Eternity Law International News How to create a Cook Islands Trust in 2023

How to create a Cook Islands Trust in 2023

August 14, 2023

One of the most successful ways to rescue your acquisitions is to create trust-corp. With offshore trusts, their trustee is increased several times over. In such a case, you will not only secure the possible alienation of your assets, but you can also get certain tax benefits. Therefore, the demand for opening trust companies has recently increased dramatically.

Those wishing to create such a legal entity should decide on the country where such a company will be registered. The countries of Oceania are quite a good option. For example, it is not difficult to create offshore trust in Cook Islands. Here are very loyal laws for this area, because the provision of financial-services is the second most important article of revenue in the local budget after tourism. Therefore, local trust companies are considered to be one of the best tools to safeguard your acquisitions.

Why opening a trust in the Cook Islands is a good decision

Opening a trust company in the Cook Islands is primarily to protect your acquisitions from possible encroachment by creditors and in case of injunctions. The authorities of this small country were among the first in the world to think of legislative mechanisms in this direction.

The first legislation for this area dates back to 1984. The law is still in force today but has been amended in several ways, including the addition of more freedom for residents and other provisions to bring local legislation in line with international norms.

In proliferation to the basic law on the operation of transnational trust-companies, the Islands have also enacted legislation on:

  • combating money laundering and the financing of terrorist organizations;
  • the operation of a special Financial Supervisory Commission;
  • the development of reports for trust companies.

As you can see, from the legal point of view, trust companies in this country are better protected than anywhere else in the world.

Edges of affirming trust in the Cook Islands

Incorporation of a trust-company in Cook Islands has some very nice godsends over registering in other states. For example:

  • The legal system in this country is more favorable to the defendant. Local companies are not subject to orders or judgments from other countries. Accordingly, if your case has lost in a court in another countryside, the leads in the Cook Islands will not recognize it. To obtain a trust-company divestiture, the plaintiff will need to come to the islands, present a case and win it under local law. However, the plaintiff must have uncontested facts to prove his or her case;
  • Statutes of limitations on claims. Local courts may consider claims against trust assets a year or 2 after the trial. After that, any claims against such assets simply may not be considered by the local-courts. This is serious conservation for the acquisitions of trust-company owners. In other countries this period is much longer;
  • Trust companies rescue more than just tangible acquisitions. For local trust companies, the functionality is broader than in other regions. You can include liquid acquisitions (real estate, development, intellectual parcel, and even bank accounts) as trust parcels.

These godsends show that owners of such legal entities should consider the Cook Islands as a place of incorporation when arranging a trust.

Procedure for arranging a trust company

Registering a trust in the Cook Islands is very quick. However, it may involve several steps. The first step is to select trustees, identify them and delegate their roles. To do this, you need to determine the type of trust-company, the number of legatees, and who will be the beneficiary.

After that, it is essential to properly collect and submit to the local-authority the documents for the registration of the trust company. Specifically, you need to provide the following documentation:

  • identification documents of the co-founders of the trust;
  • trust form;
  • documents confirming the existence of assets;
  • letters of recommendation from the bank;
  • documents confirming the right to trust assets;
  • documents confirming insurance of assets;
  • wishes letter solvency documents.

In individual cases, supervisory authorities may request additional documentation. If all the documents provided are correct, the trust company will be open.

Who can help with the execution of documents

The opening of such a company should not be attempted on its own. This is the worst decision for the creator of an offshore trust. This is a serious business and it is better to turn to companies that will help you simplify the process.

Our specialists have extensive experience working with the leads of these isles. We understand their requirements and will help you to properly prepare draft documents for quick registration and start functioning of the trust-company in this region. You will realize that you contain not made a mistake in choosing a consulting company.

You could be interested

More opportunities for internet banking with the PSD2 directive

PSD2 directive. What is it? PSD2 – Payment Services Directive 2015/2366 is the second payment services directive to replace the first 2007/64 / EC. The Directive on payment services in the internal market was adopted on 25 November 2015 by the European Parliament and the Council. Its provisions are aimed at harmonizing relations in the...

Company registration on Sark

Sark is a small island from the Channel Islands located in the English Channel, owned by Guernsey. This is a small, isolated state, in which until 2008 there were only 40 enterprises. All land on the island is owned by one person who rents them out. The island itself belongs to Great Britain, it is...

Bank account for startup

Bank account for startup – where to choose? Choosing the right account with a foreign banking institution will help you keep track of all your expenses, generate revenue and enjoy flexible and convenient banking services. Which account type to choose and in which country to apply for its opening depends on what the account you...

Electronic payment system development 

The popularization of the Internet has led to the emergence of many online stores and virtual services. Each of us can order a product online or receive a particular service. Payment for a purchase or service has become a separate issue that requires special attention. Not everyone has time to go to a bank branch...

BlockchainUA 2019 in Kiev

The blocjchain 2019 in Kiyv The BlockchainUA team is proud to announce the sixth annual international conference, which will be held in Kiev, March 22, 2019 and will bring together the strongest blockchain community in Ukraine and Europe! The main mission of BlockchainUA is to increase awareness of blockchain and decentralized technologies, support the blockchain...

Consulting of cryptocurrency

PARTNER PROGRAM “WHITE LABEL” Eternity Law International is engaged in providing a comprehensive consulting of cryptocurrencies and services in the field of blockchain and cryptocurrency technology. It offers its clients the provision of legal business activities related to earnings on cryptocurrencies. Complex consulting, which deals with the company, is always characterized by high quality of performance...
Fill the blank:


Dreikonigstrasse, 31A, Stockerhof


Baseina street, 7


Grosvenor Gardens, 52

New York

1178 Broadway, 3rd Floor #3353 New York, NY 10001


Gediminas Avenue, 44A


Kesklinna linnaosa, Tuukri 19


Lochrin Square, 1


Jacovides Tower, 5 floor


Esplanade, 7 floor

Hong Kong

18 Harbour Road, 35/F, Central Plaza, Wanchai


Level 42, Suntec Tower Three, 8 Temasek Boulevard


20 Martin Place


2609 Avenida da Boavista


Revaz Tabukashvili Str., N 45, area N 7