OBS_VALUE: On 1  May 2015, Section 10(d) of the Companies Act 1993 was amended to require all companies to have at least one director to live in New Zealand or live in an 'enforcement country' (currently only Australia). This requirement does not apply to branches. Note also that companies listed on NZX must have at least three directors. There must be at least two directors that are residents in New Zealand.See also: https://companies-register.companiesoffice.govt.nz/help-centre/company-directors/who-can-be-a-director/              