Cook Island International Trust

The Cook Islands International Trusts Act, enacted in 1984, has long been the standard for international trusts. The asset protection features added to the legislation in 1989 attract much attention and have served thousands of families around the world. Asset Protection is just one use for the Cook Islands international trusts and it is often an added benefit rather than the reason for forming a trust in the Cook Islands.  The Cook Islands legislation is unique in that many of its features must be formally adopted in the trust agreement. This ensures clients a trust that best suits their personal or corporate circumstances.

Key Features

Cook Islands  International Trust

Corporate Details

General

  • Type of entity

International Trust

  • Type of law

International Trusts Act 1984

  • Our time to establish a Trust

2 weeks

  • Taxation of trust assets

None

  • Double Taxation Treaty access

No

  • Change of Domicile permitted

Yes

  • Duration

None

  • Restriction on Investment of Trust asset

No

  • Succession

As per Trust Deed

Settlor

  • Requirements

Should not be a resident of Cook Islands

  • Qualifications

 A trustee, a beneficiary or a protector of the trust.

Beneficiary

  • Requirements

Should not be a resident of Cook Islands

  • Qualifications

 A trustee, a beneficiary or a protector of the trust.

  • Property

Should not include immovable property situated in the Cook Islands

  • Jurisdiction

Cook Islands  Supreme Court

  • Forced heirship applicable

No

Trust asset

  • Restriction on type/amount

No, except property situated the Cook Islands

 Trustee   

  • Minimum number

1 if corporate and 2 or more if not corporate

  • Qualification

No domestic trustee is required

Accounts

  • Requirement to file

Yes

  • Publicly accessible

No