Company Formation Services in the Cook Islands
Key Features

An Innovative Offshore Jurisdiction

The Cook Islands represent a forward-thinking offshore jurisdiction equipped with sophisticated and inventive legal frameworks tailored for:

Asset Protection Trusts
International Companies
Mutual Funds
Offshore Banks
Insurance Companies
International Partnerships

The legal landscape of the Cook Islands is particularly advantageous for those seeking asset protection. Below, we delve into the offshore legislation of the Cook Islands and the services offered by TBA & Associates.

Advantages of the Cook Islands

The Cook Islands’ offshore financial sector began in 1982 with the introduction of the Cook Islands International Companies Act. This was later complemented by an amending piece of legislation focused on safeguarding assets, widely recognized as one of the most comprehensive and secure legal frameworks globally. This legislation provides strong assurance for the assets of foreign investors in the Cook Islands.

Companies established in the Cook Islands benefit from:

Flexibility in their organizational structure
Streamlined administrative procedures
A highly secure and confidential environment
Minimal reporting and regulatory constraints
Comprehensive protective offshore laws that prioritize client security
The Cook Islands stands out as a truly secure destination with unparalleled asset protection measures, making it one of the safest places in the world for offshore operations. Furthermore, the Cook Islands offers two other well-utilized offshore formation options known for their robust asset protection and security features.

A Cook Islands International Company (IC) offers numerous advantages to both companies and individuals, which encompass:

Zero tax obligations
Political and economic stability
Stringent enforcement of legal provisions
The world’s most reliable asset protection trust legislation
An English Common Law System
An English-speaking environment
Minimal disclosure requirements
Opportunities for currency diversification
Limitation of personal liability
Flexible operational requirements
Minimal financial reporting commitments

Taxation

The legislation explicitly stipulates that international companies and foreign entities registered in accordance with the International Companies Act of 1981-1982 will not be considered tax residents in the Cook Islands, provided that the company’s directors do not reside in the Cook Islands and the company’s control originates from outside the Cook Islands. Consequently, the company will not be liable for company income tax within the Cook Islands, and likewise, its shareholders will not be subject to any form of taxation, including stamp duty.

In essence, this implies that the Cook Islands International Company, as per the aforementioned criteria, enjoys full exemption from all forms of taxation. This comprehensive exemption encompasses, but is not limited to:

• No income tax
• No capital gains tax
• No sales tax
• No tax on stock sales or transfers
• No capital stock tax
• No property tax
• No estate tax
• No gift tax
• No stamp tax
• No succession tax
• No inventory tax

Cook Islands International Company
Unique Features

• Wide Range of Permissible Activities: The company is authorized to engage in any activities allowed by local laws.
• Registered Office and Agent: It is a requirement for the International Company (IC) to maintain a registered office and registration agent within the Cook Islands’ jurisdiction.
• Incorporation Name Requirement: The company’s name on the Cook Islands must include the word “Limited” or its abbreviation, “Ltd.”
• Authorized Capital: An authorized capital of $5,000 is stipulated; however, there is no obligation to pay this amount upon incorporation.
• Bearer Shares Prohibited: The issuance of bearer shares is not permitted.
• Shares Without Declared Par Value: The company is allowed to issue shares without a specified par value.
• Minimum Directors and Shareholders: Only one individual or legal entity is required to serve as a director and shareholder.
• Nominee Services: Nominee services, including nominee directors and shareholders, are permissible.
• Confidentiality Assured: Information regarding offshore banking transactions conducted in the Cook Islands and ownership of the company remains confidential and inaccessible to third parties. Disclosure can only occur through a local court order.
• Global Meeting Venues: Shareholder and director meetings can be held anywhere in the world.
• Document Storage: Company owners have the autonomy to decide the location for the storage of corporate documents.
• No Currency Control: The Cook Islands do not impose currency control regulations.
• Efficient Registration: The registration process for an offshore company in the Cook Islands typically takes approximately two weeks following the submission of all required documentation.

Cook Islands International Company
Top Uses

There are no prohibitions on conducting business activities outside of the Cook Islands, except in cases where the activities are deemed illegal or necessitate a license for lawful operation. The primary restrictions apply to conducting business within the Cook Islands, particularly in sectors such as banking, insurance, and real estate, which mandate the acquisition of the appropriate licenses.

The establishment of an International Company (IC) can serve various purposes, including but not limited to:

• Professional Service Company: Offering specialized services in various fields.
• Confidentiality: Ensuring the privacy and confidentiality of business operations.
• International Trading: Engaging in international trade activities.
• Trade and Distribution: Facilitating the distribution and trading of goods.
• Financial Management: Managing financial assets and portfolios.
• Offshore Savings and Investments: Providing avenues for offshore savings and investment opportunities
• Forex and Stock Trading: Participating in foreign exchange and stock trading markets.
• E-commerce: Conducting online commercial activities and e-commerce ventures.

Key Corporate Features