The Cook Islands
 The Cook Islands is located in the South Pacific Ocean due south
of Hawaii. Named after captain James Cook, the English explorer, the country
consists of 15 islands spread over 1 million square miles of ocean. The island
of Rarotonga is the capital, and home to more than 60% of the population.
English is the every day language.
Originally a colony of Britain, then New
Zealand, the Cook Islands achieved limited self government in 1957, and became
“self governing in free association” with New Zealand in 1965. It is now a fully
sovereign state with its own parliament, universal suffrage, and general
elections every 4 years. All Cook Islanders hold dual New Zealand and Cook
Islands nationality and the country continues to enjoy a close relationship with
New Zealand.
The judicial system in the Cook Islands is
highly regarded. The Court system is hierarchical, beginning with the High
Court, the Court of Appeal, and a further and final right of appeal to the Privy
Council in England. All judges are senior judges chosen from the Court of Appeal
in New Zealand.
 The offshore centre was established in 1981
initially targeting markets in Australasia and driven by merchant banking
transactions. In 1989 the Cook Islands became the first country to introduce
asset protection laws and it remains the leading jurisdiction for asset
protection trusts. This industry now dominates the financial centre.
The Cook Islands is in the same time zone as
Hawaii making it particularly well placed for doing business with United States
based clients. While the Cook Islands is geographically isolated it maintains
excellent connections with the rest of the world with modern communication
systems and regular flights to Los Angeles, Tahiti, and Auckland.
The thriving offshore industry is a major
contributor to total government revenue. The other important contributors to the
economy are tourism and cultured pearl farming. |
