How Much Does a Cook Islands Trust Cost?
- Last updated on . Written by Offshore Protection.
An asset protection trust is one of the best ways to protect assets from being seized by creditors, lawsuits, or any other claims. However, several considerations determine whether an asset protection trust makes sense for your specific needs.
Asset protection is worth the cost if you have assets to protect in the first place, as it ensures your assets will still be there in times of duress.
Table of Contents:
- The Cost: When Is It Worth It?
- How Much Does A Cook Island Trust Cost To Setup?
- How People Use Them
- Can You Get An Entity For $10,000USD?
- How Are Entities Taxed?
- Is It For You?
The Cost: When Is It Worth It?
There are two main types of trusts. A Domestic Asset Protection Trust or (DAPT) and costs about 1,000 - 5,000 USD to set up, while a Foreign Asset Protection Trust or (FAPT) costs between 5,000 - 25,000 USD.
There are many different trusts out there, including Living Trusts, Revocable Trusts, Irrevocable Trusts, Annuity Trusts, Charitable Trusts etc...Extra fees might be associated with setting up the trust depending on which type of trust you need.
There is no single answer to how much a trust costs as it can differ. There is also no single answer if a trust is right for you as it will depend on your specific financial situation. Get in touch to get a financial plan and a price quote for your particular situation.
How Much Does a Cook Island Trust Cost To Setup?
Offshore Protection can establish a Cook Islands for $12,000 USD. This includes everything you need to set up a trust, including legal advice, incorporation documents, bank accounts, trustees and beneficiaries.
A Cook Island trust will cost you several thousand dollars yearly for renewal and government fees.
If you have done your research you will know that many U.S. law firms charge anywhere from $25,000 - 50,000. We can provide a cook islands trust for less than half the price because we are not based in the United States. Our law offices are based in Panama City, Panama, and we have established working relations with firms in the Cook Islands for over 25 years, making it so that we can charge less.
The trust industry began during the Middle Ages when people wanted to keep their property safe from thieves. They had no idea how to do it, so they turned to trusted friends and family members. These individuals became known as trustees. As the centuries passed, trusts evolved into what we know today.
The Cook Islands trust was created in 1987 and has become one of the world's most popular asset protection trusts. The Cook Islands have a modern legal system and are politically stable.
How People Use Them
The Cook Islands are located in the South Pacific Ocean and are known for their white sandy beaches and turquoise waters. The Cook Islands are made up of 15 islands with a total population of about 21,000 people.
Cook Islands trusts are frequently used to protect assets from creditors, a divorce, judgments or any legal dispute. Trusts allow people to protect their assets from creditors, family members, or even themselves.
The Cook Islands have strict asset protection laws that make it difficult for creditors to seize assets in a Cook Islands trust. Creditors must first obtain a court order in the Cook Islands before they can begin any legal action against the trust.
The Cook Islands also have a "perpetual succession" law which means that the trust can continue indefinitely even if the settlor dies or becomes incapacitated.
A Cook Islands trust is not only for people who are facing financial difficulties but for anyone who wants to protect their assets from future problems.
For more>> How to set up an offshore Cook Islands Trust
Safeguard Your Assets With the Strongest Multi Jurisdictional Asset Protection Structure in the World
Can You Get an Entity for $15,000USD?
Yes you can! An offshore trust does not have to be expensive, but there are some things you need to consider when setting up an offshore structure. There are many types of trusts, each with varying complexity and costs. If you're considering an offshore trust, make sure you understand what you're getting into. Here are five questions to ask yourself about an offshore trust:
1. How long do I want my assets protected for?
2. What type of trust am I looking for?
3. What type of assets am I looking to protect?
4. Do I want to have the trust held for future generations?
5. Do I have any immediate legal issues that involve my assets?
An offshore trust is one of the best ways to protect your wealth. It allows you to hold physical property, intellectual property, or any other asset you might have.
An offshore trust is where all assets are held and administered by trustees who live outside of the United States or the country where you live. Assets held offshore cannot be seized by creditors because the trustee is not subject to the jurisdiction where the legal case is being tried.
This makes it possible to keep it from being broken into by hidden creditors or courts, as any legal case must be brought forward within the Cook Islands itself for the case to proceed. Even if a case is brought forward there are many barriers to entry.
Go Deeper >> Offshore Trust Costs
How are Entities taxed?
A Cook Islands trust is an irrevocable trust that is exempt from taxes in the Cook Islands. The Cook Islands has no capital gains, estate, or gift tax.
The amount of taxes you will have to pay will depend on where you live. The Cook Islands does not tax any foreign trust. The only taxes that you will be obligated to pay is what you are required to pay in your home country.
This will be different for everybody as each country has its own laws that will govern taxation on foreign-held assets, which usually fall under a country's CFC laws.
Is it For You?
We suggest you get in touch to find out. We are free offshore consultations to see if a Cook Island Trust is right for you.