Cook Islands IBC

What’s Included?

• Registered and operational company
• Complete application process handled on your behalf
• Due diligence checks conducted as part of the service
• Drafting of country-compliant company documents such as the operating agreement
• Coverage of all third-party costs, including first-year registration fees with the appropriate government body
• Application guide outlining each step of the application process.

The Cook Islands International Business Company (IBC) is an increasingly popular option for individuals and businesses aiming to create a corporate entity in a confidential and secure offshore jurisdiction. Unlike many other jurisdictions, the Cook Islands does not list shareholders and directors on any public beneficial ownership registers, ensuring greater confidentiality.

Key Benefits:

• Flexible Management Structure: Sole shareholders and directors are permitted and directors need not be resident in the Cook Islands. A resident secretary is required which must be an officer of a licensed Cook Islands trustee company.
• Strong Anti-Creditor Legislation: Foreign judgments are not recognized in the Cook Islands, requiring creditors to bring their case before the Cook Islands High Court.
• Limited Liability: A shareholder’s liability is limited to the capital investment.
• Confidentiality and Privacy: There is no Beneficial Ownership register. The identities of managers, members, and beneficial owners are confidential, not retained in any centralized register, and cannot be divulged without reasonable excuse.
• Asset Protection: Take advantage of the Cook Islands’ robust asset protection and privacy laws, ensuring your assets are shielded from legal claims, creditors, and judgments.
• Tax Efficiency: Enjoy tax exemption on income generated outside the Cook Islands. The IBC functions as a pass-through entity, with earnings taxed according to the individual’s country of residency.
• Legal Stability: Conduct business within a stable legal and regulatory framework.
• International Recognition: Benefit from the Cook Islands’ global respect and recognition, enhancing your international business operations.
• Unique Uses: Can be used in conjunction with yacht registration in the Cook Islands.

About the Cook Islands: The Cook Islands, nestled in the South Pacific, holds strategic significance as an offshore financial center. Its geographical proximity to major regions like New Zealand and Australia makes it an appealing choice for individuals and businesses seeking to establish offshore structures. The Cook Islands is renowned for its friendly and professional government body, that continues to uphold its strength and reputation as a premier offshore financial center.

Other Requirements:

• Notification of Changes: Any changes in shareholder, director or secretary must be notified to Registrar within 30 days.
• Resident Secretary: A resident secretary is required which must be an officer of a licensed Cook Islands trustee company.

The Structure:

• Shareholder(s): Cook Islands IBCs are structured around shareholders, who can encompass individuals or corporate entities. They hold shares that signify their ownership stake in the company. Cook Islands IBCs offer flexibility, allowing for one or multiple shareholders, with their details maintained confidentially.
• Director(s): Cook Islands IBCs mandate at least one director, who can be an individual or a corporate entity. Importantly, directors are not bound to residency in the Cook Islands, granting further flexibility.
  • It is common for the person establishing the IBC to appoint themselves as the sole Shareholder (100% ownership) and Director
• Share Capital: Cook Islands IBCs can establish authorized share capital, typically outlined during incorporation. This authorized share capital serves as the basis for issuing shares to shareholders, denominated in any chosen currency. The share capital structure entails key components including currency denomination, the maximum number of authorized shares, the initial issuance quantity, and the par value per share, representing its nominal or minimum value upon issuance. The required minimum share capital is $1 USD per share, which must be fully paid by the shareholder. Thus, a single shareholder must pay $1 USD to the company.
  • For instance:
    • Currency Denomination: USD
    • No. of Authorized Shares: 50,000
    • No. of Issued Shares: 1
    • Par Value of Each Share: $1 USD
• Articles of Incorporation: The company’s structure and operations are governed by its Articles of Incorporation. These articles outline details such as the company’s name, registered office address in the Cook Islands, share capital structure, and internal management protocols.
• Registered Agent: A registered agent in the Cook Islands is required and included in your incorporation fee.

Establishing a Cook Islands IBC through OCO’s efficient onboarding process can see your IBC operational in just 2-5 days. This setup offers a reliable solution for those seeking asset protection, tax efficiency, and confidentiality within a reputable offshore jurisdiction.

View the full governing legislation here: Cook Islands Finance – Legislation