International Companies

The Cook Islands International Companies Act 1981 (“ICA”) governs the formation and administration of international companies.

International Companies must be incorporated through a licensed trustee company. Cook Islands Trust Corporation Ltd handles all aspects of incorporation, and provides ancillary company services.

Features

Some of the features of Cook Islands International Companies include:

• No public record of shareholders or directors
• Only one shareholder required
• No minimum share capital requirement
• Shares can take advantage of special asset protection provisions
• Shareholders can agree to waive AGMs and appointment of an auditor
• Only one director required
• No requirement for Cook Islands resident director
• Corporate Directors are permitted
• Subject to the domestic tax regime in the Cook Islands

Tax Status

• International Companies will not be Cook Islands tax resident for Income tax purposes if they are controlled and managed outside of the Cook Islands. But current rules mean that a 15% withholding tax on dividend, interest and other payments applies. All companies are required to register with the tax authority, obtain a tax ID number, and file tax returns and financial information annually.
• All new companies will be required to register with the Cook Islands tax authority, obtain a tax ID number, and file tax returns and financial information annually.