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 |
|
|
International Trust |
|
International Trusts Act 1984 |
|
2 weeks |
|
None |
|
No |
|
Yes |
|
None |
|
No |
|
As per Trust Deed |
|
Settlor |
|
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Should not be a resident of Cook Islands |
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A trustee, a beneficiary or a protector of the trust. |
|
Beneficiary |
|
|
Should not be a resident of Cook Islands |
|
A trustee, a beneficiary or a protector of the trust. |
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Should not include immovable property situated in the Cook Islands |
|
Cook Islands Supreme Court |
|
No |
|
Trust asset |
|
|
No, except property situated the Cook Islands |
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Trustee |
|
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1 if corporate and 2 or more if not corporate |
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No domestic trustee is required |
|
Accounts |
|
|
Yes |
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No |