Private Banking in the Cook Islands. While Cook Islands law protects assets transferred to a trust, if those assets remain within the jurisdiction of the Courts where the potential will be heard, those Courts may choose to disregard, rather than recognise, the application of Cook Islands law.
As a result, where possible, the trust’s funds and investments should be held by an offshore financial institution, preferably one in the Cook Islands. The funds can still be managed onshore, in which case the offshore financial institution only serves as a custodian.
In the Cook Islands the Capital Security Bank (CSB) offers a comprehensive banking service to international clients.
Recently they launched a new Fiduciary Deposit facility, more details can be found here.
CSB’s clients can select where the deposit is placed and for what term allowing cash clients to diversify their investments with CSB and improve their returns by enabling them to place their funds on fixed deposit in several banks simultaneously via their CSB account.
Trustees & Fiduciaries collaborates with CSB bank to establish a banking relationship that will aid in the protection of trust assets and the effective management of trust funds.
For more information on setting up Private Banking in the Cook Islands, contact nadine@trusteescookislands.com
