Cook Islands
Premier Options for Safeguarding Assets
The Cook Islands boast exceptional legal mechanisms for asset protection in a picturesque island setting. This jurisdiction stands out for its robust asset protection laws, making it an optimal choice for securing your business assets. By establishing an offshore company in the Cook Islands, you can shield your assets from potential litigation, creditors, and various financial risks. This strategy helps you safeguard your wealth, ensuring its long-term growth and sustainability.
For many business owners, privacy is of paramount importance. The Cook Islands offers a high degree of confidentiality and privacy for offshore companies. Stringent regulations are in place to safeguard the identities of shareholders, directors, and beneficial owners. This level of privacy grants peace of mind and shields your business interests from prying eyes.
Cook Islands
Asset Protection Strategies for Businesses
The Cook Islands provide several effective asset protection strategies, including:
Cook Islands Limited Liability Companies (LLC)
Cook Islands International Companies (IC)
| International Company (Corporation) | Limited Liability Company (LLC) | |
| Governing Legislation | International Companies Act 1981-82. | Limited Liability Companies Act 2008 |
| Ownership | Shareholders own shares. Any number of shares is allowed, and any currency and par value of shares. | Members own membership interest based on their contributions to the LLC. |
| Records of Owners | Shareholders register is held at the Registered Office of the Company only. No public record. | Members register is held at the office of the Resident Agent (trustee company) only. No public record. |
| Control / Management | Company run by the Director(s). | Company run by Manager(s) OR can specify that it is to run by its Member(s) only. |
| Records of Director(s) / Manager(s) | Registered with the Registrar of International Companies (government registry) and the Cook Islands tax authority. No public record. | Held by Resident Agent only. No public record. |
| Constitution / Rules of the Constitution | Memorandum and Articles of Association registered with the Registrar of International Companies. | Operating Agreement, copy to be held by Resident Agent. |
| Administrative and Record Keeping requirements | More stringent requirements as to meetings of shareholders and directors, documents to be filed with the Registrar etc. Records of decisions, and a copy of all accounting records must be kept with the Resident Secretary in the Cook Islands. | More flexibility. The Operating Agreement sets out how decisions are to be made. No filings required with the Registrar. Records of decisions, and a copy of all accounting records must be kept with the Registered Agent in the Cook Islands. |
| Limited liability of owners | Yes. | Yes. |
| Nature of legal entity | Separate legal person. | Separate legal person for most purposes. See notes below ref tax treatment. |
| Tax Treatment | No requirement to file annual tax returns if non-resident. Usually treated as separate tax entity in home country of the owners.* Standard common law remedies available to creditors of Shareholders. Ability to add special provisions to the Articles of Association to provide for the automatic vesting of shares upon happening of a specified event. | Stronger protection of ownership interests. Foreign judgments against membership interests have limited application. The sole remedy is a Charging Order against a membership interest. Strict provisions as to the application of a Charging Order. |
| Protection of Shareholder and Member interests against creditors of owners | Strict privacy provisions apply and there are no public records in the Cook Islands. | Strict privacy provisions apply and there are no public records in the Cook Islands. |
Should you require additional information, request a quotation or clarify any related matter, please contact one of our consultants who will be happy to assist with your enquiries.
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Inclusions
Year 1 Incorporation and service fees.
Optional Services (Bank Account opening, Nominee services, Certification of documents, amongst others).
Annual Renewal service fees for year 2 and subsequent years, to keep your company in good standing and full Compliant at all times.
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Our company is EXCLUSIVELY engaged in assisting worldwide clients, either individuals or corporate entities, to get duly and properly licensed with local Regulators and Financial Authorities to get respective official licenses to legally carry out their cryptocurrency or financial related business activities.
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Disclaimer: While TBA & Associates strives to make the information on this website as timely and accurate as possible, the information itself is for reference purposes only. You should not substitute the information provided in this article for competent legal advice. Feel free to contact TBA Customer Services for advice on your specific cases.
