The Cook Islands is a self-governing parliamentary democracy in free association with New Zealand. The 15 small islands in this South Pacific Ocean Country have a total land area of 240 km2 (92.7 square miles), but the Cook Islands Exclusive Econimic Zone covers 1,800,000 km2 (690,000 square miles) of ocean. Tourism is the country’s main industry, and the leading element of the economy, far ahead of offshore banking, pearls, marine and fruit exports. The main population centres are on the island of Rarotonga, where there is an international airport. There is also a much larger population of Cood Islanders in New Zealand, particularly the North Island.
Key Corporate Features
- At least 1 Director, whether an individual or a company.
- No restriction on the nationality of the Director.
- At least 1 Shareholder, whether an individual or a company.
- No restriction on the nationality of the Shareholder.
- Share Capital
- No minimum paid-up capital is required.
- Standard authorized capital is USD50,000.
- No tax is payable to the Cook Islands authorities on the company’s worldwide profits.
- Reporting Requirement
- There is no requirement to file audited accounts with the authorities.
- However, an annual return has to be filed with the authorities.
- Time Taken to Incorporate
- About 2 days