Cost: from 2999 EUR

Consultation

Open a Personal Bank Account in Cook Islands Remotely

If you are looking for a foreign bank where you can open an account remotely, promptly, and without facing tough restrictions, please give an eye to the financial institution in the Cook Islands. The bank that we are promoting here has been in existence for more than 20 years and it holds a license that authorizes it to provide financial services to international clients. 

Personal account in the Cook Islands

The spectrum of services that you can find there includes private banking, wonderful asset protection mechanisms, and opportunities to make successful investments. Please consider the possibility to set up a personal account with the Cook Islands bank.

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Please note that the bank will not provide services to citizens of some countries unless they physically reside abroad (please find the list of restricted countries below). If the Cook Islands bank does not suit you, we will be happy to help you find another financial institution that is ready to take you onboard.

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An offshore bank in the Cook Islands

The bank was founded in 1997 and it is monitored by the Cook Islands Financial Management Committee. Its most outstanding business partners include such organizations as ANZ, Commerzbank, NAB, Rochdale Investments, and many others.

The offshore bank conforms to all the international banking standards and it conducts due diligence procedures for all clients. The bank administration follows all the KYC and AML requirements to the letter. At the same time, the bank clients’ financial information is efficiently protected by the Cook Islands Banking Act of 2011.

Restricted countries

The bank is reluctant to provide services to citizens of some countries unless they live abroad. Applicants from some other countries will have to go through enhanced due diligence procedures. Please find the list of restricted countries below.

List of restricted countries

The bank does not work with the clients from these countries and territoriesHigh-risk countries – Clients from these countries and territories should undergo enhanced due diligence verification
1. Afghanistan
2. Bosnia and Herzegovina
3. Central African Republic
4. Democratic Republic of the Congo
5. Ivory Coast
6. Cuba
7. Egypt
8. Eritrea
9. Ethiopia
10. Haiti
11. Iran
12. Iraq
13. Democratic People’s Republic of Korea
14. Lao People’s Democratic Republic
15. Lebanon
16. Liberia
17. Libya
18. Myanmar (Burma)
19. Pakistan
20. Serbia
21. Somalia
22. Sri Lanka
23. South Sudan
24. Republic of Sudan
25. Syria
26. Trinidad and Tobago
27. Tunisia
28. Yemen
29. Zimbabwe
1. Algeria
2. Albania
3. Armenia
4. Azerbaijan
5. Belarus6. Bolivia
7. Brazil
8. Burundi
9. Ecuador
10. Gaza
11. Ghana
12. Guatemala
13. Guinea
14. Guinea-Bissau
15. Indonesia
16. Kenya
17. Kosovo
18. Moldova
19. Morocco
20. Mozambique
21. Nicaragua
22. Nigeria
23. Panama
24. Papua New Guinea
25. Philippines
26. Republic of the Congo
27. Russia
28. Sao Tome and Principe
29. Sierra Leone
30. Tanzania
31. Thailand
32. Ukraine
33. Vanuatu
34. Venezuela
35. West Bank of Jordan

The bank administration reserves the right to amend the list at any time.

A Personal current account with the Cook Islands bank

You can open a personal offshore bank account in any of the following currencies: USD, AUD, SGD, GBP, NZD, CAD, EUR, and CHF. The bank also offers the following services to non-resident clients:

  • Fixed-term deposits;
  • Currency exchange;
  • Transactions around the world;
  • Prepaid cards;
  • Online banking.

You can withdraw money from the account or add money to the account by giving instructions via the Internet. You can use your email or a secure Internet portal for this purpose. When making transactions, you can request supporting documents from the bank.  

The interest rate on your deposit will depend on the currency, the amount, and the term of the deposit.

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A personal account with the offshore bank: the tariffs

  • Account opening – 250 USD.
  • Monthly account maintenance fee depends on the account turnover and it does not exceed 250 USD.
  • Minimum initial deposit and security balance – 20,000 USD.
  • Account closure – 100 USD.
  • Outgoing transactions – from 100 USD.
  • Incoming and internal transactions are normally free of charge.

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If you are interested in other opportunities to open a foreign bank account online, please follow the link and request a free professional consultation on the matter.  

Prepaid card account in the Cook Islands: the tariffs

You can open a prepaid card account with the Cook Islands bank in US dollars. You can use the card in millions of various outlets all throughout the world. You can also use it for making online purchases and withdrawing cash from ATMs.

You have to have an account with the bank to be able to open a prepaid card account. You can apply for setting up a prepaid card account together with applying for a personal current account opening. Our experts will gladly assist you with that.

Prepaid card tariffs and commissions:

  • Maximum card balance – 10,000 USD.
  • Card issuance fee – 30 USD.
  • Monthly service fee – 15 USD.
  • Cash withdrawal – 1.15% + 3.50 dollars per transaction.
  • Purchases (POS) – 1 USD.
  • Courier delivery – from 60 USD.
  • Maximum amount of a single cash withdrawal – 500 USD.
  • Maximum amount of a single payment at a POS – 10,000 USD.
  • Maximum amount that can be added to the card daily – 5,000 USD. A commission of 2.25% of the amount is payable (minimum 4 USD).
  • Maximum amount that can be added to the card yearly – 80,000 USD.

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Merchant account for private customers

The Cook Islands bank provides access to an investment and trading platform that allows trading at over 30 exchanges. Your assets will be kept with a custodian, which will provide for your investment security.

A safe and reliable access to your investment portfolio allows controlling it efficiently and making buy/ sell orders with ease. The bank clients can invest in a number of commodities when trading at different exchanges.

Two commissions have to be paid on this type of financial activity. First, a commission on the amount of assets (from 0.18% per year). Second, sales charges based on the transactions on the account. The amount of sales charges will depend on the amount of investment and the particular exchange.

Please note that the bank does not provide investment consulting services.

Precious metals account for private customers

You can open a precious metals account with the Cook Islands bank and then buy / sell precious metals freely.

All the precious metals purchased through the offshore bank are physical metals that belong to the account holder exclusively. If necessary, the bank can supply all the supporting documents for your precious metal transactions including the serial numbers of the bullions.

You will have the opportunity to visit the vault and see your precious metals with your own eyes. You can also transport your metals to other places if you wish.

The bank’s online platform allows supervising your precious metals account and send buy/ sell instructions in a secure manner.

Investment account for private customers

An investment account with the Cook Islands bank allows managing your investments in an efficient and professional way. You can invest in stocks, bonds, commodities, currencies, and mutual funds without too many restrictions. You will have to decide where you want to invest. The bank administration can recommend an investment consultant to you if you wish.

The bank cooperates with a number of investment managers each of them specializing in his/ her own area. You can choose the investment consultant whose specialization suits your purposes or continue to use the services of your current investment manager. Simply transfer your investment portfolio to the offshore bank in the Cook Islands and acquire new investment instruments.

Same as with other types of accounts, you can give investment instructions via the Internet. The tasks will be carried out on the same day or on the next day if the time difference between your time zone and the Cook Islands time zone is large.

Opening an investment account with the Cook Islands bank is not difficult at all: you have to supply the same information that you supply when setting up a current account. However, the investment manager that you hire may request some additional information.   

The minimum required investment account balance is 500,000 US dollars (or the equivalent in another currency).  

The procedure of setting up a personal account with the Cook Islands bank

The procedure of opening an offshore bank account in the Cook Islands is as follows:

  1. Contact us at info@offshore-pro.info and express your interest in the opportunity.
  2. Discuss all the details with our experts and supply the required application documents. All documents have to be in English, translated if necessary and notarized. The following application documents need to be supplied:
    • A passport copy;
    • A proof of residential address (it can be a copy or the original of a utility bill or a bank statement with you name and address in it);
    • A short résumé;
    • Completed and signed application forms for account opening. You will have to scan the forms and send them to the bank for provisional approval.
  3. Cover the cost of our services in a way that you prefer: a bank transfer, a credit card payment, a payment through systems like PayPal, or Western Union, a crypto payment, etc. The cost of this service is 2999 EUR.
  4. The application processing is going to take at least 20 days so you will have to wait a bit. When the process is over, you will gain access to your offshore bank account in the Cook Islands.

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Are you ready to launch the process of bank account opening in the Cook Islands? Please contact us and place a service request!

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