Cook Islands Offshore Company Incorporation Overview

Prices in Singapore Dollars (Prices below do not include Nominee Director. Please refer to our Nominee Service Price List for fees.)

 

Incorporation$1,680
Hong Kong Bank Account$1,040
Bank Account in Singapore, Latvia, Austria, British Virgin Islands, St. Vincent & The Grenadines, Mauritius, or Belize$975

 

The Cook Islands is comprised of a group of 15 islands located in the South Pacific Ocean (between Tahiti in the east, Samoa and Tonga in the west) in free association with New Zealand. The largest island and administrative centre is Rarotonga which is approximately 3,000 km north-east of Auckland, New Zealand. The township of Avarua on the north of Rarotonga is the political and commercial centre of the Cook Islands. The Islands became self-governing in 1965 but New Zealand retains responsibility for external affairs and defence. The total population of the Island group is approximately 19,000. Although Cook Islanders are citizens of New Zealand, they have the status of Cook Islands nationals, which is not given to other New Zealand citizens.

 


 

Key Corporate Features

 

General

Type of Entity IBC
Type of law Common
Shelf Company Availability No
Minimum Government Fees (Excluding Taxation) SGD 435
Corporate Taxation None on Foreign Profits
Double Taxation Treaty Access No

Share Capital or Equivalent

Standard Currency USD
Permitted Currencies Any
Usual Authorized US$ 100
Minimum Paid-up Capital US$100
Directors or Managers
Minimum Number One
Local Required No
Public Access to Records Yes
Location of Meetings Anywhere
Members
Minimum Number One
Public Access to Records No
Location of Meetings Anywhere
Company Secretary Required Yes
Local or Qualified Not Required
Accounts
Requirement to Prepare No
Audit Requirements No
Requirement to File accounts No
Public Access to Accounts no
Other
Requirement to File Annual Return Yes
Change of Domicile Permitted Yes

 


 

General Information

The Cook Islands is a self-governing parliamentary democracy in the South Pacific Ocean, in free association with New Zealand. The 15 small islands have a total land area of 240 square kilometres (92.7 sq miles), but the Cook Islands Exclusive Economic Zone (EEZ) covers 1,800,000 square kilometres (690,000 sq miles) of ocean. The main population centre is on the island of Rarotonga (14,153 in 2006), where there is an international airport. There is a much larger population of Cook Islanders in New Zealand, particularly the North Island. In the 2006 census, 58,008 self-identified as being of ethnic Cook Island Māori descent.

With about 100,000 visitors travelling to the islands in the 2010-11 financial year, tourism is the country’s main industry, and the leading element of the economy, far ahead of offshore banking, pearls, and marine and fruit exports.

 

Infrastructure & Economy

Rarotonga has a highly developed communication system, with satellite telephone, the Internet, e-mail and fax facilities. Direct dialling to Rarotonga is available from most countries. New Zealand Airlines fly via Rarotonga to and from Auckland, Tahiti, Hawaii, Los Angeles and Fiji, and provide direct access to the USA, South East Asia and Australia, as well as Europe.

 

The Cook Islands economy is primarily based on tourism and fishing. In recent years the offshore industry has expanded enormously due to the innovative and progressive legislation, which facilitates the establishment of numerous offshore structures, such as international business companies, offshore banks, offshore insurance companies and wealth preservation trusts.

 

• Language

  • The official language is English with Chinese being spoken and used widely in business context.

 

• Currency

  • New Zealand Dollar (NZD)

 

• Exchange Control

  • Only in relation to certain dealings in New Zealand Dollars. There are no local restrictions on the movement of funds to or from the Cook Islands in other currencies and funds may be held and business transacted in the Cook Islands in any currency.

 

• Type of Law

  • Based on English Common Law.

 

• Principal Corporate Legislation

  • The International Companies Act 1981-1982.
  • Limited Liability Company Act 2008.

 

 

Company Information

 

• Type of Company for International Trade and Investment

  • International Business Companies, which may be limited by share or by guarantee, or which may be no liability, unlimited companies and mutual companies.

 

• Restrictions on Trading

  • Cannot trade within the Cook Islands or undertake the business of banking or insurance unless licensed under the Offshore Banking Act or the Offshore Insurance Act.

 

• Powers of Company

  • A Cook Islands International Company has the same powers as a natural person.

 

• Language of Legislation and Corporate Documents

  • English

 

• Shelf Companies Available

  • No.

 

• Language of Name

  • English

 

• Registered Office Required

  • Yes, must be maintained in Cook Islands at the address of a licensed management company or law firm.

 

• Name Restrictions

  • Anything identical to or similar to a company already incorporated.

 

• Suffixes to Denote Limited Liability

  • Names must end with one of the following words, or abbreviations thereof - Limited, Corporation, Incorporated, Societe Anonyme or Sociedad Anonima.

 

• Disclosure of Beneficial Ownership to Authorities?

  • No

 


 

If you are a lawyer, accountant , tax advisor or financial consultant and require services for your clients, please contact us for further options.

 

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