The Cook Islands comprises a group of 15 islands located in the South Pacific between Tahiti in the east and Samoa and Tonga in the west. The main island of Rarotonga is 3,000 km northeast of Auckland, New Zealand. The Cook Islands consists of two main groups, a southern group of nine "high" islands which are of volcanic origin and the northern group which comprises of six atolls. The majority of the population lives in the southern group. Total population of the Island group is approximately 19,000. The indigenous population is Polynesian but English is spoken by most of the community.
Great Britain proclaimed a Protectorate over the Cook Islands in 1888 and in 1901; the Islands were ceded to New Zealand. The Cook Islands became fully self-governing in 1965 under the Cook Islands Constitution Act 1964. Since obtaining self-government, the Cook Islanders have retained New Zealand citizenship.
The Government has reaffirmed continuing support and encouragement for the development of Rarotonga as a financial centre.
There are two main political parties; the Democratic Alliance Party and the Cook Islands Party, which between them hold all seats in Parliament. Both parties support the Cook Islands status as an offshore financial centre. Executive authority is vested in Her Majesty the Queen. The Queen's Representative is appointed upon the advice of the Cook Islands Government. Executive Government lies with a cabinet comprising the Prime Minister and nine other Ministers appointed by the Prime Minister. The Cook Islands has growing international stature and is a member of the South Pacific Forum, the Asian Development Bank and the Economic Commission for Asia and the Pacific. The Cook Islands economy is primarily tourism based however there has been a substantial expansion in the offshore industry with the advent of innovative and progressive legislation to facilitate the establishment of a variety of offshore structures including international business companies, offshore banks, offshore insurance companies and wealth preservation trusts. Air New Zealand operates various flights through Rarotonga to Auckland, Tahiti, Hawaii, Los Angeles and Fiji, which provide direct access to the United Kingdom, USA, South East Asia, Australia as well as Europe. Rarotonga has a satellite international telephone and facsimile system. Direct dialing to Rarotonga is available from most countries. Internet and e-mail access is also freely available.
The official language is English however Cook Islands Maori is spoken widely.
New Zealand Dollar.
Only in relation to certain dealings in New Zealand Dollars. There are no local restrictions on the movement of funds to or from the Cook Islands in other currencies and funds may be held and business transacted in the Cook Islands in any currency.
Based on English Common Law.
- Principal Corporate Legislation
The International Companies Act 1981-1982. Authorization from the Principal or Authorised Person of the Company or otherwise the client according to the file records held in the search office, or Where the search is at the request of a person other than the Principal or Authorised Person or client, then the Principal or Authorised Person or client consents to the search.
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