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Cook Islands: Types of Company

Introduction

The Cook Islands Parliament passed legislation in June 2008 to allow international Limited Liability Companies (LLCs) to be formed in the Cook Islands. The Limited Liability Companies Act 2008 provides for the method of formation, administration and conduct of LLCs.

The LLC is an increasingly favoured form of corporate vehicle because of simplicity when compared to the older form of company structure as it does not have such complicated provisions for determining rights between shareholders. The LLC has limitations on the ability of a creditor to attach to the assets of the company. The recently passed legislation makes the Cook Islands one of the most advantageous jurisdictions in which to establish an LLC. The cost for registering an LLC in the Cook Islands is $US200.

Every LLC must have a registered agent in the Cook Islands and the registered agent must be one of the trustee companies registered in the Cook Islands.

Filing and renewal fees are USD200 each (2012).

 

 

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