1. What are the tax advantages of an offshore company in the Cook Islands?
The various tax benefits are:
• No corporate tax
• No income tax
• Exemption of stamp duties
• No capital stock tax
• No sales tax
2. What is the currency of the Cook Islands?
The currency of the Cook Islands is New Zealand dollars.
3. What are the main corporate legislations for Cook Islands offshore company?
The corporate legislations for offshore companies are:
• International Companies Act 1982
• International Trusts Act 1984
• Limited Liability Company Act 2008
4. How is the exchange control in the Cook Islands?
There are no restrictions on the movement of funds, and transactions can be done in any currency.
5. Is the Cook Islands economically stable?
The economy of the Cook Islands is quite stable with tourism and offshore sector being some of the significant dominating sectors in the territory.
6. Are annual meetings compulsory for offshore companies?
Yes, an annual general meeting is required to be conducted annually in the jurisdiction.
7. How long does it take to incorporate an offshore company in the Cook Islands?
It takes about 3-4 days to incorporate an offshore company in the Cook Islands.
8. Are shelf companies available in the jurisdiction?
Yes, shelf companies are allowed and available for incorporation in the jurisdiction.
9. Do offshore companies require office space?
Yes, offshore companies should have a registered office in the territory of the Cook Islands.
10. Should offshore companies file for annual returns?
Yes, offshore companies in the Cook Islands should file for annual returns.
