Business industry code (BIC)
The primary activity of a business is classified using a Business Industry Description and a corresponding Business Industry Code (BIC).
Just start typing in a description that you think is right for your business. Then from the drop-down list choose the appropriate description and corresponding code.
What is a Business Industry Description?
A Business Industry Description is a way of classifying a business by providing a common way of describing the specific service a business provides.
What is a Business Industry Code?
The Business Industry Description classifies the main activity you business is involved in and for each Business Industry Description there is a corresponding Business Industry Code. This is the code that you supply to government departments.
The format of this Business Industry Code is seven characters, one alpha and six numeric digits.
When will I need to know my Business Industry Description?
On the Companies Office website you will need to know your Business Industry Description when you incorporate a new company and wish to register for tax. If it changes, you can update the description as one of the company maintenance options.
What does the Companies Office do with the Business Industry Code information it collects?
The Companies Office will send it to Inland Revenue so they can process your applications for a company IRD number and GST registration. Inland Revenue then forward it to the Accident Compensation Corporation (ACC) and to Statistics NZ.
BIC information for individual companies will also be displayed on the companies register as part of a company search.
Related information can be found on the following websites:
What is ANZIC 2006?
The Australian and New Zealand Standard Industrial Classification (ANZSIC 2006) is the system of classification government departments such as ACC, Inland Revenue, Statistics New Zealand and the New Zealand Companies Office have adopted to provide a common way of describing the specific service a business provides through the use of Business Industry Descriptions and Business Industry Codes.
The ANZSIC 2006 provides more detailed classifications compared with the previous system and also introduced the change to the format of Business Industry Codes.