Cook Islands LLC + Bank Account

What’s Included?

• Operational bank account
• 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 Limited Liability Company (LLC) is a versatile offshore company structure designed for global businesses and individuals seeking robust asset protection. Established in 2008 and modeled after the successful frameworks of Nevis and the U.S., the Cook Islands LLC offers modern flexibility and robust asset protection, the legislation blends limited partnership and corporate features, safeguarding members through strict separation.

Adding a bank account to your Cook Islands LLC allows you to take full advantage of the jurisdiction’s advantages while effectively managing and growing your wealth. By opening a bank account, you gain access to a suite of financial services designed for international clients, enabling streamlined financial operations and enhanced asset security. Our bank account offerings include multicurrency accounts, interest bearing accounts, self-managed trading accounts, managed investment accounts and named IBAN accounts.

Key Benefits

• Flexible Management Structure: Legislation allows single-member LLCs that can be managed by the member themselves or by appointed managers.
• Strong Anti-Creditor Legislation:
  • Limited Creditor Remedies: The sole remedy available to creditors is a non-renewable five-year charging order on the LLC membership interest. For example, if a court rules in favor of a creditor, they can only obtain a charging order on your LLC interest for five years, during which they cannot force distributions, interfere with management decisions, or liquidate the LLC. Once the charging order expires, the creditor loses any claim against your LLC interest.
  • Local Enforcement Only: Foreign judgments are not enforceable in the Cook Islands, requiring creditors to bring their case before the Cook Islands High Court.
• 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: Benefit from the Cook Islands’ stringent asset protection and privacy laws. Shield your assets from legal claims, creditors, and judgments.
• Tax Efficiency: Enjoy tax exemption on income generated outside the Cook Islands. The LLC operates as a pass-through entity, with earnings taxed based on individual residency.
• Legal Stability: Operate within a stable legal and regulatory environment.
• International Recognition: Benefit from global respect and recognition, facilitating international business activities.
• Minimal Reporting Requirements: Experience reduced administrative burdens with minimal reporting and record-keeping requirements.
• Strategic Remote Location: Ensure continuity and security in times of political or global turmoil.
• Diverse Banking Options: Choose from a variety of banking providers offering multicurrency accounts, interest bearing accounts, self-managed trading accounts, managed investment accounts and named IBAN accounts. We have a degree of flexibility with our banking arrangements that allows for tailored financial solutions that meet the specific needs of each client.
• Unique Uses: Can be used in conjunction with yacht registration in the Cook Islands.

About the Cook Islands: Located in the South Pacific, the Cook Islands are renowned for their secure and stable offshore financial environment, making them a preferred jurisdiction for safeguarding wealth.

The Structure:

• Member(s): Cook Islands LLCs can have one or more members, including individuals, companies, or trusts. Members hold ownership interests, which can be based on percentage ownership. Single-member LLCs are allowed and can be managed by the member or appointed managers.
• Manager(s): The LLC can be managed by one or more managers, who may or may not be members. Managers handle decision-making and ensure smooth company operations.
  • It is common for the person establishing the LLC to appoint themselves as the sole Member (100% ownership) and Manager
• Operating Agreement: The LLC operates based on an operating agreement outlining the rights, responsibilities, and duties of members and managers. This is included in your incorporation fee
• Registered Agent: A registered agent in the Cook Islands is required and included in your incorporation fee.
• Bank Account: The bank account is owned by the LLC and managed by the manager (or manager-member).

Establishing a Cook Islands LLC + Bank Account through OCO’s efficient onboarding process can see your LLC 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