Offshore law firm Ogier revealed last week that it has established an office in New Zealand, in order to provide private client services to onshore clients who have previously been unable to benefit from the use of offshore trust structures.
Ogier recently merged with Cayman law firm Boxalls, and viewed the establishment of a New Zealand office as the next logical step, given that the firm has been active in recruiting Australian and New Zealand lawyers since 1998.
Ogier comprises Ogier & Le Masurier, Ogier & Boxalls and Ogier Fiduciary Services, with 24 partners and approximately 370 staff worldwide and offices in Jersey, Guernsey, London, Cayman and now New Zealand.
According to the international law firm, as a jurisdiction, New Zealand offers a unique combination of onshore and offshore characteristics. It has no capital gains or inheritance taxes and has an income tax regime for trusts settled by non-residents of New Zealand which is similar to that offered by major offshore centres such as Jersey and Guernsey.
In addition, however, it is an established, well-respected and recognised jurisdiction within the onshore world, being a member of the OECD and the WTO, having a network of double tax agreements with the major trading nations, and not appearing on the tax "black-lists" of any other jurisdiction or international body.
Commenting on Friday's launch of Ogier's New Zealand operation, trust & investment funds lawyer and partner at Ogier & Le Masurier, William Simpson observed that:
"New Zealand is certainly well-positioned for setting up and administering trusts. With the addition of New Zealand to our existing offices in Jersey, Guernsey, London and Cayman, we will be able to provide high quality legal and administration services seamlessly across all time zones to meet clients' needs. We are all excited at the new enhanced capability we can offer to clients and intermediaries in the area of private client work."
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