Registering a company in the Cook Islands is a systematic process that involves choosing a company type, selecting a name, preparing the necessary documentation, and registering with the Financial Services Development Authority and Revenue Management Division. By adhering to the requirements and guidelines set out in this guide, you should be well-prepared to establish your business in the Cook Islands. This beautiful and business-friendly environment could be the perfect location for your next venture.
Step 1: Choose your company type
The first step in registering a company in the Cook Islands is to choose the type of company you want to register. The most common types are:
- Limited Liability Company (LLC)
- International Company (IC)
- Offshore Limited Partnership (OLP)
Step 2: Choose a company name
You'll need to choose a unique name for your company that is not already in use by another business. The Cook Islands Financial Services Development Authority (FSDA) has guidelines for acceptable names.
Step 3: Prepare the required documents
The key documents needed for registration depend on the type of company you are registering, but generally include:
- Memorandum and Articles of Association (for LLC and IC)
- Application for Company Registration (for all types)
These forms can be found on the FSDA's website: http://www.fsda.gov.ck/
Step 4: Identify company officers and shareholders
You will need to identify at least one director and one shareholder for your company. These can be individuals or corporate entities.
Step 5: Capital requirements
There are no set minimum capital requirements for companies in the Cook Islands.
Step 6: Register your company
Once your documents are ready, you can submit your application to the Cook Islands Financial Services Development Authority (FSDA). This can be done in person or via email.
The fees for registering a company are as follows:
- LLC: NZD $300 (approximately)
- IC: NZD $350 (approximately)
- OLP: NZD $250 (approximately)
- Trusts: Varies based on the type of trust
Step 7: Register for taxes
After your company is registered, you must register for taxes with the Cook Islands Revenue Management Division. This can be done online via the following link: http://www.revenue.gov.ck/
Step 8: Obtain necessary permits and licenses
Depending on your business activities, you may need to obtain additional permits or licenses. Check with the relevant authorities and industry regulators for specific requirements.
The entire registration process, from preparing documents to receiving your Certificate of Incorporation, can take anywhere from 1 to 3 weeks.