Capital city: Avarua
Currency: New Zealand dollar (NZD) & Cook Islands dollar
Population: 13,100 (2016)
Language: Cook Islands Māori & English
GDP: US $295.2 million (2016)
The Cook Islands is located in the South Pacific Ocean (northeast of New Zealand, between French Polynesia and American Samoa) and is comprised of 15 islands whose total land area is 240 square km. The Cook Islands are a treasure trove from their sandy beaches lined with coconut palms to their mountainous interiors covered with dense rainforests harboring exotic tropical birds. Unbelievable game fishing lures anglers from around the globe and the diving and snorkeling is world class.
The Cook Islands were first settled in the 6th century by Polynesian people who migrated from Tahiti. Spanish ships visited the islands in 1595 with the sighting of Pukapuka by Spanish sailor Álvaro de Mendaña de Neira, who called it San Bernardo. British navigator Captain James Cook arrived in 1773 and 1777 and named the islands the Hervey Islands. The name “Cook Islands”, in honour of Cook, first appeared on a Russian naval chart published in the 1820s.
The Cook Islands is a self-governing country in free association with New Zealand. Since 1989 the Cook Islands have become a location specialising in asset protection trusts which investors use to shelter assets from the reach of creditors and legal authorities. The Cooks “generally disregard foreign court orders” and it is illegal to disclose the names or any information about Cook Island trusts.
Benefits of Setting up a Cook Islands Offshore Entity:
- There are no taxes on offshore profits.
- Only one director and shareholder needed to form an IBC.
- Meetings can take place anywhere in the world.
- Do not need to submit accounts.
- Reasonable annual license fee USD$300.
- The Cook Islands have very strict legislation that keeps foreign authorities from getting access to financial, tax or any offshore account information.
- Nominee account holders may be used for an additional level of privacy.
- No public registry of International Companies Information can only be obtained with permission from the Company itself (unless there is a criminal offences pending).
Further details available at Cook Islands Financial Services Development Authority.
"You’d be stupid not to try to cut your tax bill and those that don’t are stupid in business"
- Bono: U2