The Cook Islands International Companies Act 1981 (“ICA”) governs the formation and activities of international companies, otherwise known as IBC’s, Offshore Companies, or Offshore Corporations. The ICA allows companies to be formed and operated with both flexibility and administrative ease. International companies are exempt from all tax in the Cook Islands.
We can incorporate a new company within 24 hours of receipt of our application forms and payment of fees.
Please contact us to obtain the application forms and fee schedule.
Some of the features of Cook Islands International Companies include:
- Only one shareholder required
- No minimum share capital requirement
- Shares can be of No Par Value
- Shareholders can agree to waive AGMs and appointment of an auditor
- Only one director required
- No requirement for Cook Islands resident director
- Name can by in any language and script, so long as the name includes words denoting limited liability
Cook Islands Trust Corporation Ltd provides the full range of administrative and accounting services to international and foreign companies including:
- Provision of standard memorandum and articles of association
- Incorporation and annual renewal
- Provision of resident secretary and the registered office
- Maintenance of accounting records, preparing financial statements and conferring with auditors as required
- Provision of share register and transfer agent
- Opening and administration of bank accounts
- Liquidation of companies
Additional Benefits of Incorporating in the Cook Islands
Enhanced Privacy Law
There is no public registry of International Companies, and information can only be obtained with permission from the Company itself. The Registrar only holds name and address details of the Directors. Shareholder information is only held at the registered office of the company (being CIT).
There are significant penalties for breach of confidentiality provisions.
Exceptions to privacy exist in cases of serious criminal activity.
Ongoing Administrative Requirements
There is no requirement to hold an Annual General Meeting. The Company can pay its renewal fees and file a basic annual return effectively confirming that the provisions of the ICA have been complied with, and any changes to the Company have been lodged with the Registrar. Cook Islands Trust Corporation Ltd can attend to the preparation and filing of the annual return. Financial statements and accounting records should be provided to the Resident Secretary to hold with the company records, along with copies of all director minutes and resolutions.
Name Selection and Language
Name availability can be cleared immediately upon request. The Company name can be in any language and script, so long as the name includes words denoting limited liability. Certain words are prohibited, such as “royal”, “trust” “bank” etc. Company documents must be in English, though certified foreign translations are available.
Copies of company documents may affixed with Hague Convention Apostille in the Cook Islands where required for banking and other requirements.
Please contact us to obtain the application forms and fee schedule for International Companies.