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BUSINESS IN THE COOK
ISLANDS
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Advantages of Cook Islands
International Company
The Cook Islands, while associated with New Zealand, is South Pacific Ocean self-governing island country. There are 15 islands comprising the Cook Islands. The approximate total land area is 92 square miles (240 square kilometers). The Cook Islands have an Exclusive Economic Zone (EEZ) which is attractive to foreign investors.
The Cook Islands offshore financial sector emerged in 1982 with the passing of the Cook Islands International Companies Act, which was later accompanied by an amending piece of asset protection legislation that is regarded as the most comprehensive and secure pieces of legislation in the world, firmly ensuring the assets of foreign Cook Island investors.
The last few years the Cook Islands, in order to comply with new international standards by the OECD and anti-money laundering directives, have had to institute several automatic tax agreements and reporting requirements.
Companies incorporated in the Cook Islands enjoy structural flexibility and simple administrative procedures in a highly secure and confidential location. There are minimal reporting and regulating restrictions with comprehensive protective offshore laws that ensure client security.
There are no other offshore jurisdictions that can boast of such extensive asset protection measures.
The Cook Islands are truly the safest place in the world
The Cook Islands also offers another widely used offshore formation product for their strong asset protection and security measures – the Cook Islands Trust.
Advantages & Top Uses of a Cook Islands Offshore Company
A Cook Islands IC enables companies and individuals to benefit from a number of advantages including, but not limited to:
- Zero tax
- Political and economic stability
- Strict enforcement of legislation
- The world’s most secure asset protection trust legislation
- An English Common Law System
- English speaking country
- Minimum disclosure requirements
- Currency diversificationLimiting personal liability
- Flexible requirements
- Minimum financial reporting requirements
Efficient business regulations
- Fast incorporation
- Straightforward registration procedures
- No limitations to the share capital value and currency
- No requirements of minimum paid-up capital
Confidentiality and Privacy
- Benefits from a closed registry
- Names of directors and shareholders are not made public
- Nominee shareholders and directors are also available, providing another layer of privacy
Asset security and protection
Maintained via provisions that restrict seizure, expropriation or confiscation of assets by foreign authorities or creditors
Enhanced Privacy Law
There is no public registry of International Companies, and information can only be obtained with permission from the company itself.
No Auditing Requirements
The Cook Island requirements can be bypassed through a company resolution
Top Uses of a Cook Islands Offshore Company
There are no restrictions from doing business anywhere outside of the Cook Islands, except where activities are deemed as being illegal or require a license to legally conduct such business.
The only limitations are in conducting business within the Cook Islands and when such activities are in banking, insurance or real estate, which require an appropriate license.
The formation of an IC can be used for, including but not limited to:
- Offshore savings and investments
- Manufacturing
- Transportation
- Trade and distribution
- Forex and stock trading
- E-commerce
- Professional service company
- Confidentiality
- International trading
- Financial management
The content of this article is intended to provide a general guide to the subject matter.
Technical advice should be sought about your specific needs and requirements.
The content of this article is intended to provide a general guide to the subject matter.
Technical advice should be sought about your specific needs and requirements.
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