The Cook Islands is a sovereign nation that constitutes a group of 15 islands in the South Pacific, southwest of Tahiti. This geographical position gives the Cook Islands a strategic advantage in working with both Asian and American markets. Founded in 1997, the bank of the Cook Islands is considered to be providing private banking services of the highest quality. We would like to offer you the service of opening of a corporate account remotely with a bank that provides a high level of service.
The recommended minimum deposit for opening a settlement account, as well as the minimum account balance should be no less than USD 20,000.
The online banking platform will allow you to view your balance and transactions, as well as to make secure transfers and receive directions.
Private Bank Offering Full Service Banking
The bank’s main and only office is located in a single jurisdiction only, that is in the Cook Islands. Therefore, the bank’s clients can be sure that the bank operates under the regulations of a single jurisdiction, unlike many multinational banks. In addition, the laws in the Cook Islands are as simple and understandable as possible, and the judicial system is professional and competent.
The Cook Islands legislation and the bank’s policies provide a balanced level of confidentiality for the bank’s clients.
The essence of a private banking business is to provide clients with a full range of private banking services, which usually means that the clients:
- are people with a particularly high level of wealth;
- are looking for the opportunities to save efficiently;
- prefer an advanced level of private service;
- are conservative in their investment purposes;
- expect the bank to be particularly careful about their private financial information.
The private bank is licensed to carry out both the local and international banking business.
Corporate Account in the Most Sought-After Currencies
Corporate accounts can be opened by companies (LLCs, IBCs, Limited Companies), trust partnerships, and funds. Currencies available for opening the account are USD, GBP, EUR. Accounts in other currencies to be opened upon demand.
The bank offers you to open a current settlement account, fixed-term deposits, and other low-risk investment options.
One of the advantages of this bank is a separate account for the prepaid card. Such a card can be obtained by the bank’s clients who opened a current account. In order to do this, you will need to fill out an application and have a secure product right at your disposal. It is a convenient way to access your funds. It will help you control your money easily.
| Maximum card balance: | 10,000 USD |
| Maximum withdrawal amount from one ATM: | 500 USD |
| Maximum transaction amount in one cash terminal: | 10,000 USD |
| Maximum replenishment of one card per day: | 5,000 USD |
| Card issuance | 30 USD |
| Monthly commission | 15 USD |
| ATM cash withdrawal | 1.15% + 3.5 USD per transaction |
| Card replenishment | 2.25% of the amount (minimum 4 USD) |
Country Restrictions
Due to the high risks, the bank will not open an account to a company from one of the following countries and territories (as well as if the company’s beneficiaries are from these countries):
- Afghanistan
- Bosnia and Herzegovina
- Central African Republic
- Democratic Republic of Congo
- Ivory Coast
- Cuba
- Egypt
- Eritrea
- Ethiopia
- Haiti
- Iran
- Iraq
- Democratic People’s Republic of Korea
- Lao People’s Democratic Republic
- Lebanon
- Liberia
- Libya
- Myanmar (Burma)
- Pakistan
- Serbia
- Somalia
- Sri Lanka
- South Sudan
- Republic of Sudan
- Syria
- Trinidad and Tobago
- Tunisia
- Yemen
- Zimbabwe
Companies from the following list of countries and territories will be subject to more rigorous due diligence verification and tighter compliance requirements:
- Algeria
- Albania
- Armenia
- Azerbaijan
- Belarus
- Bolivia
- Brazil
- Burundi
- Ecuador
- Gaza
- Ghana
- Guatemala
- Guinea
- Guinea-Bissau
- Indonesia
- Kenya
- Kosovo
- Moldova
- Morocco
- Mozambique
- Nicaragua
- Nigeria
- Panama
- Papua New Guinea
- Philippines
- Republic of the Congo
- Russia
- Sao Tome and Principe
- Sierra Leone
- Tanzania
- Thailand
- Ukraine
- Vanuatu
- Venezuela
- West Bank of Jordan
The lists of countries subject to sanctions are continuously changing, so it is always necessary to clarify the situation by the day of opening an account.
Restrictions on the Company’s Business
This private bank will not be opening accounts to companies whose business is related to the following activities:
- any illegal actions and malpractice;
- money service, non-regulated and/or non-licensed;
- non-licensed financial institutions that require licensing;
- prostitution, pornography, sexually explicit material;
- narcotics, recreational medicines and online pharmacies;
- unpolished diamonds trading;
- gambling and lotteries (online and offline), casinos, betting organizers;
- defense contractors, arms and ammunition manufacturers and suppliers, private security firms;
- legal entities that may issue bearer shares or whose ownership is effected via the bearer shares;
- shell banks;
- tobacco, cigarettes, cigars, e-cigarettes and related goods and services;
- illegal wildlife-related activities;
- counterfeit goods;
- dating services;
- telemarketing;
- chemicals.
The following areas of activity require more careful consideration and extensive due diligence verification in relation to the company’s transactions:
- firms and individuals providing consulting services;
- business with intensive use of cash (retail shops, hotels, grocery stores, taxis, restaurants, etc.);
- business that accepts third-parties’ money to invest on behalf of these third parties;
- dealers of jewellery, precious stones and metals;
- computer and technology retailers;
- debt collection;
- pharmaceuticals or pharmacies;
- trading companies or exchanges of non-fiat and foreign currencies;
- online games;
- pre-owned car dealers and used car parts sellers;
- employment brokers;
- multi-level marketing;
- financing of lawsuits.
The list of prohibited activities, as well as the list of countries under sanctions is subject to change. Therefore, in order to clarify if your company’s activities are in line with the bank’s requirements before you decide about opening your account, you need to align your company’s profile with the requirements and restrictions of the bank.
Trading Account
The bank offers access to the investment trading platforms that allow trading on more than 30 exchanges around the world. All assets are located in the custodian storage, which makes clients confident of their investments safety.
You will have secure access to your portfolio, allowing you to view and control your investments as well as place your purchase and sale orders as you see fit. You will also see a range of investments available for purchase via various exchanges.
With a trading account, you will have access to a variety of markets, including:
| AMEX – NYSE MKT (American Stock Exchange)
AMS – Euronext Amsterdam ASX – Australian Securities Exchange BRU – Euronext Brussels CSE – NASDAQ OMX Copenhagen FFT – Deutsche Borse (Frankfurt Floor) FSE – Deutsche Börse (XETRA) HKEX – Hong Kong Exchanges HSE – NASDAQ OMX Helsinki ISE – Irish Stock Exchange LISB – Euronext Lisbon LSE_ETF LSE_INTL – London Stock Exchange (IOB) LSE_SEAQ – London Stock Exchange (SEAQ) LSE_SETS – London Stock Exchange MIL – Borsa Italiana/Milan Stock Exchange NASDAQ NSC – NASDAQ (Small cap) |
NYSE – New York Stock Exchange
NYSE_ARCA – New York Stock Exchange (ARCA) OOTC – OTC Markets Group (Pink Sheets) OSE – Oslo Børs/Oslo Stock Exchange OTCBB – OTC Bulletin Board PAR – Euronext Paris SGX-ST – Singapore Exchange SIBE – BME Spanish Exchanges SSE – NASDAQ OMX Stockholm SSE_FN-SE SWX – SIX Swiss Exchange SWX_BND_ETF SWX_ETF TSE – Toronto Stock Exchange TSX – TSX Venture Exchange VX – SIX Swiss Exchange (Blue-Chip) WSE – Warsaw Stock Exchange XETR_ETF – Deutsche Börse (Indices & ETFs) |
Precious Metals Account
The bank offers you to open a precious metals account. It can be gold, silver and platinum. These are real physical metals (in the form of bullions and coins) that are stored in a specialized storage facility in New Zealand.
The precious metals account gives you the opportunity of not only purchasing precious metals, but also of selling them at any time. You will also have the option of booking a face-to-face visit to the storage or order the transportation of your metal to another location.
The online banking platform will allow you to view your account balance, as well as safely send and receive various account management directions.
Investment Account
An investment account is the efficient way to control your investments using the services of a private investment bank.
The bank imposes almost no restrictions on the types of investments you can own. It can be stocks, bonds, commodities, currencies or mutual funds. Choosing the type of investment is the result of discussing it with your investment manager.
You can choose an investment manager according to your personal preferences, the bank will not give you any specialized recommendations. Your personal manager can also manage your portfolio transferred to the bank in the Cook Islands.
In order to open an investment account, usually it is enough to provide the information that is required to open a regular settlement account. However, certain investment managers may require additional information.
Procedure of Opening a Corporate Bank Account in the Cook Islands
In order to start the procedure, you should do the following:
- Contact our specialists for professional help in opening the account. Our contact email is: info@offshore-pro.info.
- Pay for the professional assistance in getting your account opened. Available payment methods are a bank transaction, payment card, PayPal, WebMoney or Western Union. The cost of this service is:
- Company without nominees, from 3999 EUR;
- Company with nominees, from 4999 EUR.
- Prepare your documents required for opening a corporate account.
Documents Required for Opening a Corporate Bank Account in the Cook Islands
In order to open an account, you must complete and sign the bank forms for account opening, scan them and send them to our experts to get a preliminary approval.
Every company manager and beneficiary will need to present the following papers:
- notarized copies of their travel passports;
- notarized copies of their utility bills, or the originals of their utility bills, or bank account statements to confirm their addresses of residence;
- curriculum vitae.
Required corporate documents:
- copy of the Certificate of Formation;
- copy of the Company’s Memorandum and Articles of Association/Bylaws/Operating Agreement;
- notarized copy of the Company’s Certificate of Good Standing (if the company has been in existence for more than one year);
- copy of the Director’s Resolution to allow the account-opening procedure.
In addition, it will be necessary to provide a description of the company’s business activities (company’s turnover, partners, regions of operations, system of mutual settlements, operational structure, etc.).
Note: all the documents must be translated into English and notarized. The bank may also request other documents.
The deadline for reviewing the account application is about 20 days from the day the scanned copies of your documents were submitted. The bank also requires provision of the original documents by mail.
If you are interested in this service, please feel free to contact us today by email to info@offshore-pro.info.
