Cook Islands

Population:

Approx 18,000

Currency:

New Zealand dollar; US$1 = NZ$1.42 (mid-2005)

Language:

English and Maori

Time zone:

GMT minus 10

Centre's expertise:

Timely location on the western edge of the international date line

General requirements

Type of entity

International company

Type of law

Common Law plus International Companies Act 1981-82

Shelf company available

Yes

Time to establish a new company

24 hours

Taxation

Nil

Double taxation agreements

None

Forex restrictions

None

Language & name restrictions on companies

Names must be approved by Registrar

Share capital

Permitted currencies

Any currency or number of currencies

Minimum paid up

None

Usual authorized capital

US$1,000

Directors and personnel

Minimum number

1

Local required

None

Company secretary & qualifications

Resident secretary and resident office required

Shareholders and AGM

Minimum number

No shareholder required

Disclosure requirements

None apart from insurance companies and international banks

Publicly accessible records

No

Obligations for annual meetings

No

Location of AGM

Anywhere

Accounts

Requirement to prepare

No

Audit requirements

Only for banks and insurance companies

Account filing obligations

Only for banks and insurance companies

Publicly accessible accounts

No

Other

Requirements to file annual return

Yes

Change in domicile permitted

Yes

Need to registered office

Yes

Number of companies set up in last year

n.a

Total number of companies on register

n.a