The people in your business

When completing Finalise Your Setup you will be asked to confirm your business details and the people behind the business. It has four parts: your business details, directors, shareholders, and anyone else who needs access to the account.

Troubleshooting

(NZ) a company search does not find your business

Start typing your Legal Trading Name and we search the companies register. If your business does not come up, check you are using the registered legal name rather than a trading name — "Smith Contracting Limited" rather than "Smith's".

You can also type the name and your business number in by hand. 

"NZBN number must be 13 digits"

A New Zealand Business Number is exactly 13 digits, with no spaces or letters. You can look yours up on the New Zealand Business Number register.

"ABN number must be 11 digits"

An Australian Business Number is exactly 11 digits. Enter the digits only, without spaces.

A legal name is rejected

Name fields accept letters, spaces, hyphens, apostrophes and full stops. Names like Anne-Marie, O'Brien, Te Ariki and J. Smith are all fine. .

Use the name exactly as it appears on the person's passport or driver licence, not a shortened or preferred name. These names go on credit checks and on the signed documents, so a nickname will cause the checks to fail.

A phone number will not be accepted

Please provide a unique mobile number for each person, not a landline and not a shared number. 

You do not know a director's mobile or email

You will need to ask them. We are legall required to contact directors directly for their identity check.

Who to add as a shareholder

Add every shareholder who holds 25% or more. Below 25% you do not need to list them.

Choosing the shareholding type

For each shareholder, say how the shares are held: Personally held, Held by a Trust or Held by a company.

A new step appeared after you added a shareholder

A shareholder at 25% or more held by a company adds a Supporting Company Details step for that company. Held by a trust, it adds a Trust Details step. Anti-money-laundering rules require us to identify the people behind those entities too.

You get one step per company or trust. Two shareholdings through the same company still produce one step.

The shares are held by an overseas company or trust

Add it the same way and contact us. We may need a little more from you.

Your business is a trading trust

Select Trading Trust as the business type and enter the Trust Name. The director and shareholder sections are then hidden, because we collect that information on a separate Trust Details step instead.

Adding account users

The last section is for anyone else who needs to sign in and use the FundTap account, such as a bookkeeper. It is optional, and it is separate from directors and shareholders.