Offshore company in the Cook Islands in 2017
An offshore company in the Cook Islands is almost one of the most popular phenomena. Many entrepreneurs choose jurisdiction because of a number of advantages. For example, it is listed on the OECD white list, the existence of legislation on asset protection, and so on.
The Cook Islands offshore company remains popular with people and businesses seeking a carefree environment in which to settle through one of the various offshore packages offered to international clients. These include:
• International Company (IC)
• Limited Liability Company (LLC)
• International Asset Protection Trust
Offshore jurisdictions have some of the best advantages for asset protection, tax planning and offshore banking services, which makes it one of the most sought-after jurisdictions in the world.
The Cook Islands have an exclusive economic zone, which is a free zone covering all the islands and almost 2 million square kilometers of the surrounding ocean. The Cook Islands specialize in asset management and offshore services, since legislation was enacted in 1989 and 1982, respectively.
Legislation bypasses tax requirements and allows individuals and corporations to add confidentiality levels.
Registering an offshore island in the Cook Islands will provide an opportunity to have strong asset protection legislation that prevents foreign authorities from gaining access to information.
Unlike many other foreign jurisdictions, the Cook Islands usually ignore orders from foreign courts. Due to their discretionary laws, it is considered illegal to disclose any information relating to the offshore on the Cook Islands.
Registration of an offshore company in the Cook Islands has the following advantages:
• no taxes on foreign profits
• in order to open offshore in the Cook Islands, it is enough to have one director and shareholder
• Meeting allowed anywhere in the world.
• Privacy and security
• One of the low prices for annual maintenance
• The existence of a strict law prohibiting foreign authorities from accessing financial, tax or any other information
• It is possible to add nominee account holders for added privacy.
• No requirements for filing annual reports
Based on the above advantages, we can say that it is profitable to open an offshore in the Cook Islands!
Offshore Cook Islands
The Cook Islands is an independent English-speaking country in the South Pacific. Located in the same time zone as Hawaii. For people living in jurisdictions such as Australia and New Zealand, the Cook Islands are as Hawaii - with beaches, sunshine and Polynesian hospitality - but on a smaller scale. The main island of Rarotonga has only 10,000 inhabitants.
After tourism, the most important industry for the Cook Islands is trust management. In other words, this country is a place for recreation not only for tourists who do not like the cold, but also for wealthy people who seek refuge from the threats of a lawsuit, their exposure to property and taxation.
The islands were named after the British explorer and cartographer Captain James Cook, who find it in 1770. In 1888 it was declared as British protectorate. At the beginning of the 20th century, they became a colony of New Zealand. Then, in 1965, the Cook Islands became an independent country in free association with New Zealand.
Today, Cook Islands residents actually have dual citizenship. Thus, they are citizens of New Zealand and have the appropriate passports, but at the same time, according to the law of the Cook Islands, they also have the status of citizens of the Cook Islands.
In the trial, the last court of appeal is the Her Majesty's Privy Council in London. The government in Wellington deals with most of the issues of international relations in the Cook Islands, despite the fact that the jurisdiction has direct agreements with 30 foreign governments.
International Cook Islands Company
The international company in the Cook Islands has its own law of 1981 (International Companies Act, ICA). ICA legislation regulates the registration and business activities of ICs, and also allows the beneficiaries of companies to register and manage with both flexibility and administrative ease. International companies in the Cook Islands are exempt from all taxes.
The advantages of registering an international company in the Cook Islands:
• Only one shareholder required
• Requirements for min. no share capital
• Shareholders may agree to refuse the annual meeting of shareholders and appoint an auditor
• Requires at least one director
• No requirements for resident director of Cook Islands
Incorporation of the Cook Islands LLC
LLC in the Cook Islands is a flexible, offshore international model of LLC, which provides a broad framework that allows a company to shape its structure in accordance with its own rules, rather than a rigid mandate.
As the demand for flexible offshore company structures became apparent in the offshore market, the 2008 Law on Limited Liability Companies in the Cook Islands was adopted, reflecting the continued growth of the offshore sector of jurisdiction. Passing this part of the law makes Cook Islands one of the most strategic jurisdictions for creating an international LLC.
LLC registration on the Cook Islands has several advantages such as:
• Shareholders and directors are known only to a trust company.
• Foreign lenders are limited in their ability
• Foreign judgments are not recognized by the Cook Islands
• Complete confidentiality
• Less administrative processes
• Possible renewal of existing LLC on the Cook Islands
Trust registering in the Cook Islands
The International Trust in the Cook Islands is a leading asset protection product in one of the safest offshore jurisdictions in the world. Trusts in the Cook Islands are designed for those people who would like to preserve their assets in times of uncertainty, against political, economic or legal forces.
Although the offshore financial sector recently received close attention from foreign governments seeking to limit the use of offshore services, the Cook Islands were ignored. The long arm of foreign governments cannot reach the trusts of jurisdiction. The Cook Islands do not support orders from foreign government courts requiring information or the confiscation of assets.
Registering a trust in the Cook Islands has several advantages such as:
• Assets are kept out of reach of creditors.
• Foreign governments have no authority over an international trust.
• In order for a creditor to confiscate assets, it is necessary that he independently sue the Cook Islands. However, there are significant obstacles to filing such requirements.
• Assets do not need to be physically located on the Cook Islands
• All business transactions can be carried out electronically.
• Flexible trust structure
How to open offshore in the Cook Islands?
To open an offshore in the Cook Islands is a troublesome business, which, if unsuccessful, will take time to register a company, re-submitting those and other documents.
In order not to waste much of the time and quickly start an offshore business in the Cook Islands, we strongly recommend contacting us for help.
By contacting us, you will not only save time, but also be able to cope with most of the tasks you have planned for the near future.
In order to register a company in the Cook Islands, you just need to contact us using the convenient feedback form for you.
After the appeal, we will go through a free consultation with you, clarifying those and other issues. Then you will need to prepare documents and pick up the name of the company. This may be a passport, utility bills to confirm the address and so on.
In general, contact us!