New Zealand is ranked number one in the world for ease of doing business. The market is highly diverse and incredibly responsive to new business.
GDP in New Zealand reached NZ$312.49 billion (US$205.9 billion) in 2017, making it an impressively productive nation for its size.
The country’s government is consistently pro-foreign investment and ownership. So, what commercial gems lie hidden in New Zealand’s three largest cities for foreign businesses?
Why set up a business in New Zealand?
There are many appealing facets of New Zealand’s business environment. Public authorities are approachable and transparent. New Zealand keeps tax compliance simple, with zero social security, stamp duty, payroll, estate, or capital gains tax requirements.
The country is highly dependent on international trade, and as such possesses a portfolio of longstanding and mature trade relationships. Its isolation drives a productive export economy. Furthermore, New Zealand maintains the spot as the third freest economy in the world by maintaining consistently low barriers to trade.
The proactivity and drive of New Zealand business is visible in all corners of the nation. As a result, the motivated, multicultural and educated workforce drives highly diverse and innovative sectors. However, some concentrated areas are worth paying special attention to.
Auckland: local and international business hub
Auckland is New Zealand’s economic star child, housing approximately 1.6 million people. This is around one-third of New Zealand’s overall population. The city is experiencing explosive population growth. Educated workers, entrepreneurs and students are all drawn to New Zealand’s commercial capital.
Auckland’s super-city Council welcomes foreign direct investment (FDI) to increase employment and local capital. Areas of commercial opportunity lie especially in advanced materials, technology, food and beverages, commercial services and commercial real estate.
Auckland is home to Australasia’s most efficient port, and the second-largest in New Zealand. In 2017, Auckland’s port handled 580,351 containers. This port facilitates easy import and export arrangements for local businesses.
The city’s educated workforce is also top-notch. The University of Auckland was recently ranked first in the world in newly-established Times Higher Education University Impact Rankings. These rankings measure institutions against UN sustainable development goals. University of Auckland was noted for its commitment to partnerships, gender equality, wellbeing and sustainable communities.
Auckland’s edge comes from its international connectivity and strategic position as the hub for the Asia-Pacific region. The country’s location and trade relationships give it a unique ability to connect with Asia, the US, and Australia.
The city’s global connections also facilitate strong city-to-city relationships with overseas partners. Auckland can seek overseas expertise through established channels, and apply it to its own commercial and social strategies. This fosters an innovative and multicultural commercial environment whose diversity plays a key role in Auckland’s growth and success.
Christchurch’s multi-billion dollar rebuild
Public and international investment is flooding into Christchurch (population approximately 381,500). The South Island hub suffered damaging earthquakes in 2010 and 2011, prompting the government to spend NZ$40 billion (around US$26.6 billion) on a major rebuild.
The reconstruction project places a strong emphasis on attracting foreign investors to the city and surrounding Canterbury region. The government encourages investors to move into the area early, and utilize institutional support from organizations like ChristchurchNZ.
The rebuild also focusses on finding innovative solutions to improve productivity, increasing import and export distribution networks, and maximizing opportunities for business during the recovery process. These ideal business conditions invite foreign investors to work alongside New Zealanders in promoting the prosperity of this city.
Snap up this opportunity now
Christchurch’s reconstruction is New Zealand’s vehicle to build “the best place for business, work, study and living in Australasia.” Such is the vision set by the city’s Economic Development Strategy.
Early movers into Christchurch not only enjoy a brand-new, smart tech-laden city with beautiful landscapes and juxtaposed heritage buildings. They have the rare opportunity to shape the vibrant city’s commercial future.
With an educated and skilled workforce, business mentors on hand to assist, and improving import and export capability, this city is perfectly placed to receive your business and support its long-term success.
Wellington, the ‘coolest little capital’
Wellington is New Zealand’s capital city has a population of around 418,500. Tiny by international standards, Wellington is no less impressive against its cohort of world capitals.
‘Liveability’ is the niche Wellington capitalizes on to attract local and foreign investors and businesses for life. Consequently, the vibrant city consistently ranks among the top 20 cities worldwide in international ‘liveable city’ surveys.
The city’s council is constantly advocating investments into facilities and initiatives that maintain a high quality of life. Its arts and events scene, with crown jewel Te Papa museum, is the driving force behind Wellington’s ‘cultural capital’ title. This is closely accompanied by Wellington’s hip café culture. Investment into the waterfront and scenic environmental treasures of the city maintain its natural beauty for adventurers.
Set up for life
As New Zealand’s political hub, Wellington’s public service is accessible and exemplary. Businesses will find ample support and information from public authorities when settling into their new commercial life.
Its international port and airport make it easy for entrepreneurs and commodities to move around. Consequently, traveling throughout New Zealand for business or leisure is effortless and relatively cheap, due to Wellington’s central location. Inner-city transport is cheap and efficient. Furthermore, escape to the outdoors is quite literally within a few minutes’ drive from the central business district.
It’s no surprise then that foreign businesses and investors choose Wellington for its creative potential, work environment, and lifestyle.
Spoiled for choice
New Zealand’s three largest cities have diverse and engaging personalities, that offer enriching opportunities for foreign investors and businesses. This is not limited to doing business; the country offers enviable living standards and lifestyle opportunities.
Expand to New Zealand and be part of a thriving economy that remains wholly supportive of international business.
Reach out for assistance
Although New Zealand is one of the world’s freest economies, it’s important to get help expanding into new territory. We can help make sure your commercial expansion runs as smoothly as possible.
Biz Latin Hub provides personalized business solutions in due diligence, commercial representation, and recruitment, among other services. Our New Zealand team offers expert support to ensure a smooth transition into the country.
Contact us at co[email protected] and we’ll help you design a strategy to capitalize on New Zealand’s investor-friendly landscape.