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Form a Cook Islands Foundation

8.300,00 $

Set up a Cook Islands Foundation

Cook Islands foundations are orphan vehicles – a hybrid between a Trust and a Company.

Like a trust, such Cook Islands foundations are generally established to reflect the wishes of the Founder (like a Settlor) via an endowment of assets, which are managed by the council members (like a Trustee) for a specific purpose and/or for the benefit of its beneficiaries. In your case, it would be for a charitable purpose.

Like a company, such foundations are a legal entity with legal personality (as opposed to a Trust which is an agreement between the settlor and the trustee, but it is not a legal entity). Unlike a company, foundations have no shareholders, though they may have a board, an assembly, and voting members.

Foundations are hybrid in nature, containing features of the corporation (legal personality) and the trust (orphan).

A foundation may hold assets in its own name for the purposes (e.g. charitable) set out in its constitutive documents, and its administration and operation are carried out by the Council Members in accordance with the Foundation statutes or articles of association rather than fiduciary principles.

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Description

Note that our incorporation and annual corporate service fees are “all-included fees”, and cover all the required services to incorporate a Cook Islands foundation, and keep it in good standing, as well as government fees and duties, disbursements such as courier fees, and assignments such as the preparation of a certificate of incumbency, and the certification of documents, which are generally required for opening bank accounts.

Cook Islands Foundation Formation and First-Year Fees – USD 8,300.00 (All Included)

  • paying all applicable fees and duties to the Registrar of Foundations of Cook Islands;
  • drafting and filing the Instrument of the Foundation;
  • drafting the councillors’ acceptance letter;
  • drafting the Founder Resolution for the appointment of the first councillors;
  • drafting the First Resolution of the Councillors noting and resolving the formation of the foundation, appointment of councillors, adoption of regulations, appointment of registered office, etc;
  • providing the Certificate of Registration and Stamped Instrument;
  • drafting the Foundation Rules;
  • preparing the Register of Councillors, Register of Protectors and Supervisory Persons and Register of Registered Agents and Attorneys;
  • providing Registered Office service, including registered address, for one (1) year;
  • providing Registered Agent service for one (1) year;
  • safekeeping of registers, books and records for one (1) year;
  • providing certified true copies of the corporate documents;
  • posting the corporate documents to the client’s mailing address and settling courier fees; and
  • providing basic advice on standard corporate governance matters relating to statutory and regulatory obligations.

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