• The Cook Islands International Trusts are commonly used in the business sectors that could be sued, such as doctors facing malpractice suits, businessmen avoiding creditors and some who have been sued by the federal government.
• Many features of the Cook Islands trusts must be formally adopted in the trust agreement. This ensures to clients a trust that best suits their personal or corporate circumstances, and makes the operation of the Assets Protection Trust administratively friendly and highly protective.
• The Cook Islands International Trusts are regulated by a licensed Trustee Companies, who are independent trustee and fiduciary services business group which have been operating trust business for more than 30 years.
• Registration requirement –
  • No requirement to file the trust document / instrument with the Registrar
  • No disclosure of Beneficiaries, Settlors, or any parties to the Trust
  • No accounting disclosure requirements
• The Cook Islands courts will not recognize or give effect to certain judgments of foreign courts in relation to International Trusts.
• No foreign judgment affecting an International Trust, the parties to or property thereof shall be entertained in a Court in the Cook Islands if that judgment is based on the application of any law inconsistent with the Act or if the judgment relates to a matter governed by the law of the Cook Islands.
• International Banking Services are available locally in Cook Islands, though there is no requirement to use a particular bank in connection with the Cook Islands entity.
• Cook Islands Trust is tax neutral for the Settlor. The trust, trustee, and all parties to the trust are not subject to any form of taxation whatsoever in the Cook Islands.
• Perpetuity Rule under Common Law applicable to trust is abolished. A settlor can provide in the trust instrument to continue indefinitely, terminate on a specified date or terminate on the happening of a specified event.
• An International Trust is neither void nor voidable in the event of the Settlor’s bankruptcy.
• No International Trust or disposition of property to an International Trust shall be void, voidable or defective by reason that such trust may avoid an heirship right held by a person in relation to the Settlor.
• An International Trust may provide that a life or lesser interest given to a beneficiary shall not be alienated or pass by bankruptcy or be taken in execution by process of law.

Contact us to discuss on the Cook Islands Trust.