subject: Choosing He Right Accountant Or Lawyer [print this page] If you reside outside of New Zealand but have company connections in NZ, or are thinking of moving to NZ then there are some vital considerations to look at when choosing an accountant or a lawyer.
The professional you choose could make all the difference to your bank balance and your stress levels!
There are important considerations for people to make when considering investing or moving to New Zealand.
Some are easy to see while others are not. Having a suitable professional company to succeed when dealing with these areas and deliver helpful advice can make the difference from it being a complicated to a simple easy to follow process.
Professional services are important because getting the right advice is critical if you are migrating to New Zealand, and expatriate returning home to NZ, or an investor.
Knowing how to minimise your tax legally and understanding the implications of certain legal structures could make all the difference when it comes to protecting your assets and cash flow.
In New Zealand there is often much cross-over between the services that accountants and lawyers provide.
What this means to you, is that your aim should be to find a professional company that can represent your interests in multiple areas?legal and accounting.
As an example, an offshore investor or new immigrant to NZ would typically need a professional who can offer advice that relates to the implications of taxation and other matters relating to migration to New Zealand.
Also to be considered are the ownership options that are available plus the differences between certain structures as part of asset planning. Normally, tax advice and guidance is provided by an accountant, whereas information about asset protection and property is usually covered by a suitable solicitor.
There are however a select group of professionals in New Zealand who can operate in both of these different but very important areas. Additionally, when making a selection as to the right professional to engage, you will almost certainly need someone who can specialise in their field.
If you have property investments, it would also be a good idea to look at using a firm which can provide specific help in this area. There are some areas where the different services do not cross over each other ?as an example, conveyancing.
Conveyancing is where property is bought or sold and involves the transferring the cash from the buyer or receiving them on behalf of the vendor ? depending on the situation.
It also includes talking with banks and finance companies as well as watching over the finer points of of the new ownership title details. Most of the time, in New Zealand, most solicitors have limited knowledge when it comes to tax and accounting advice.
Offshore investors or new or returning migrants often use accountancy practices that are combined with legal services that can provide the basic taxation and accountancy services along with the over-arching asset protection and structuring advice and recommendations that you would commonly receive from a lawyer.
