Foreign businessmen can start the process of company formation in the Cook Islands for both onshore and offshore businesses. It must be noted that the registration process can be completed online, once the investors have decided on the type of company they want to incorporate.
Our consultants can offer full Cook Islands company formation services, and this includes assistance in any online or offline registration procedures that may be required for the selected business form and industry in which the company will operate.
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Online registration
The process of company incorporation in the Cook Islands starts by creating a client account on the online platform made available by the Ministry of Justice. When creating the account, the user will be asked about several corporate details, such as the ones presented below:
- the company’s trading name – investors must initially provide a proposed trading name (in English), which will later be approved, provided that it meets the requirements;
- the company’s contact details – here, investors will be asked to offer details on the company’s registered office;
- the shareholders and directors (the personal identification data is required);
- the company’s statutory documentation (the constitution).
This means that, prior to engaging in the official Cook Islands company formation process, the owners of the company must complete all the above mentioned, meaning that they need to draw and sign the statutory documents, find a location which can be assigned as the company’s registered address, etc. For all these, our consultants remain at your service.
Once these basic registration requirements are established, the investors can complete the online registration and submit the electronic application, through which they can formally open a company in the Cook Islands (the necessary form required for this procedure is Form A-1).
After the application has been submitted, the applicants must wait several days until the authorities can issue the registration certificate (the document is issued as an electronic paper). This procedure is applicable to those who will incorporate a Cook Islands-based company.
Foreign businessmen representing foreign companies wishing to expand on this market must complete a separate, yet similar procedure (differences appear in the institutions involved in the authorization/registration process and the forms that must be completed).
Registering a business as a foreign company in the Cook Islands
Investors representing foreign companies must initially obtain approval from the Business Trade and Investment Board prior to establishing any business here. Some of the obligations are presented below:
- foreign companies must respect the provisions of the Section 18 of the Development Investment Act 1995/96;
- they also need to register on the online platform of the Ministry of Justice, but they need to complete the Forms AF1001A and AF1001B;
- foreign companies must pay a registration fee (NZD 750) – the requirement is applicable for local companies as well, only that the fee is much lower (NZD 75);
- the decision to set up a company in the Cook Islands for foreign businesses will be established in accordance with the rules of the Development Investment Act and fall under the responsibility of a Board of Directors, comprised of 5 members;
- in the case of a negative outcome, investors have the right to appeal the decision (in maximum 21 days since the date when the decision was issued).
As mentioned in the beginning of the article, investors have the possibility of starting the process of offshore company formation. This can be done by incorporating a Cook Islands International Company. Our consultants can assist in the process of offshore incorporation as well. You can also rely on us if you want to open an offshore bank account for business or personal purposes.