Published
Sep 4, 2023
Updates:
Sep 16, 2024
Cook Islands
Price:
Delivery:
Legal forms:
Payment methods:
3 weeks
CIBC, CIPA
Document checklist:
1.Passport
2.Proof of Residence
Requirements:
Local legal address (Handled by B2B Hub)
Cook Islands
$
1500
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Registrar
Abbreviation
Phone
Ministry of Justice
commonly referred to as Ministry of Justice
+682 29 337
Location
Capital
Official languages
Population
Currency
ISO 4217
Avarua
Cook Islands
English, Cook Islands Māori
17,044
NZD
New Zealand Dollar
Delivery
-
Certificate of incorporation
-
Articles of association
-
Meeting minutes
-
Company stamp
Certificate of incorporation
Company stamp (By stempil.com)
Registration documents and guidance
FAQ for company formation in Cook Islands
Q: What is the process for forming a company in Cook Islands?
A: The process for forming a company in Cook Islands involves reserving your company name, drafting and filing the company's constitution, appointing a local resident as a director and registered agent, and registering your business with the Ministry of Finance and Economic Management.
Q: What are the different types of companies I can form in Cook Islands?
A: The most common type of company formed in Cook Islands is the International Business Company (IBC), which is a type of offshore company designed for international business activities.
Q: What is an International Business Company (IBC)?
A: An International Business Company (IBC) is a type of offshore company that can be used for a variety of international business activities, including asset protection, international trade, and investment.
Q: What are the minimum requirements for company formation in Cook Islands?
A: The minimum requirements for company formation in Cook Islands include having at least one shareholder and one director, appointing a local resident as a registered agent, and having a registered office address in Cook Islands.
Q: How long does it take to form a company in Cook Islands?
A: The time it takes to form a company in Cook Islands can vary depending on the specific requirements involved. Generally, it can take between one to three days to complete the entire registration process.
Q: What are the tax implications of forming a company in Cook Islands?
A: Companies formed in Cook Islands are not subject to income tax, capital gains tax, or withholding tax. However, companies may still be subject to tax laws in their home country and should seek advice from a tax professional.
Q: What are the ongoing compliance requirements for companies in Cook Islands?
A: Companies in Cook Islands are subject to annual filing requirements and are required to maintain proper accounting records. It is important to work with a qualified professional to ensure that you remain compliant with all applicable laws and regulations.
The Cook Islands is a small nation located in the South Pacific Ocean. It has a population of approximately 17,000 people and a GDP of $400 million. The economy of the Cook Islands is largely dependent on tourism, which accounts for around 60% of the country’s GDP. The country also relies heavily on remittances from overseas workers, which account for around 20% of GDP. The Cook Islands also has a strong agricultural sector, which contributes around 10% of GDP. Fishing and forestry are also important industries in the Cook Islands, accounting for around 5% of GDP. The country has a low unemployment rate of around 4%, and the inflation rate is relatively low at around 2%. The Cook Islands has a strong banking sector, with the National Bank of the Cook Islands being the largest bank in the country. The Cook Islands also has a strong currency, the New Zealand dollar, which is pegged to the US dollar. Overall, the Cook Islands has a strong and stable economy, with a strong focus on tourism and remittances.
The Cook Islands is a self-governing territory in free association with New Zealand, and its tax system is largely based on New Zealand's tax laws.
For individuals, income tax is progressive and ranges from 10% to 33%, depending on income levels. There are no social security contributions or capital gains taxes in the Cook Islands. The tax year runs from April 1st to March 31st of the following year, and tax returns are typically due by July 31st of the following year.
For corporations, the income tax rate is 20%, and there is no capital gains tax or withholding tax on dividends. However, there are a number of other taxes that may apply to businesses operating in the Cook Islands, such as a value-added tax (VAT) at a rate of 15%, payroll taxes, and stamp duties.
The Cook Islands has a simple tax system with relatively low tax rates, which is attractive for both individuals and businesses. The tax authority in the Cook Islands is the Revenue Management Division of the Ministry of Finance and Economic Management. Payment of taxes can be made at designated payment centers or through online channels.
Overall, the Cook Islands has a favorable tax environment, with a relatively simple tax system and low tax rates. Taxpayers are encouraged to seek advice from local tax advisors or government authorities for further information on tax obligations and requirements.
Application without registration
The first director
The second director
The third director
The first shareholder
The second shareholder
The third shareholder
Articles
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