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Cook Islands

Cook Islands Flag

Country: Cook Islands
Region: Pacific
Currency: New Zealand Dollar (NZD) (NZ$), Cook Islands Dollar (CI$)
Languages: English, Cook Islands Maori
Time Zone: UTC -10

Phone Code: +682

Communications: OK

Formation Cost: 1800 - 2400 USD$
Formation Time: 3-8 days
Maintenance cost: 1500 - 1900 USD$

Executive Summary: Located in the South Pacific Ocean approximately half-way between New Zealand and Hawaii, the Cook Islands are a widely scattered group of islands occupying a surface area of about 240 sq km. As a legacy of its status as a British protectorate, the legal system is based on English common law and the official language is English, but the jurisdiction is now a self-governing democracy. The Cook Islands’ geographic isolation and their lack of natural resources have hindered economic development. Offshore financial and fiduciary services are now the second largest contributor to Government finances, and there are special regimes for banks, captives and trust management, which is the biggest offshore sector. Domestic companies pay 20% tax on worldwide income. Non-resident companies pay 28% tax on profits derived from income sourced in the Islands. However, offshore entities are exempt from Cook Islands taxation.

Suitable for: Fund Management
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Company Purpose Stats:

Wealth Management:

 

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Vehicle Types: Limited companies, IBCs, trusts, foreign companies and limited partnerships

Capital primary business districts: Avarua

Good Relationships: Australia, Marshall Islands, New Zealand, Niue, Papua New Guinea, Vanuatu

Bad Relationships: Burma, Egypt, Iran, Libya, Somalia, Sudan, Syria

Tax Burden - Business: Moderate

Tax Burden - Individual: Moderate

Headline tax rates: CIT 20%, PIT 20%-30%, VAT 17%

Treaty Jurisdictions: None

TIEA Jurisdictions: Australia, Denmark, Faroe Islands, Finland, France, Germany, Greece, Greenland, Iceland, Ireland, Italy, Korea, Republic of, Mexico, Netherlands, New Zealand, Norway, South Africa, Sweden

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Important Notice: Wolters Kluwer (BSI) Limited has taken reasonable care in sourcing and presenting the information contained on this site, but accepts no responsibility for any financial or other loss or damage that may result from its use. In particular, users of the site are advised to take appropriate professional advice before committing themselves to involvement in offshore jurisdictions, offshore trusts or offshore investments.

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