Existing companies and limited partnerships have until 28 October 2015 to comply with new director requirements.

Companies and their directors that fail to comply with the new requirements face penalties of up to $10,000 each.

From 28 October onwards businesses will be required to have at least one director on their board or one general partner who lives in New Zealand (or is ‘resident’ in Australia and is a director of a company registered in Australia).

Companies only have a few days to ensure that they comply with the new requirements, and should already be in the process of providing the Companies Office with their directors’ or general partners’ full names, residential addresses, and dates and places of birth.

If your company is struggling to meet the deadline or you require more information, talk to your legal advisor as soon as possible.