The idea was a recommendation in the Capital Markets Taskforce report last month, but Prime Minister John Key said yesterday it was being pursued and was in the planning stages, The New Zealand Herald reported.
"It is very much in its infancy. Quite how successful it can be is yet to be proven, but we are keen to take the next step," he said.
Such an initiative would see overseas funds registered in and administered from New Zealand, potentially creating thousands of jobs and an economic boost.
Mr Key said Ireland had successfully gone down a similar path in the past.
The taskforce gave detail about how the proposal could be implemented directly to Mr Key and recommended a financial centre be overseen by the Department of the Prime Minister and Cabinet.
Mr Key said some "technical changes" might be required, but the idea was being progressed and the next step was to look at how such a centre would be structured.
