The Cook IslandsThe Cook Islands was a British protectorate, and it retains its English common law background. It is now self-governing. It has long been stable, but its company operations have had problems with both New Zealand and Hong Kong in recent years. It is located in the South Pacific, west of Samoa.
Offshore Companies:
The Cook Islands has existing and proven legislation permitting companies to be rapidly and simply incorporated for the purposes of conducting offshore business operations in the form of an non-resident companies.
Setting up a non-resident company:
Such a company can be incorporated within 1-2 days.
Buying a non-resident company:
NACS can offer off the shelf companies upon request. Name changes can be accomplished rapidly.
Company name guidelines and restrictions:
The name must be in the Latin alphabet, any name can be chosen provided it is not already in use, it is not obscene, and it does not imply insurance, banking, royal, or governmental related operations or sponsorship.
Capital Requirements:
No minimum level required.
Local Registered Office Requirements:
A non-resident company must always maintain a registered office in the Cook Islands, and must appoint and retain a resident as the company's registered agent. NACS provides these services for a fee via its international associates.
Annual Company License:
This is acquired at the beginning and must be maintained annually thereafter. The annual license fees vary with the share capital of the company. Annual license fees not paid on time incur penalties.
Director Requirements:
At least one director must be appointed and maintained (who can be a corporate director ¡V which can be supplied by NACS). There is no residence or nationality requirement.
Shareholder Requirements:
There must be a minimum of one shareholder. There is no government register of shareholders required.
Company Secretary Requirements:
A company secretary is not required, but it is a normal practice. NACS normally will perform this function, for a fee.
Share Types Allowed:
Registered or bearer shares are permissible.
Taxation Requirements:
There is no taxation for an exempt company's operations, assets, or profits.
Exchange Controls:
There are no exchange controls.
Reporting Requirements:
No audited accounts are required to be filed, but an annual report is required.
Secrecy:
Secrecy of such company operations is strict, and is enforced.
Annual Tax/Filing Fee:
There is an annual license fee of US$ 600.00.