Cook Islands

Cook Islands Corporations @ Eur 4.299

Please be advised that we can offer you Cook Islands International Business Companies (IBCs) at a cost of USD$4.299 (which includes the following: Incorporation, Government Fees, First Year Annual Fees, Registered Agent/Office, Nominee Directors & Shareholders, Apostilles, Certificate of Good Standing, DHL Delivery).


GENERAL
Type of Company
International
Political Stability
Good
Common or Civil Law
Common
Disclosure of Beneficial Owner
No
Migration of Domicile Permitted
Yes
Tax on Offshore Profits
Nil
Language of Name
Latin or other alphabet
CORPORATE REQUIREMENTS
Minimum Number of Shareholders
One
Minimum Number of Directors
One
Bearer Shares Allowed
Yes
Corporate Directors Permitted
Yes
Company Secretary Required
Yes
Standard Authorised Share Capital
US$ 5,000
LOCAL REQUIREMENTS
Registered Office/Agent
Yes
Company Secretary
Yes
Local Directors
No
Local Meetings
No
Government Register of Directors
No
Government Register of Shareholders
No
ANNUAL REQUIREMENTS
Annual Return
Yes
Submit Accounts
No (by resolution)
RECURRING GOVERNMENT COSTS
Minimum Annual Tax/Licence Fee
US$ 500
Annual Return Filing Fee
Nil

GENERAL INFORMATION

The Cook Islands comprises a group of 15 islands located between Tahiti in the east and Samoa and Tonga in the west. The main island of Rarotonga is 3,000 km north-east of Auckland, New Zealand and the township of Avarua on that island is the administrative and commercial centre of the Cook Islands.

POPULATION

Total population of the Island group is approximately 19,000. The indigenous population is Polynesian but English is spoken by most of the community.

POLITICAL STRUCTURE

Great Britain proclaimed a Protectorate over the Cook Islands in 1888 and in 1901, the Islands were ceded to New Zealand. The Cook Islands became fully self-governing in 1965 under the Cook Islands Constitution Act 1964. Since obtaining self-government, the Cook Islanders have retained New Zealand citizenship.

The Government has reaffirmed continuing support and encouragement for the development of Rarotonga as a financial centre.

There are two main political parties, the Democratic Alliance Party and the Cook Islands Party which between them hold all seats in Parliament. Both parties support the Cook Islands status as an offshore financial centre.

Executive authority is vested in Her Majesty the Queen. The Queen's Representative is appointed upon the advice of the Cook Islands Government. Executive Government lies with a cabinet comprising the Prime Minister and nine other Ministers appointed by the Prime Minister.

The Cook Islands has growing international stature and is a member of the South Pacific Forum, the Asian Development Bank and the Economic Commission for Asia and the Pacific.

ECONOMY

The Cook Islands economy is primarily tourism based however there has been a substantial expansion in the offshore industry with the advent of innovative and progressive legislation to facilitate the establishment of a variety of offshore structures including international business companies, offshore banks, offshore insurance companies and wealth preservation trusts.

Air New Zealand operates various Boeing 747 and 767 flights through Rarotonga to Auckland, Tahiti, Hawaii, Los Angeles and Fiji, which provide direct access to the United Kingdom, USA, South East Asia, Australia as well as Europe.

Rarotonga has a satellite international telephone and facsimile system. Direct dialling to Rarotonga is available from most countries. Internet and e-mail access is also freely available.

LANGUAGE

The official language is English however Cook Islands Maori is spoken widely.

CURRENCY

New Zealand Dollar.

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.

COMPANY INFORMATION:

TYPE OF COMPANY FOR INTERNATIONAL TRADE AND INVESTMENT
International Business Companies, which may be no liability companies, companies limited by guarantee, unlimited companies and mutual companies.

PROCEDURE TO INCORPORATE
Filing of Memorandum of Incorporation with the Registrar of International 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
Yes.

TIME TO INCORPORATE
Three days.

NAME RESTRICTIONS
Anything identical to or similar to a company already incorporated.

LANGUAGE OF NAME
The name can be in any language but must be accompanied by a translation in English.

SUFFIXES TO DENOTE LIMITED LIABILITY
Limited or Ltd.

DISCLOSURE OF BENEFICIAL OWNERSHIP TO AUTHORITIES
No.

COMPLIANCE:

ISSUED SHARE CAPITAL

There are no minimum requirements.
CLASSES OF SHARES PERMITTED

Bearer shares, preference shares, redeemable shares, shares with or without voting rights and shares of no par value.
BEARER SHARES PERMITTED

Yes.
TAXATION

International entities including International Companies are exempt from taxation.
REGISTRATION FEES

US$ 1,00 payable on the registration of the company and US$ 500 annually thereafter.
FINANCIAL STATEMENTS

All companies must lodge annual returns accompanied by audited accounts however this latter requirement can be dispensed with by company resolution.
DIRECTORS

The minimum number of directors is one. Directors may be either a body corporate or a natural person. They may of any nationality and need not be resident in the Cook Islands.
COMPANY SECRETARY

A Cook Islands resident secretary must be appointed.
SHAREHOLDERS

The minimum number of shareholders is one.

Cook Islands Corporations @ Eur 4.299
Package includes: Incorporation, Government Fees, First Year Annual Fees, Registered Agent/Office, Nominee Directors & Shareholders, Apostilles, Certificate of Good Standing, DHL Delivery.