Hi,
I am interested in a company regulated by the FSPA in New Zealand.
So I asked them what they would do for me in case of an issue. The reply was a bit of a shock to me:
I would like to know what would happen if a registered, but not licensed, company would not cooperate on a withdrawal request.
What can I expect from you? Is there a deposit made by the company or some other form of guarantee that I will get my money back if requested?
And, if there is a protection, does that have a limitation?
reply from
Senior Advisor – (Specialist)
Service Centre (Southern)
Ministry of Business, Innovation & Employment
The companies office would not be able to assist in pursuing withdrawal of funds.
The companies office is only able to investigate breaches of the Companies Act 1993. If you have problems with a company that you do business with, you will need to seek your own independent legal advice as to what avenues are available to you.
My , yet unanswered question to the is "what benefit does it have as client using a , in New Zealand, regulated company "
I think the answer will be "nothing" because to start a civil procedure you need to know where the company is really registered , starting a civil case in Belize, Cayman, Seychelle will have very small chance of success......
So what is the added value of using a regulated company?
I do understand it depends on the country:
UK
USA
Germany
Cyprus
New Zealand
BVI
Belize
I thought the first 3 are very good and will help if you get scammed?
Cyprus and New Zealand I thought to be equal (less than the first 3)
BVI and Belize, you are on you own
It seems with NZ you are alos on your own?
I am interested in a company regulated by the FSPA in New Zealand.
So I asked them what they would do for me in case of an issue. The reply was a bit of a shock to me:
I would like to know what would happen if a registered, but not licensed, company would not cooperate on a withdrawal request.
What can I expect from you? Is there a deposit made by the company or some other form of guarantee that I will get my money back if requested?
And, if there is a protection, does that have a limitation?
reply from
Senior Advisor – (Specialist)
Service Centre (Southern)
Ministry of Business, Innovation & Employment
The companies office would not be able to assist in pursuing withdrawal of funds.
The companies office is only able to investigate breaches of the Companies Act 1993. If you have problems with a company that you do business with, you will need to seek your own independent legal advice as to what avenues are available to you.
My , yet unanswered question to the is "what benefit does it have as client using a , in New Zealand, regulated company "
I think the answer will be "nothing" because to start a civil procedure you need to know where the company is really registered , starting a civil case in Belize, Cayman, Seychelle will have very small chance of success......
So what is the added value of using a regulated company?
I do understand it depends on the country:
UK
USA
Germany
Cyprus
New Zealand
BVI
Belize
I thought the first 3 are very good and will help if you get scammed?
Cyprus and New Zealand I thought to be equal (less than the first 3)
BVI and Belize, you are on you own
It seems with NZ you are alos on your own?
