New Zealand announces intention to create register of foreign trusts

On 13 July 2016, officials in New Zealand announced (Link) that they would be acting on all recommendations of the Shewan Inquiry into foreign trust disclosure rules. Finance Minister Bill English stated: “The changes to the foreign trust rules are a matter that the Government intends to move quickly on. The Government intends to introduce legislation to require a register that is searchable by Internal Affairs and the Police, and annual disclosure requirements in the coming months.”  The announcement was accompanied by the Government Inquiry into Foreign Trust Disclosure Rules:  Government’s response (Link) which highlights the Inquiry’s recommendations, the government’s response, and applicable timeframe for action.

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