Going Offshore - Crowe Horwath International

Horwath MAK
Member Crowe Horwath International
SN DETAILS COOK ISLANDS
1 Types of company: (a) Type of company preferred for international transactions:
International companies which may be limited by share or by
guarantee, or which may be no liability, unlimited or mutual
companies. US style Limited Liability Companies.
(b) Shareless companies: Shareless companies permitted with
restrictions.
2 Capital requirements: There are no minimum share capital requirements.
3 Fees paid to authorities
to incorporate:
4 Annual fees paid to
authorities:
5 Taxation rates applied to
companies generally:
6 Minimum number of
members:
USD 300 for international business companies (IBCs); USD 200
for LLCs.
USD 300 for IBCs; USD 200 for LLC's.
20% taxation applied to domestic companies only.
(a) The taxation of companies in 2(a): No taxation exists for IBCs
or LLCs.
One
7 Directors and secretary: (a) Must there be a resident director/secretary? A resident
secretary is required, however, a local director is not required.
(b) Are corporate directors allowed? Yes
(c) Is a local registered agent required? Yes.
(d) Are "shadow" directors required to be registered? Yes.
8 Amount of fees payable
to appointee directors/
secretary:
These fees are generally included in the licensed trustee company
fees for administration.
9 Annual meetings: Directors and shareholders meetings may be held by telephone or
by circulating a minute for signature. AGMs are not essential where
signed minutes so records.
10 Must foreign companies
administered locally be
registered?
Foreign companies administered locally may, but do not have to
be, locally registered.
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