The Cook Islands low-risk approach to banking also enforces strict client confidentiality. At no time will the Bank discuss with an overseas third party the details of a client’s holdings, or even acknowledge the existence of such account, without the express prior permission of the client. At no time do we place the client at risk .Giving you the client a confidential banking system you deserve.
Available options for your Cook Islands Offshore bank account.
Total cost to open your Cook Islands Offshore bank account. $595
BANKING, FINANCE AND INVESTMENT
FINANCIAL FACTS
The Cook Islands had made its way onto the OECD blacklist several years ago, and has since passed a slew of laws and regulations to improve international financial cooperation, financial reporting, money laundering detection and a host other activity. In 2005 the Cook Islands was taken off that list.
Fiscal year: 1 April – 31 March
BANKING
Banking privacy at every level – from bank employees to government authorities – is taken very seriously in the Cook Islands. Identifying details are often not required on trusts and incorporation registration documents, and access to private account information requires a mountain of paperwork as well as substantial proof of need.
Cook Islands banking law requires that offshore corporation names are approved, as words such as Assurance, Bank, Building Society, Chamber of Commerce, Chartered, Cooperative, Imperial, Insurance, Municipal and Royal cannot be used in the name of the company unless specifically approved before registration.
MEMBERSHIPS
ACP, ADB, FAO, ICAO, ICRM, IFAD, IFRCS, IOC, ITUC, OPCW, PIF, Sparteca, SPC, UNESCO, UPU, WHO, WMO
FOREIGN INVESTMENT
The Cook Islands Monetary Board is the controlling authority over all foreign investment. If a company has more than one-third foreign interest, it must establish its business through the Monetary Board.
Foreign investment incentives include import tax exemption, corporate tax relief, work permits, no customs duty and other incentives.
REAL ESTATE
Land leases must be approved by the proper Cook Islands government authority only if the interested party is foreign, and only if the intended lease is over 5 years in duration.