Cook Islands (LLC) Limited Liability Company Registratrion
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Cook Islands LLC Registration
A Cook Islands Limited Liability Company (LLC) is a flexible offshore company model that gives a broad foundation, allowing the company to form its structure according to its own rules, rather than through a rigid mandate.
As the demand for flexible offshore company structures became apparent within the offshore market, the Cook Islands International Limited Liability Companies Act 2008 was passed, echoing the continuing growth of the Cook Islands offshore sector. The passing of this piece of legislation makes the Cook Islands one of the most strategic jurisdictions to form a Limited Liability Company.
An LLC is a blend of both partnership and corporate structures by providing a layer of limited liability, protecting owners from the debts incurred by the LLC. A Cook Islands LLC offers further protection from the strong arm of foreign governments and creditors, by separating the rights of its members and that of the LLC. A Cook Islands LLC coupled with a Cook Islands International Trust is the strongest, single-jurisdiction offshore asset protection product currently available.
The Cook Islands continue to grow as an offshore financial destination, while at the same time frequently amending their offshore protection laws, ensuring the security of investors. A Cook Islands LLC has a number of Advantages enjoys structural flexibility, complete confidentiality, as well as minimal reporting and regulating procedures. It is no wonder why today the Cook Islands is the most exciting place in the world to establish an offshore presence.
For more information on the Advantages of Cook Islands as an Offshore Financial Center, click here
Table of Contents:
- Advantages of a Cook Islands LLC
- Enhanced Privacy Law
- Confidentiality
- Enhanced Creditor Protection
- Top Uses of a Limited Company
- Key Corporate Features
- Packages Includes
- Document Requirements
- Taxation of a Cook Islands Structure
- Limited Liability Company Corporate Details
Advantages of a Cook Islands LLC
A Cook Islands LLC has a number of advantages that individuals and investors may benefit from, including but not limited to:
- Annual filing of accounts are not required
- Shareholders and Directors is known only by the trustee company
- Foreign creditors are limited in their capacity
- Foreign court orders are not recognized by the Cook Islands
- Members and Managers cannot be held liable for the debts of the LLC
- Flexibility of LLC structure as defined by the LLC rather than a restricting legislative mandate
- The LLC can be managed by the members or by managers independent of the members
- Complete confidentiality
- Less administrative processes than most corporations
- Asset protection benefits are not found anywhere else in the world
- Anonymity
- Flexibility
- Single Member LLCs are permitted
- No requirement for local presence
- Transfer of existing LLCs to the Cook Islands is possible
- Supportive and strong asset protection and privacy legislation
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Enhanced Privacy Law
No public LLC Registry—information may only be obtained from the Company itself
Confidentiality
No requirement to prepare annual accounts, appoint auditor or disclose any information to any Cook Islands authority. The only information that is given is through an annual return with the Registrar, giving the name of the LLC and address of the Registered Agent.
Enhanced Creditor Protection
A creditor cannot issue a charging order or interfere with the operations of the company nor seize, liquidate or force the dissolution of the company, however a Cook Islands LLC is not a substitute for an International Trust—the Cook Islands flagship asset protection product.
Top Uses of a Limited Company
The operating agreement of a Cook Islands LLC may contain provisions for the conduct of any type of business as long as it is lawful. This includes but is not limited to businesses dealing in:
1. Real estate
2. Estate planning
3. Tax structuring flexibility
4. Confidentiality of assets
5. Asset protection*
* Used in conjunction with a Cook Islands International Trust, provides the most secure form of asset protection available.
Key Corporate Features
| Cook Islands LLC | Corporate Details |
| General | |
| Type of Entity | Limited Liability |
| Type of Law | English Common Law |
| Governed by | Limited Liability Companies Act 2008 |
| Registered Office in Cook Islands | No (but must have a registered local agent) |
| Our time to establish a new company | 3 days |
| Minimum government fees (excluding taxation) | USD $200 |
| Corporate Taxation | No |
| Access to Double Taxation Treaties | No |
| Managers | |
| Minimum number | One |
| Local required | No |
| Publicly accessible records | No |
| Location of meetings | Anywhere |
| Corporate directorship allowed | Yes |
| Members | |
| Minimum number | One |
| Publicly accessible records | No |
| Corporate shareholder allowed | Yes |
| Location of meetings | Anywhere |
| Company Secretary | |
| Required | No |
| Local or qualified | No |
| Accounts | |
| Requirements to prepare | No |
| Audit requirements | No |
| Requirements to file accounts | No |
| Publicly accessible accounts | No |
| Recurring Government Costs | |
| Minimum Annual Tax | USD $200 |
| Annual Return Filing Fee | USD $200 |
| Other | |
| Requirement to file annual return | Yes |
| Migration of domicile permitted | Yes |
Packages Includes
- Government Registration Fee (First year)
- Registered Office Address (First year)
- Registered Agent Services (First year)
- Company Secretarial Maintenance
- Certificate of Organisation
- Articles of Organisation
- Minutes of First Organisers Meeting
- Ownership Certificates
- Register of Members
- FREE Phone and/or email consultations
Document Requirements
The requirements to register a Cook Island LLC are straightforward. A registered agent, acting through a Cook Islands trustee company will submit the necessary documents needed to the Registrar, including:
- Name of the LLC
- Registered address of the LLC
- Name and address of the registered agent
Taxation
A Cook Islands LLC enjoys many tax breaks and incentives including but not limited too:
- No corporate tax
- No income tax
- No capital gains tax
- No sales tax
- No tax on issuance of corporate shares
- No tax to shareholders
- No property tax
- No estate tax
- No gift tax
- No stamp tax
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Limited Liability Company Corporate Details
Official Language
The official language is English although Cook Islands Maori is spoken amongst the local population.
Type of Law
English Common Law
Principal Corporate Legislation
Limited Liability Companies Act 2008
Registered Office
No. But must have a locally registered agent
Minimum Government Fees
USD $200
Publicly Accessible Records
No
Accounts
There are no requirements to prepare, audit, or file accounts
Taxation
Any International Company incorporated in the Cook Islands is exempt from all local taxation.
Managers and Members
Single member LLCs are permitted
Double Tax Treaties
There are no Double Tax Treaties agreements although the Cook Islands have signed sixteen different Tax Information Exchange Agreements with other countries. However, this provision is only related to criminal matters as the Cook Island authorities never respond to foreign court orders or tax information-related requests.
Legislation and Limited Liability
The Limited Liabilities Companies Act 2008 recognizes that the member/manager and the LLC are separate legal entities. Consequently, an action against a member is not sufficient for any injunctions to be used against the LLC.
Protective Provisions
Two year statute of limitations on fraudulent transfers
Complete bar on claims against a trust that is funded while the settlor is solvent
There must be a substantial burden of proof that is beyond a reasonable doubt
Non-recognition of foreign judgments
Cook Islands LLC Company Incorporation with Offshore Protection
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