Fact File
Fact File Supplied by:
Cook Islands Financial Services Authority.
Location
The Cook Islands is a self-governing territory in free association with New Zealand, located in the heart of the South Pacific, between Hawaii and New Zealand.
Time Zone
Cook Islands Standard Time (CKT) – UTC -10:00 (no daylight savings time).
Population
15,000.
Capital
Avarua, located on the island of Rarotonga.
Airport(s)
Rarotonga International Airport (RAR).
Currency
New Zealand Dollar (NZD).
Political system
Westminster parliamentary democracy, a sovereign state in free association with New Zealand.
International dialling code
+682.
Legal system
Common law and statute with highest appellate court being the Privy Council in London.
Centre's expertise
|
Specialises in wealth management, asset protection, trust services, offshore company formations and captive insurance. |
Personal income tax Progressive rates up to 30% for residents.
Progressive rates up to 30% for residents.
Corporate income tax
20% for resident companies, 28% for non resident companies. Non resident companies are only taxed on Cook Islands sourced income. Cook Islands international companies (ICs) will usually be structured as non resident.
Exchange restrictions
None.
Tax Information exchange agreements
The Cook Islands has Tax Information Exchange Agreements with multiple jurisdictions. Further information can be found here: https://www.mfem.gov.ck/legislation-reporting.
Permitted currencies
Shares can be issued in any currency.
Minimum authorised capital
|
No minimum capital requirements. |
Minimum share issue
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One share for companies limited by shares. |
Shelf companies No.
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No. |
Timescale for new entities
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Typically 1-2 business days for incorporation. |
Incorporation fees
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Statutory fees - IC: US$310; Limited Liability Company (LLC) US$210. Trust company fees and disbursements may vary.
|
Annual fees
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Statutory fees - IC: USD310; LLC: US$210. |
Trust company fees and disbursements may vary.
Minimum number
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One. |
Residency requirements/ownership restrictions
No residency requirements.
Corporate directors
Permitted.
Meetings/frequency
No mandatory meeting requirements.
Disclosure
Ultimate beneficial owner details must be held with registered agent.
Bearer shares
Not permitted.
Minimum number
One share for a company limited by shares.
Public share registry
No public access to shareholder details.
Meetings/frequency
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Shareholders can waive all meetings. |
Annual return
ICs: yes, LLCs: file an LLC report annually.
Audit requirements
ICs: Yes, unless waived by members resolution; LLCS: no.
Registered office
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Yes, in the Cook Islands. |
Domicile issues
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Entities may redomicile to and from the Cook Islands. |
Company naming restrictions
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Name must not be undesirable in the opinion of the Registrar. |
