Financial Service Provider (FSP) in New Zealand. An FSP can legally engage in activities and offer services such as: * Deposit Taking, like a Bank * Keeping, investing and managing money, securities and investment portfolios on behalf of third parties. New Zealand repealed its entire Banking Act in 1995 and thereby facilitated free entry in to the business of banking. There are several laws regulating a financial business, but New Zealand is unique in the sense that an international banking entity can be established without capital requirements. Meaning: If you offer financial services using a New Zealand based Company and all your clients are based outside New Zealand, your Company will still operate outside the gegraphical scope of Part II of the Securities Act 1978 and it will not be subject to regulation by the Reserve Bank as a non-bank deposit taker.