Offshore Bank Account Formation – Cook Islands
Banking System in Cook Island
About Cook Islands
The Cook Island is a group of islands, situated in the South Pacific Ocean. The Cook Island is on the South West of Tahiti. Cook Island is due south and is in the same time zone as Hawaii. The Cook Island has a geographical location that gives a strategically advantage in having business dealings with both Asia and USA markets.
Banking System in Cook Island
The Cook Island has exceptional trustee companies. These trustee companies are complimented by the international banking services. These international banking services are offered in Cook Island, locally.
The Finance Supervisory Commission in Cook Island has the power to provide licenses to the banks. This commission also regulates the banks, on the island. The Cook Island is given a very high ranking for its industry oversight and regulations of framework.
The banks in Cook Island serve as a gateway for international clients of this banking service. These international clients need not use any specific bank in Cook Island, for establishing their entity in the Cook Island. These clients can maintain their flexibility in making a selection of the bank, of their choice, of that bank that is best suited to their requirements.
All the trustee companies maintain excellent relations with all the well known global banks. The world banking service provides the clients options of using the banking service either at their home country or in a global finance centre.
Australia and New Zealand Banking Group Limited is operating their branch in Cook Island, since establishing a presence in Rarotonga since 1966. It is called ANZ Cook Island. It is one of the most dependable and the strongest financial institution in Cook Island.
Bank of South Pacific
BSP is a leader in banking and finance in Cook Island. BSP offers a whole bank solution to the government and the corporate, small business houses and the retail customers.
Capital Security Bank
Capital Security Bank has group of professionals that provides all services to its customers. It is very popular in Cook Island.
Offshore banking was started in Cook Islands under the Banking Act 2003. Cook Islands is very well known for its tourism and banking systems. The minimum balance you require to open an account is USD 100 and multicurrency trading is also available at this offshore location.
Banks Available at Cook Islands
CSB is the only private owned group that provides offshore bank account to individuals and businesses. It operates its business in a very low risk zone where collaterals are managed in cash only. The bank also has sound privacy and confidentiality laws which protect its customers. However, they do not provide
It is headquartered in Shanghai and is one of the largest listed companies in the region. Their minimum bank balance required is slightly higher than that of its competitors but provides excellent services. Apart from bank accounts they have a wide portfolio of services that they provide including investments, insurance and MPF. The processing time of opening an account is usually around 2 weeks.
They are into financing, foreign currency loan syndication, forex services, currency swaps and interest rate swaps. They also provide 24x7 online banking which gives the customer an added support.
Documents Required For Opening Bank Account
Banking Benefits in Cook Islands
- No personal visit to the bank or country required
- Minimum balance required is USD 100
- Transactions in multi-currency is available
- No need of physical presence to open a bank account
- Minimum a week required to open your bank account
- Widely available for foreign nationals as well
- 24x7 online banking available
- Higher interest rates
Why form an offshore bank account with DNS?
We have been helping individuals and companies to open up their bank account in various offshore locations. We have a cumulative experience of over 25 years in forming bank account for our customers. The process is hassle free and you just need to share some basic documents with us after which our account manager will handle all the necessary paperwork.