International Companies

The Cook Islands International Companies Act 1981-82 ("ICA") governs the formation and activities of international companies. The structure of the ICA allows companies to be formed and operated with both flexibility and administrative ease. International Companies must be incorporated through a licensed trustee company, which will handle the registration process and administrative duties.

Advantages:

1. Only one shareholder required

2. No minimum share capital requirement

3. Shares can be in any major world currency

4. Shares do not have to have par value

5. No obligation to disclose the beneficial ownership to regulatory authorities

6. Tax free status in the Cook Islands

7. Strict confidentiality provisions

8. Accounts do not have to be filed

9. No requirement for Cook Islands resident director

The Incorporation Process

Once all required information, and the initial fees have been received the trustee company can complete incorporation within 24 hours.There are two levels of information required:

1. Documents to enable registration with the Registrar; and

2. Documents and information required for internal due diligence procedures.

Upon incorporation the Registrar issues a Certificate which is valid for a period of 12 months and which may be renewed upon payment of the prescribed fee.

Professional and International Trustee Companies

The intended shareholder or beneficial owner of the company to be incorporated must complete a request to incorporate form along with a New Company information form. Every Director and Shareholder (or beneficial owner) of the company must complete a client information form and provide information such as full name, residential address, place of birth, nationality etc. They must all also provide a copy of their passport certified as a true copy by a lawyer, banker, or court official, and an original utility bill or bankers reference including the individual's name and address.

If any of the Directors or Shareholders are themselves corporate entities then the trustee company will require full information on such corporate entities including:

   1. A certified copy of its Certificate of Incorporation or registration in its place of incorporation, or a document of similar effect;

   2. A certified copy of its charter, statute or Memorandum and Articles of Association or similar constitution documents; and

   3. A certificate of incumbency or similar showing the list of its directors and officers.

The directors or shareholders of those entities will also be required to provide the same level of due diligence information described above.

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