News/Blog

Establishing a Cook Islands Trust is not a complicated process however, it is advisable that you speak to your attorney before proceeding. When it comes time to establish the trust, we highly recommend using our standard trust document which has been specifically designed to ensure that it meets all Cook Islands legal requirements. This document can either be adopted in its current form or your attorney may work with you to make any changes necessary. The next steps to be taken are to identify the parties involved in the structure of the trust and that the correct information is provided

Education is vital for our people, our business and our country.  The knowledge and skills of employees available in the labour supply are a key determinant for both business and economic growth. A skilled workforce is good for innovation and for bringing excitement into the workplace when they are encouraged to contribute to the business’s growth and development.   The lack of these skilled persons has always been an issue for trustee companies here in the Cook Islands. Our industry needs lawyers, accountants and business administrators. This makes it important for local trustee companies to support young Cook Islanders in their

Properly managed by the private sector, together with Cook Islands Government, the Cook Islands trust industry has the potential to become a dominant force in the Cook Islands economy.  One of the key advantages we possess is having 4 generations of educated Cook Islanders that have real expertise from working in the Cook Islands trust industry over the last 40 years. Many have taken this skill to work in senior roles in other financial centres around the globe. The Cook Islands also has the ability to generate legislation to address problems faced by clients in other jurisdictions. This has always been at the

The International Relationship Property Trust Act (2021) passed on 1 December by the Government of the Cook Islands. The new law ensures trust assets remain intact, and not be divided and distributed to the spouses, in the event of their separation – and that the careful planning and foresight of the settlers and careful management by the trustees remains intact.  “Many jurisdictions have developed law, which allows parties to agree on how their assets are to be treated in the event of divorce.” stated Reuben Tylor Director of Trustees & Fiduciaries Cook Islands (T&F), who developed the concept of the Relationship Property Trust Act. “None

I had the privilege to be in parliament to witness the passing of the International Relationship Property Act 2021 a new and innovative piece of legislation which is unique to the Cook Islands.  The concept behind the IRPA is simple, it gives spouses the right to choose to keep their assets intact in the event they separate in future. This legislation will provide a foundation for future growth in the Trust Industry in the years to come.  I was heartened to hear both the leader of the opposition, Hon Tina Pupuke Browne, and Prime Minister, Hon Mark Brown, acknowledge that

In March 2020, the borders to the Cook Islands slammed shut. What that meant for the Cook Islands was no more tourists, and for a country heavily reliant on tourism – it had a huge impact. Several businesses were suddenly reliant on the government for their survival and many Cook Islanders lost their jobs. Ultimately Cook Islanders started to migrate to New Zealand in search of employment. In the offshore trust industry, the impact was low. Trust companies in the Cook Islands continued to operate as normal. Employment actually increased over the past year while PAYE and VAT paid to government