Cook Islands company
The Cook Islands are situated in the South Pacific near New Zealand and consist out of 15 different islands. They enjoy a stable political climate and are under the protection of New Zealand, but remain independently governed. Tourism makes up the basis of the economy as well as the fishing and manufacturing industries. The nation makes for the perfect spot for offshore business due to the lenient taxation laws implemented.
The Cook Islands have two million square kilometres of free economic zone. The islands specialise in asset protection and confidentiality when it comes to the business dealings inside the country. The foreign court orders are generally disregarded and the names of the trusts set up in the islands are not disclosed under any condition.
All international entities are exempt from tax and privacy is strengthened even further in this regard. This is the number one reason why the Cook Islands are seen as a tax haven for so many entrepreneurs.
There are many benefits for setting up an offshore entity in the Cook Islands. Of shore profits are not subject to any taxes and the offshore company can be started by only one director. Corporate directors are allowed and meetings can be held anywhere in the world. Entrepreneurs do not have to submit accounts and all paperwork or business dealings are kept confidential. The annual license fee is only $300 and there is no minimum share capital required. Shares may be of no par value and may be in any currency. There is no requirement to file annual accounts and nominee account holders may be used as an additional level of privacy.
Moreover, the islands have very strict legislation that prevents foreign authorities from getting access to offshore information and no public registry of International Companies may be obtained with permission from the company itself.
For more information on company formation in the Cook Islands contact us today and a formation agent expert will assist you.