurement and increasingly so where the public sector seeks to complete needed infrastructure assets faster than conventional methods of procuring and financing would achieve.
It lists the other agencies that are involved in the planning, implementing, and advising on infrastructure, including MBIE telecommunications and energy infrastructure , Department of Corrections, and the Ministry of Defence among others. In the Infrastructure Transaction Unit was created within Treasury as an interim measure to provide support to agencies and local authorities in planning and delivering major infrastructure projects.
The Infrastructure Commission will support government agencies, local authorities and others to procure and deliver major infrastructure projects, and it will be responsible for: developing PPP policy and processes; assisting agencies with PPP procurement; the Standard Form PPP Project Agreement; engaging with potential private sector participants; and monitoring the implementation of PPP projects.
InfraCom will publish PPP guidance material and project information for businesses wanting to enter into a long term contract for the delivery of a service, where the provision of the service requires the construction of a new asset, or the enhancement of an existing asset, that is financed from external private sources on a non-recourse basis and where full legal ownership of the asset is retained by the Crown.
The government aims for its PPP procurement process will improve the delivery of service outcomes from major public infrastructure assets by: integrating asset and service design; incentivizing whole of life design and asset management; allocating risks to the parties who are best able to manage them; and only paying for services that meet pre-agreed performance standards.
In December the government introduced the Infrastructure Funding and Financing Bill which if passed will provide a funding and financing model to support the provision of infrastructure for housing and urban development that supports the functioning of urban land markets and reduces the impact of local authority financing and funding constraints. It also outlines the administration, obligations, and monitoring of Special Purpose Vehicles SPVs which are responsible for raising capital for a project, transferring the infrastructure to the relevant central or local government entity after completion, and its obligations to effectively and efficiently construct the infrastructure.
The bill is with the select committee which is due to report back with recommendations on June MBIE administers the procurement process. It is available at: www. The Notice of Procurement includes the request for a quote, a registration of interest, and requests for tender and for proposal. Agencies must treat suppliers from another country no less favorably than New Zealand suppliers.
Suppliers must not be discriminated against because of the country the goods, services or works come from or their degree of foreign ownership or foreign business affiliations. Where applicable, foreign bidders who are ultimately successful may still be required to meet tax obligations and approval from the Overseas Investment Office.
The New Zealand government has recently entered and completed infrastructure roading projects in partnership with companies from Australia, Japan, the United States, and China. New Zealand is one of several countries cooperating with China on infrastructure investment relating to their USD 2. The upgrade to the New Zealand-China FTA adds a Government Procurement chapter, which among other provisions, includes a built-in agreement to enter into market access negotiations with New Zealand once China completes its accession to the WTO Agreement on Government Procurement, or if it were to negotiate market access on government procurement with another country.
Infrastructure New Zealand is an industry association founded in , and addresses key strategic challenges including the reform of complex regulatory and environmental approval and the appropriate use of public and private sector debt to finance infrastructure investment opportunities. It is supported by a board of 12 members who are industry leaders in their professional fields. The New Zealand government actively promotes corporate social responsibility CSR , which is widely practiced throughout the country.
Multi-national businesses are the main focus, such as a New Zealand company that operates overseas, or a foreign-owned company operating in New Zealand. The guidance can also be applied to businesses with only domestic operations that form part of an international supply chain.
Individuals wishing to complain about the activity of a multi-national business that happened in another country, will need to contact the National Contact Points of that country. If further action is needed, MBIE provide resolution assistance, such as mediation, but do not adjudicate or duplicate other tribunals that assess compliance with New Zealand law. MBIE is assisted by a liaison group that meets once a year, with representatives from other government agencies, industry associations, and NGOs.
New Zealand is renowned for its efforts to ensure a transparent, competitive, and corruption-free government procurement system. Stiff penalties against bribery of government officials as well as those accepting bribes are strictly enforced. The Ministry of Justice provides guidance on its website for businesses to create their own anti-corruption policies, particularly improving understanding of the New Zealand laws on facilitation payments.
In Transparency International ranked New Zealand 1 st out of countries and territories, scoring 87 out of Transparency International NZ has had concerns with the historical inconsistency in the level of public accessibility and Parliamentary oversight and application of secondary legislation which is law made under powers delegated by Parliament to government agencies, entities, and local government. New Zealand hast Acts, which delegate power to make secondary legislation.
In December the government introduced the Secondary Legislation Bill to improve and support the law relating to the making of secondary legislation by applying and adjusting the framework of access to, and Parliamentary oversight of, secondary legislation provided for in the Legislation Act New Zealand supports multilateral efforts to increase transparency of government procurement regimes. New Zealand also engages with Pacific island countries in capacity building projects to bolster transparency and anti-corruption efforts.
New Zealand has regulations to counter conflict-of-interest in awarding contracts and government procurement. All other New Zealand government agencies are encouraged to follow the Rules. The legal framework for combating corruption in New Zealand consists of domestic and international legal and administrative methods. For the bribery offences under sections 99 to of the Crimes Act, New Zealand authorities have jurisdiction where any act or omission takes place in New Zealand.
If the acts or omissions alleged relate to Person of Position and occur outside New Zealand, proceedings may be brought against them under the Crimes Act if they are a New Zealand citizen, ordinarily resident in New Zealand, have been found in New Zealand and not been extradited, or are a body corporate incorporated under the law of New Zealand.
Penalties include imprisonment up to 14 years and foreign bribery offences can incur fines up to the greater of NZD 5 million USD 3. The New Zealand government has a strong code of conduct, the Standards of Integrity and Conduct, which applies to all State Services employees and is rigorously enforced. The Independent Police Conduct Authority considers complaints against New Zealand Police and the Office of the Judicial Conduct Commissioner was established in August to deal with complaints about the conduct of judges.
It also provides guidance online to companies and NGOs in how to combat corruption and bribery. The Anti-Money Laundering and Countering Financing of Terrorism Amendment Act extends the Act to cover lawyers, conveyancers, accountants, real estate agents, and sports and racing betting.
Businesses that deal in certain high-value goods, such as motor vehicles, jewelry and art, will also have obligations when they accept or make large cash transactions. Businesses had two years to comply with the Act and compliance costs are estimated to be USD million and USD million over ten years. In July , the government passed the Trusts Act and repealed the Trustee Act and the Perpetuities Act to make trust law more accessible, clarify and simplify core trust principles and essential obligations for trustees.
It also aims to preserve the flexibility of the common law to allow trust law to continue to evolve through the courts. It applies to all trusts including family trusts and those for corporate structures. New Zealand has one of the highest per capita number of trusts in the world due to favorable tax treatment and the absence of estate duty, gift duty, stamp duty, or capital gains tax.
It is estimated that there are between , and , trusts in New Zealand. After a standard review of the general election and local body elections, the Justice Select Committee conducted an inquiry in of the issue of foreign interference through politicized social media campaigns and from foreign donations to political candidates standing in New Zealand elections. New Zealand intelligence agencies acknowledged political donations as a legally sanctioned form of participation in New Zealand politics, but raised concerns when aspects of a donation is obscured or is channeled in a way that prevents scrutiny of the origin of the donation, when the goal is to covertly build and project influence.
Agencies such as the Office of the Controller and Auditor-General and the Office of the Ombudsmen act as watchdogs for public sector corruption. These agencies independently report on and investigate state sector activities. Serious Fraud Office P. Transparency International New Zealand is the recognized New Zealand representative of Transparency International, the global civil society organization against corruption.
Transparency International New Zealand P. An amnesty buy-back scheme of prohibited firearms administered by the NZ Police ran until December 20, In , the New Zealand labor market experienced a tightening in labor market conditions with the unemployment rate at historically low levels after a prolonged period of record population growth from record net migration.
In the last quarter of , the rate was 4 percent. The rise in net migration is comprised of international students, professionals, and returning New Zealand citizens. Youth unemployment has been a problem in New Zealand for at least a decade. New Zealand operates a Recognized Seasonal Employer RSE scheme that allows the horticulture and viticulture industry to recruit workers from the Pacific Islands for seasonal work to supplement the New Zealand workforce.
There have been prosecutions and convictions for the exploitation of migrant workers, with reports that the hospitality, agriculture, viticulture, and construction industries are most effected. New Zealand recruitment agencies that recruit workers from abroad must use a licensed immigration adviser. Some foreign migrant workers were reported to have been charged excessive recruitment fees, experienced unjustified salary deductions, nonpayment or underpayment of wages, excessively long working hours, and restrictions on their movement.
Reportedly, some had their passports confiscated and contracts altered. New Zealand has consistently maintained an active and visible presence in the International Labour Organization ILO , being a founding member in , and its representatives have attended the annual International Labour Conferences since The ILO and the government of New Zealand have collaborated on several initiatives, including the elimination of child labor in Fiji, employment creation in Indonesia, and the improvement of labor laws in Cambodia.
The government has taken a more proactive approach to enforcing employment law in New Zealand, because the migrant worker population has increased rapidly in recent years and the resources to protect those workers have not kept up with the increase. The government has been steadily increasing the number of labor inspectorates — situated within MBIE — to double the number in If an occupation is on a shortage list a visa applicant is exempt from an individual labor market test, and the employer does not need to demonstrate that no suitable New Zealanders are available to fill or be trained for each individual position.
The Long-Term Shortage List contains occupations experiencing a sustained shortage and offers visa holders a chance to apply for residency after two years. The Regional Skill Shortage List — which replaced the Immediate Skill Shortage List in — identifies the regions with occupations that have an immediate shortage of skilled workers by 15 regions. There is no stated government policy on the hiring of New Zealand nationals, however certain jobs within government agencies that handle sensitive information may have a citizenship requirement, minimum duration of residency, and require background checks.
Labor laws are generally well enforced, and disputes are usually handled by the New Zealand Employment Relations Authority. Its decisions may be appealed in an Employment Court. MBIE is responsible for enforcement of laws governing work conditions. MBIE provides guidance for employers on minimum standards of employment mandated by law, guidelines to help promote the employment relationship, and optional guidelines that are useful in some roles or industries.
Agreements on severance and redundancy packages are usually negotiated in individual agreements. The Employment Relations Amendment Act repeals some laws made under the previous government, such as restricting the mandatory day no-fault trial period to businesses with 19 employees or fewer and mandating set rest and meal breaks for employees based on the number of hours worked.
If requested, reinstatement must be the first course of action considered by the Employment Relations Authority for employees who have found to be unfairly dismissed. After a three-year review and consultation, the government introduced the Screen Industry Workers Bill in February The new bill if passed aims to provide clarity about the employment status of people doing screen production work, introduce a duty of good faith and mandatory terms for contracting relationships in the industry, allow collective bargaining at the occupation and enterprise levels, and create processes for resolving disputes arising from contracting relations or collective bargaining.
New Zealand law provides for the right of workers to form and join independent unions of their choice without previous authorization or excessive requirements, to bargain collectively, and to conduct legal strikes, with some restrictions. Contractors cannot join unions, bargain collectively, or conduct strike action. Police have the right to organize and bargain collectively but sworn police officers do not have the right to strike or take any form of industrial action.
They aim to ensure that contractors receive their minimum rights and entitlements, reduce the imbalance of bargaining power between firms and contractors who are vulnerable to poor outcomes, and ensure that system settings encourage inclusive economic growth and competition.
For some it's also a status symbol, like buying a fancy car to show your friends. He added that along with the travel benefits and the status that comes along with owning real estate around the world, the programs also allow people to manage their tax burdens. Meanwhile, as laws change, a residency visa can be taken away — but it's a more affordable way to get the perks that come along with living in another country. Whether you choose to splash out for full citizenship or you invest in residency, here are 23 countries where money can buy you a second passport — or at least a chance to live long-term abroad — ranked by cost, from cheapest to most expensive.
You can apply for citizenship after five years through process of naturalization i. Dominica is appealing due to its visa-free access to more than countries, according to Arabian Business. Following the devastation St. Kitts and Nevis faced after last year's hurricane season, pricing for the CIP programme has been adjusted, according to Katz. Its citizens also now have access to more than jurisdictions worldwide, since the country has signed travel treaties with the likes of Russia, Moldova, Nepal, India, Indonesia, Rwanda, and Taiwan within the last year.
Cambodia has been allowing foreigners to naturalise following an investment since , according to the latest CBI Index. While the Cambodian senate approved a draft law on June 11, that could alter the country's economic citizenship landscape and increase the investment thresholds, for now, these are the options:. Applications must also have knowledge of Khmer history and language, and must travel to Cambodia to obtain good behaviour, police, and health certificates, as well as to sign the relevant citizenship oath.
Turkey's economic citizenship programme, which was amended in September to lower the thresholds, offers five options, three of which involve investment over three years. There are two options for citizenship by investment in Montenegro, according to Katz. A program limited to 2, applicants that will launch in October includes:. The EB-5 visa leads to US conditional resident status known as a green card , which can then lead to a U. Two years after conditional residence is granted, investors and their families become eligible for permanent residency.
Spain has a Golden Visa program , which can eventually lead to citizenship. Australia boasts a residency program that can lead to citizenship in the long term.
All residential mortgages and lending products are provided by Royal Bank of Canada are subject to its standard lending criteria. Available to permanent residents who have been in Canada less than 5 years. Temporary residents may also apply.
Additional documents may be required to validate down payment funds sourced from another country. For applications that result in a written mortgage pre-approval or approval, containing an interest rate commitment, the interest rate is guaranteed for up to days from the rate commitment. The mortgage must fund within days from the start of the rate commitment.
Other terms and conditions may apply. Other account transaction fees may apply. Available only to newcomers; please see the eligibility requirements in above note 1. Offer may be withdrawn or amended at any time without notice. See complete terms and conditions PDF that apply to this promotional offer. Debit transaction means a withdrawal of funds from an account and includes an assisted transaction and an electronic self-serve transaction.
Your credit limit will be based on financially related information about you, including income and asset information. Offer available to RBC personal deposit accountholders who are i permanent residents who arrived in Canada within the last 12 months, or ii temporary resident workers who arrived in Canada within the last 48 months, applying for a new RBC Royal Bank personal credit card excluding the RBC Rate Advantage Visa.
Royal Bank of Canada reserves the right to cancel, modify or withdraw this offer at any time. Higher credit limits are subject to higher income and asset requirements. All other Debit Transactions from these Accounts are counted as Debit Transactions towards the free monthly Debit Transactions included in the Account, and give rise to an Excess Debit Transaction Fee if the total free monthly Debit Transactions are exceeded.
Excess debit transaction fee may also apply depending on the account. Additional service fees by any intermediary and receiving bank may apply. Transfers can only be made from Canadian dollar bank accounts. The service is not available to recipients in Canada and in restricted countries. You cannot send an International Money Transfer from a U.
If you don't qualify for an unsecured RBC Royal Bank credit card, you may still be eligible for a credit card provided you give us a security deposit and meet Royal Bank of Canada's eligibility criteria. To receive 2, welcome RBC Rewards points, your application form must be received by October 31, and approved by us. Upon enrolment, 2, bonus RBC Rewards points will appear on your first credit card statement.
To receive the 20, bonus RBC Rewards points, your application form must be approved by us. Upon enrolment, 20, bonus RBC Rewards points will appear on your first credit card statement. Bonus points offer is only offered to the Primary Business Cardholder on the account; Secondary Business Cardholder as well as existing RBC Avion Visa Business cardholders as of the offer eligibility period are not eligible for this offer.
This offer may not be combined or used in conjunction with any other offer. RBC Royal Bank reserves the right to withdraw this offer at any time, even after acceptance by you. Get preferred interest rates on select GICs. Contact an RBC branch for more details. If the first personal banking account opened is not an Eligible Personal Banking Account, the offer is not applicable, even if an Eligible Personal Banking Account is subsequently opened.
The IMT Offer will apply if the first non-eligible account is upgraded to an Eligible Personal Banking Account within 30 days of the non-eligible account being opened, provided that both the non-eligible account is opened and the upgrade to an Eligible Personal Banking Account is completed within the Promotional Period. If an Eligible Personal Banking Account is downgraded to an ineligible account type or closed, the IMT Offer will cease to apply as of the time of downgrade or closure and unrebated transactions will not be credited.
Additional service fees by any intermediary and receiving bank may also apply. Transfers can only be made from eligible Canadian dollar bank accounts. The IMT service is not available for money transfer transactions with recipients in Canada or in restricted countries. You cannot send an IMT from a U.
To benefit from a rebate towards the annual fee of an Eligible Student Credit Card, every year, you must: complete the Student Information section of the credit card application form in full, remain a student, and be an owner or co-owner of an Eligible Student Bank Account throughout your studies.
Subject to credit approval. As a sole or joint owner of an RBC VIP Banking VIP account and the primary cardholder of one of the eligible credit cards listed below, the annual fee of that eligible credit card will be fully or partially rebated as indicated below , every year, as long as your credit card remains in good standing and you remain a VIP account owner.
Only one credit card annual fee rebate per VIP account is allowed, which means that if you own a joint VIP account and each co-owner is also the primary cardholder of an eligible credit card, only the primary owner of the VIP account will be entitled to the credit card annual fee rebate. Other conditions and restrictions apply.
S dollar deposit account, limited to the U. Personal Account, with the monthly fees waived. Note: Due to system limitations all accounts must be opened by the client in the same geographic location or region to be recognized for this bundling feature. If you have questions, please speak to your branch.
This offer is only available to Small Businesses registered in Canada by newcomers who have been in Canada for 5 years or less. This offer cannot be combined with any other offer. The account must remain open for at least 6 months from the date it was opened.
If the account is closed within 6 months, Royal Bank of Canada reserves the right to recover the full cash credit. RBC can amend or withdraw this offer at any time without notice. Some restrictions may apply. Standard message and data charges apply. Transaction fees may apply for bill payments or fund transfers made through Online Banking and are separate from access fees.
All other trademarks are the property of their respective owner s. Offer available when you register or incorporate with Ownr and apply and get approved for a new RBC business deposit account associated with the business registered or incorporated with Ownr "BDA" within 60 days "Application Criteria".
Once you complete the Application Criteria, you must log back into your Ownr account and click 'Refund Me'. To qualify for this Offer your BDA must remain open for a period of 1 year from the date it is opened but there is no minimum balance that must be maintained in your BDA.
If you received this Offer then change or close your BDA within 1 year of the date it was opened, we reserve the right to debit from your BDA an amount equal to the value of this Offer inclusive of applicable taxes , even if this places the BDA into overdraft.
Offer may be revised or withdrawn at any time without notice. Request Money is a feature of the Interac e-Transfer service. Recipients of the request may have payment limits at their Financial Institutions. Autodeposit is a feature of the Interac e-Transfer service. There are no additional fees to register or receive funds via Autodeposit. Standard fees and charges, such as Regular account deposit fees, apply.
The convenience fee is not an RBC fee. It is added directly to the amount of your cash withdrawal. The interest rate is an annual interest rate and a simple interest calculation. Interest is calculated daily on the closing credit balance. Deposit interest is paid monthly to the account on the second business day of the following calendar month, backdated to the previous business day.
Interest rate is subject to change at any time without notice. To consult the list of participating merchants, please visit www. Even though some merchants may sell gas, grocery, and drug store merchandise, purchases made at these locations may not necessarily qualify as Eligible MCCs if the merchant is not classified as such by Visa. Also, you may make a purchase at a merchant that is not classified as an Eligible MCC but is located on the premises of a merchant that is classified as an Eligible MCC, in which case your purchase would not qualify as an Eligible MCC.
We cannot guarantee that any merchant, operating in whole or in part as a gas, grocery or drug store, is classified as an Eligible MCC and in no event will we be liable or responsible for any claims with respect to a grocery store purchase made at a merchant that is not classified as an Eligible MCC.
RBC Rewards points are earned on net purchases only; they are not earned on cash advances, balance transfers, cash-like transactions and bill payments that are not pre-authorized charges that you set up with a merchant, interest charges or fees, and credits for returns and adjustments will reduce or cancel the points earned by the amounts originally charged. This insurance protects the financial institution if you ever default on your mortgage. Default insured programs are limited to 25 years.
This is provided for informational purposes only and is not intended as legal or other professional advice. Automotive financing products are offered by Royal Bank of Canada and are subject to its standard lending criteria. This information is in summary form and is intended for general guidance and information only. It is not intended to provide financial, legal or other advice. It should not be regarded as comprehensive or a substitute for professional advice.
This publication provides general information only and is not intended to provide specific advice. Not intended to offer services or solicit customers where prohibited by law. Some additional conditions apply. Offer may be changed or withdrawn at any time, without notice. Not available in combination with any other rate discounts, offers or promotions.
There are penalties if excess contributions are made. If a Canadian resident is subject to taxation on their world income in another country e. When you use Virtual Visa Debit to make a payment: a The merchant performs an authorization on your personal deposit account at the time of the purchase and this authorization amount is immediately debited from that account.
This process is followed by a settlement, typically business days after authorization, which finalizes the amount of the purchase and, in some cases, reflects adjustments to the initial authorization amount. When this happens, a credit adjustment in the amount of the original authorization will be credited to your account, followed immediately by a debit adjustment that reflects the final settlement amount of your purchase.
If the account linked to the primary chequing position on your Client Card is changed before a payment has been settled, it may impact the processing of that payment if the merchant needs to adjust the initial authorization amount. The final settlement amount will be processed on the account that is linked to the primary chequing position on your Client Card at the time of settlement, even if a different account was debited for the authorization amount. Debit transactions made using your Virtual Visa Debit Number do not count against any monthly transaction limits applicable to your personal deposit account.
Other account fees may apply. When you use your Virtual Visa Debit Number for a transaction in a currency other than Canadian dollars, we will convert the transaction amount into Canadian dollars at an exchange rate that is 2.
For most transactions, the authorization amount debited by the merchant at the time of purchase will be adjusted at settlement to reflect changes in the applicable exchange rate. From time to time we may offer bonus cash back promotions and will disclose the terms and conditions in the offer details.
Royal Bank of Canada reserves the right to withdraw or amend this benefit at any time. Please allow up to ninety 90 days from the date the transaction is posted on your credit card statement for the bonus points to be deposited into your RBC Rewards account. Card linking may take up to 2 business days to process before savings and bonus points can be applied to purchases.
Used under licence. In addition, you can carry forward unused contribution room indefinitely. For more information, visit rbc. Unlimited means there is no maximum cash back credits you can earn on Grocery Store Purchases and other purchases up to your available credit limit per Annual Period. Includes electronic digital debit and credit transactions to the account, such as online bill payments, pre-authorized payments PAPs and point of sale POS transactions.
To receive the 15, bonus RBC Rewards points which will appear on your first statement, your application form must be approved by us. Additional cardholder s , as well as cardholder s with existing RBC Royal Bank travel rewards credit cards, applying for or transferring to an RBC Avion Visa Infinite card as of the offer eligibility period, are not eligible for this offer.
This offer may not be combined or used in conjunction with another offer. All applicable taxes, service fees and surcharges are the responsibility of the traveller. Some restrictions apply. Royal Bank of Canada reserves the right to withdraw this offer at any time, even after acceptance by you. This coverage provides reimbursement for the non-refundable unused portion of your prepaid travel arrangements purchased with your RBC Avion Visa Business card, and interrupted due to a covered risk, including the extra costs of economy class transportation to your departure point.
Please refer to the Insurance Certificate for complete details regarding these coverages. All insurance is subject to limitations and exclusions. Insurance benefits are available to Canadian residents only.
Please refer to the insurance certificates included in your Welcome Kit for complete details. Interac e-Transfer Transactions expire 30 days after they are sent and cannot be claimed by the recipient after this time. You have 15 days after the Interac e-Transfer Transaction is sent to cancel without charge. The convenience fee is not a Royal Bank fee. When you use your Client Card to make a withdrawal in a currency other than Canadian dollars at an ATM outside Canada displaying the PLUS system symbol, we will convert the amounts withdrawn and any associated charges imposed by any third party for the use of the ATM to Canadian dollars when we deduct the funds from your Account.
We will convert these amounts to Canadian dollars no later than the date we post the transaction to your Account at our exchange rate, which is 2. This rate may be different from the rate in effect on the date your ATM withdrawal occurred or on the date of the transaction. The length of hold will be fifteen 15 business days after the first business day of deposit if the cheque or other negotiable item is drawn on a U. The length of hold will be twenty-five 25 business days after the first business day of deposit if the cheque or other negotiable item is drawn on a foreign bank other than a U.
The variable annual interest rate will be determined based on information you provide on the application and any credit bureau information. The annual interest rate is based on the Prime Rate plus an additional premium that ranges between 2. Your premium will be calculated on an annual basis and could only change once a year. DS Application for a U. Download your PDF. We cannot refund any other passport fees or your travel expenses if you miss your trip.
The passport application fee and the execution fee are non-refundable. Both fees are collected and retained by law even if a passport is not issued. Learn more about refunds on our Refund of Expedited Passport Fee page. You are about to leave travel. Department of State. Links to external websites are provided as a convenience and should not be construed as an endorsement by the U. Department of State of the views or products contained therein.
If you wish to remain on travel. Cancel GO. Russia Travel Advisory. Skip to main content. Gov Travel. Passports International Travel U. Stay Connected. Law Enforcement. How to Apply for A Passport. Y Z All. I'm an adult 16 and older and I'm applying for the first time. Service I need How much do I pay? What form should I submit? Please see the Change or Correct a Passport Page for details on which form you need to submit.
All Additional Services Fees are per application. Department of State for fastest return shipping. Note: We do not offer this service for customers applying for a passport card only. We send cards via First Class Mail. To pay for the application and special services such as expediting your application: Submit a check personal, certified, cashier's, traveler's or money order payable to "U.
Department of State" Credit and debit cards are not accepted. Do not cancel your check or money order after you have applied. Note : the facility may add a surcharge to cover the cost of a credit card transaction. To pay for your renewal application and special services such as expediting your application: Send us a check personal, certified, cashier's, traveler's or money order payable to "U. Department of State" Do not cancel your check or money order after you have applied as you may have to pay additional fees.
For applicants residing in Canada, please see Applying for a U. Passport from Outside the United States. When renewing your passport by mail from Canada, you must pay by check or money order payable in U. You cannot pay online for passport services at this time. Some companies may charge a fee for you to fill out your passport form. Read the fine print and disclaimers on their websites. These companies are not affiliated with the Department of State.
Department of State" Money orders U. Postal, international, currency exchanges , payable to "U.
Luckily, a number of countries offer Citizenship by Investment Five-year residence visa for the one-time fee of THB , ($15,). decisions, RBC Direct Investing has everything you need to manage your investments with making their own investment decisions with lower fees. Overview of foreign direct investment in Latin America and the Caribbean. The Central Bank of Brazil has recently changed its data collection.