Looking to purchase a business? We can help! There are a number of steps involved in buying a business, and working your way through them can seem quite overwhelming, particularly for first time buyers.

Often prospective purchasers overlook important aspects and end up having to sort out issues that arise after settlement – at significant cost. This article puts the spotlight on common snags people experience when buying a new business. Read more…

Keeping New Zealand safe from money launderers – AML now in force

As you may already be aware, from 1 July 2018 all law firms must comply with the requirements of the Anti-Money Laundering and Countering Financing of Terrorism Act 2009 (AML for short).

This is another reminder that we must now verify the identity of all our clients.

While you are already familiar with providing your driver's licence as ID, we now need additional information such as a copy of your birth certificate and a current bank statement, or rates demand, to verify your full name, date of birth and address.

While in many cases it may be self-explanatory, we must ask you about the nature and purpose of the proposed business relationship with us. We may also request information confirming the source of the funds for a transaction.

The law applies to everyone and all transactions where money is received and/or paid through our trust account – for every new matter.

For our part, we must file regular reports with the appropriate authorities detailing the transactions we have dealt with and notifying them of any suspicious activity. Once these new requirements have been operating for some time we will all become familiar with them and it will then cause little inconvenience. However, it's important to understand the reason for the legislation and why you will be asked for this additional information.

If you have any queries about AML, please do not hesitate to contact us.

The legislation has introduced a sliding scale where businesses that are at a higher risk, from a food safety viewpoint, are required to operate under stricter requirements than lower risk outlets. The Ministry of Primary Industries (MPI) points out that a corner dairy operator who reheats meat pies is treated differently from a meat pie manufacturer.

New food businesses must register when they start to trade. Existing businesses are required to register with a set of rolling deadlines.

Registration was required by 31 March 2018 for a group of businesses including cafes and clubs without an alcohol licence, bakeries, caterers, rest homes, dairies, convenience stores and some food manufacturers. For a comprehensive list, go here. If your business is in this group and hasn't registered, you must be in touch with MPI now.

The next group of businesses to register must do so by 30 November 2018. Go here for more details.

New changes regarding law firms are coming into force and they may affect your next visit to us. The Anti-Money Laundering and Countering Financing of Terrorism Act 2009 (known as AML/CFT) applies to New Zealand law firms from 1 July of this year.

The legislation aims to ensure New Zealand is a safe place to conduct business. The government wants this country to remain at the top of the list of low risk countries with a reputation for low corruption and strong protocols to prevent money laundering activity. Read more…

What is the Process?

When your employee becomes ill, or has an injury, with long-term effects, it takes not only a toll on them of course, but also on you as their employer as there is sometimes quite a disruption to your business. Read more…

Is your business infringing existing intellectual property rights? Do your homework.

A trade mark can be a valuable asset which can help your business to develop a reputation in the market and distinguish your goods and/or services from others. It's risky, however, to not consider existing third party intellectual property rights before you start to trade. Read more…