Become a Banker Offshore in Everything But Name

Become a Banker Offshore in Everything But Name

New Zealand offers an attractive option for those who like the idea of working as a banker. You can form an NZOFC if you prefer to be a banker rather than a client offshore. This is a New Zealand Offshore Financial Company. An NZOFC is a bank-like entity that can offer banking services to clients anywhere on the planet except New Zealand.

An NZOFC is distinguished from a bank by two fundamental aspects. An NZOFC is not a bank. It cannot be called such a bank. A second advantage is that forming an NZOFC takes less time and cost than setting up a bank here or anywhere else in New Zealand. Any citizen of any country can create a New Zealand offshore financial corporation.

An NZOFC is different from a bank in that it is an off-shore entity. It can be legally linked with other offshore entities in many beneficial ways. It could provide its owners with privacy and asset protection options that are not available to traditional bank ownership.

What makes an NZOFC like a bank?

An NZOFC is able to take deposits from customers. It can also offer loans. The New Zealand Offshore Financial Company is able to issue credit cards or debit cards to clients. It can also wire money internationally. This company is able to provide trust services, cash management services, and market investments. NZOFCs can offer payment services to customers all over the world.

An NZOFC Should Not Be Called a Bank

A New Zealand Offshore Financial Company (also known as a hybrid financial institution) is not subject to New Zealand banking law. It does not accept New Zealand residents as clients. An NZOFC provides what are essentially banking services for its clients, but New Zealand law prohibits it from calling itself a bank or suggesting that it is a New Zealand Bank.

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An NZOFC is easier and less costly to set up than a bank.

There are no capital requirements for an NZOFC. An NZOFC does not fall under the New Zealand Federal Reserve Bank’s supervision, unlike a New Zealand bank. An NZOFC will establish a relationship in New Zealand with a correspondent bank. This will allow it to offer services that are not explicitly provided for by law. Although the paperwork required to set up an NZOFC is relatively simple, it is a good idea to seek out competent counsel in order to get licensing.

There are potential advantages to starting a bank instead of forming an NZOFC.

Apart from the fact it is often cheaper to set up an NZOFC rather than a bank here in New Zealand, there are other benefits. These benefits are due to the offshore solution for asset protection and privacy. An NZOFC may be an asset of another offshore entity. These can include, but are not limited, to a New Zealand Trust or a Panama Private Interest Foundation or an International Business Corporation. This can provide tax benefits and protect legitimate business practices from competitors. An offshore solution, such as becoming a banker in all but name, can be attractive in a world that is prone to intrusion into private and business life.


A specialist in offshore formations and banking, working with several companies to help them set up offshore structures and banks. This includes the construction of foundations, banks, financial institutions, and companies in various jurisdictions.

User Bancorp Ltd is a provider of private and corporate accounts, merchant account, offshore companies like Belize IBC’s (International Business Company), Panama foundations, wire transfer services and managed funds/forex.

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We offer shares and co-ownership in various investment programs, such as real estate investments in profitable jurisdictions like Panama and Belize.



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