Establish your Cook Islands LLC
The Cook Islands LLC
Renowned for its asset protection legislation and commitment to privacy the Cook Islands is a preferred jurisdiction for offshore entities seeking robust protection and discretion.
The Cook Islands offers a unique blend of LLC laws akin to the United States, coupled with added benefits unseen in traditional jurisdictions. From complete foreign ownership to stringent privacy measures, including the absence of public records regarding beneficial ownership, members, and managers, the Cook Islands LLC provides a sanctuary for safeguarding assets and financial privacy.
Benefits
Total Foreign Ownership: Foreigners can own all membership shares.
Tax-Free: No taxes are levied on Cook Islands LLCs. However, U.S. residents, like taxpayers in countries taxing global income, must disclose all worldwide income to the IRS. authorities.
Privacy: Beneficial owner, member, and manager information is not public.
Asset Protection: Laws make it challenging for creditors to access LLC assets.
English Language: English is one of the official languages, facilitating ease of communication.
Requirements
- Unique Name: Must differ from other entities in the Cook Islands.
- Registration: Submission of required information to the Registrar via a registered agent.
- Required information is completed during our onboarding form.
- Members: Minimum of one member, who can be a natural person or corporate body from any country.
- Managers: Only one manager is required, who can be from any country.
- Sole Member and Manager can be the same person
- Registered Agent: Required, included in establishment, but no need for a local registered office.
- Meetings: Annual meetings for members, which can be held anywhere.
- Officers: Not mandatory, but if appointed, they can be from any country.
- Audits and Accounting: No requirements for audits or filing financial statements.
Asset Protection
The Cook Islands LLC offers robust asset protection measures, shielding assets from potential creditors and legal judgments. Legislation explicitly states that foreign court judgments, orders, and injunctions against a member of a Cook Islands LLC cannot be enforced against the LLC and its assets. This provision offers a high degree of protection against claims and legal actions initiated outside the jurisdiction.
Tax Efficiency
Cook Islands LLCs enjoy favorable tax treatment, as there are no taxes levied on LLCs established within the jurisdiction as long as they do not conduct business there. This tax-efficient environment provides a conducive atmosphere for international business operations and asset management.
Privacy
Privacy is paramount in the Cook Islands LLC structure. Legislation mandates that the identities of managers, members, and beneficial owners remain confidential, not stored in any centralized register and protected from disclosure without reasonable cause. This provision reinforces the privacy and confidentiality standards upheld within the jurisdiction.
Flexibility
Cook Islands LLCs allow for flexible ownership structures, enabling foreigners to own 100% of the membership shares. Additionally, the management requirements are minimal, with only one manager required, who can be from any country. This flexibility allows for ease of operation and administration, attracting businesses and investors seeking simplicity and autonomy in their corporate structures.
