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Legislative Updates

2017 July: The Cook Islands remains committed to combating financial crime, money laundering, and financing of terrorism.

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The Cook Islands Review: Autumn Edition

2017 June: The Financial Services Development Authority has produced its Autumn 2017 issue of the Cook Islands Review.

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Southpac Trust Offshore Planning Institute Conference 2017

2017 June: Southpac Trust, a Cook Islands licensed trustee company, hosted its Offshore Planning Institute Conference this year in Las Vegas Nevada.

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Metis Global Wealth Planning Conferences in China

2017 May: In a series of conferences held in four major cities in China hosted by Metis Global Limited, a trustee company licensed in the Cook Islands, Tamatoa Jonassen, FSDA CEO, presented on the Cook Islands and its part in wealth planning to audiences of high net worth Chinese individuals and

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Limited Liability Company: A Flexible Corporate Vehicle

2017 May: China Offshore published its 7th Annual Company Formation Guide which included a jurisditional profile on the Cook Islands and an article by Tamatoa Jonassen, FSDA CEO, titled "Limited Liability Company: A Flexible Corporate Vehicle." In the article Tamatoa introduces the establishment,

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CEO Insight Interview with Tamatoa Jonassen

2017 March: In an Interview with Henry Martin in the Spring 2017 edition of CEO Insight magazine, Tamatoa Jonassen, CEO for Cook Islands FSDA, discusses the positive strides in compliance that positions the Cook Islands as a trusted financial centre.

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Now Available - Fact sheets on Cook Islands Financial Services and Products

2017 March: The Financial Services Development Authority has produced the first of its Fact Sheets highlighting services, products and opportunities available from the Cook Islands financial services industry.

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The Cook Islands Review

2017 March: The Financial Services Development Authority has produced its Summer 2017 issue of the Cook Islands Review.

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Captive in a World of Uncertainty

2017 February: Tamatoa Jonassen, CEO of the Cook Islands Financial Services Development Authority, has had his article entitled "Captive in a World of Uncertainty" published in the the February 2017 edition of Captive Insurance Times Magazine.

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The South Pacific Bridge to Financial Security

2017 January: Tamatoa Jonassen, CEO of the Cook Islands Financial Services Development Authority, has had his article entitled "The South Pacific Bridge to Financial Security" published in the the January 2017 edition of CEO Insight Magazine. The article can be viewed here.

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Wealth Management: The Cook Islands Solution

2017 January: Alan Taylor, Marketing Director of the Cook Islands Financial Services Development Authority, has had his article entitled "Wealth Management: The Cook Islands Solution" published in the China Offshore 7th Annual Trust and Foundations Guide.

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The Cook Islands unwavering in its commitment

2016 December: In October 2015 the Cook Islands signed the Multilateral Competent Authority Agreement on Automatic Exchange of Financial Account Information (“MCAA”).

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The Cook Islands - Meeting International Regulatory Standards

2016 November: The Cook Islands is complying with its international obligations in relation to anti money laundering and the countering of terrorist financing and transparency and the exchange of financial information to combat tax evasion.

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Multilateral Convention on Mutual Administrative Assistance on Tax Matters

The Cook Islands signed the Multilateral Convention on Mutual Administrative Assistance on Tax Matters (the “Convention”) on 28 October 2016. The Convention was developed jointly by the OECD and the Council of Europe in 1988 and amended by Protocol in 2010.

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The Multilateral Competent Authority Agreement on Automatic Exchange of Financial Account Information

The Cook Islands signed the Multilateral Competent Authority Agreement on Automatic Exchange of Financial Account Information (“MCAA”) in October 2015. The MCAA sets out the common reporting standard (“CRS”) to be followed by participating jurisdictions in regards to the AEOI.

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Income Tax (Automatic Exchange of Financial Account Information and Other Matters) Amendment Act 2016

The Income Tax (Automatic Exchange of Financial Account Information and Other Matters) Amendment Act 2016 (the “Amendment”) was passed into law on 26 September 2016. The primary purpose of the Amendment is to provide for the exchange of financial information in accordance with the CRS.

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Tax Information Exchange Agreements

The Cook Islands has entered into 21 bi-lateral Tax Information Exchange Agreements (“TIEAs”). TIEAs are based on an OECD model and are another tool designed to promote international co-operation in tax matters through the exchange of information.

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Foreign Account Tax Compliance Act

Cook Islands financial institutions have commenced providing information to the US IRS in regards to US account holders.

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The Cook Islands signs the Multilateral Convention on Mutual Administrative Assistance in Tax Matters

2016 November: On 28 October 2016 Andrew Haigh, of the Revenue Management Division of the Cook Islands Ministry of Finance and Economic Management, signed the Multilateral Convention on Mutual Administrative Assistance in Tax Matters (the “Convention”) on behalf of the Cook Islands government.

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FATF Gives Guidance on Correspondent Banking Services

2016 October: In response to concerns of global leaders, including the G20, about a need for further clarification of regulatory expectations, the FATF has approved a guidance on correspondent banking services.

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Family Wealth Transfer

2016 October: According to the recently published Wealth X 2016 report on Family Wealth Transfer (the “Report”), the world’s “ultra wealthy population” (“UHNWIs”), being those individuals with a net worth of at least USD30m, has grown to 212,615 with a combined wealth of USD30 trillion.

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The Pacific Catastrophe Risk Insurance Facility

2016 September: In June of this year the Cook Islands passed the Pacific Catastrophe Risk Insurance Facility Act 2016 (the “Act”).

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Italy Publishes the New White List for Tax Purposes

2016 August: On 22 August 2016 the Italian Government added 51 new jurisdictions to the list of jurisdictions that it considers allow an adequate exchange of information for tax purposes with Italy (the so called “white list”).

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Capital Security Bank in the Cook Islands first for safety of deposits

2016 August: Following the UK vote to leave the European Union, and with the fallout from the Global Financial Crisis of 2008 still fresh in the minds of those who lost money held in financial institutions, people in Europe are again questioning the security of their funds deposited in banks arou

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The OECD's Global Tax Transparency Forum Phase 2 Peer Review Process Continues

2016 July: The OECD’s Global Tax Transparency Forum Phase 2 peer review process continues with Switzerland, the world’s largest financial centre in terms of funds under custody, having now attained the rating of “largely compliant”.

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Stability. Innovation. Service: World Leaders in Wealth Protection

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  • P.O. Box 3255,
    Clarkes Building, Parekura, 
    Rarotonga, Cook Islands
  • Phone: +(682) 21-175
  • Email: enquiry@fsda.gov.ck