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Cook Islands Offshore Company

The Cook Islands are islands that are scattered mid way between New Zealand and Hawaii in the South Pacific. Offshore infrastructure was put in place as early as 1981, and the offshore regimes includes company formation, banking, insurance, and trust management. Cook island offshore companies and offshore trust do not pay any taxes, except for stamp duties. All offshore companies are registered under the international companies Act 1981-2.

Offshore companies in the Cook Islands are synonymous with the Cook Island International Business Company, Cook Islands IBC or Cook Island Offshore Company and are terms generically used to refer to International Companies. The Cook Islands International Company is the same as an IBC, and is used strictly for offshore operations. The International Companies Act of 1981/1982 regulates Cook Island offshore companies.

To incorporate a Cook Islands Offshore company, only one director and one shareholder is required, and the director can be the same person as the shareholder. Corporate entities can own Cook Island offshore companies or can hold shares in the offshore company. The company must appoint a secretary which must be a trust company that is registered in the Cook islands.

The Cook Islands offshore company’s Memorandum of Association and the Articles of Association are the two main incorporation documents. W identity of the beneficial owners of the Cook Island offshore company is not shared with anyone and its confidentiality is upheld by law. Furthermore, the Cook Islands have not signed information exchange agreements with any foreign jurisdiction.

All cook island International Business Company must file annual returns and must maintain records at the IBC’s registered office along with information on the directors, shareholders, company secretary and any other company officer appointed. The Cook island offshore company requirements for incorporation show how flexible the corporate structure is. There is no legal requirement to hold annual general meetings for the offshore company.

Under the Cook Island International Companies legislation, offshore companies can issue bearer shares and bearer debentures and shares of no par value are permitted. There is no minimum share capital requirements specified for the Cook Island companies. Cook Island IBCs have the power to purchase some or all of the shares its owns or the company may reduce its own share capital without the restriction. The articles of association of an International Cook Island Company can be drafted so as to allow for the membership interest of any shareholder to be bequeathed to a specific beneficiary upon the occurrence of a specified event such as death

Cook islands companies with offshore designation do not have to file accounts nor do they need to conduct audits. Exceptions are for cook island companies that operate offshore banking or insurance business under a license;

No stamp duty is charged on corporate documents

Cook Islands international business companies can engage in most types of legal businesses except for banking, insurance and trustee services. These specific businesses require distinct licensing and are managed and maintained under separate laws regulations.

In addition to the general international trading activities, Cook Island IBCs are suitable offshore companies for shipping business, money management, real estate investing software development and entertainment. All Cook Island International business companies are restricted from doing business within the Cook Islands or with residents of cook island. All business must be conducted offshore. Residents of the Cook Islands are prohibited from holding a beneficial interest in an International. Cook island IBCs are are incorporated within five working days.