Open a corporate account with a Cook Islands bank remotely – 3,999 EUR

The Cook Islands is an independent state in the Southern Pacific to the south-west of Tahiti. It consists of fifteen small islands scattered in the ocean. The geographical position of the country allows dealing comfortably with both Asian and American partners. The bank that we are promoting here was founded in 1997 and it sees its mission as providing the highest quality private banking services. We invite you to consider the opportunity to set up a corporate account with this bank without leaving home. This possibility is especially valuable in the times when many of us are actually unable to travel anywhere even if we wanted to do that.

The recommended minimum deposit that you should make with the bank is US$ 20,000 USD. Since last year, the bank pays an interest on the deposits that exceed the specified amount.

The online banking platform allows easily checking the balance and viewing the transactions. You can also use it to make secure transfers and to give payment instructions to the bank officers.

A private bank that provides the full range of services

The bank has only one office that is located in the Cook Islands. This means that it has to conform to a single national legislation unlike huge international banking consortiums. Besides, the Cook Islands legislation is plain and transparent and the British-law-based judicial system is fair and professional.  

The laws of the country provide for a balanced level of personal financial information confidentiality for bank clients.

As the bank seeks to provide a full range of private banking services to the clients, its clients usually possess the following characteristics:

• They are high net worth individuals;
• They are after finding effective ways to protect their assets;
• They want private banking services to be of top quality;
• They are conservative investors;
• They want their personal financial information to be processed with great care.

The bank holds both the license for domestic banking operations and one for international operations.

A corporate account in most widely used national currencies

Companies with various forms of ownership are eligible to apply for services to the bank. You can set up an account in three major currencies there: USD, GBP, or EUR. It is also possible to open an account in a different national currency on a special request to the bank managers.

You can open a current account with the Cook Islands bank, make a fixed-term deposit, or use many other low-risk investment opportunities that it offers.

One more advantage that the bank boasts is the possibility to set up a separate card account. You can acquire a prepaid debit card from the bank when you open a current account there. All you have to do is file an application for the card thus availing yourself of the opportunity to use a secure payment instrument.

 Restrictions and limitations applicable to some countries

The bank managers consider the jurisdictions listed below high-risk jurisdictions. For this reason, companies (or their UBO’s) registered there will be unable to obtain services from the bank:  

1. Afghanistan
2. Bosnia and Herzegovina
3. Central African Republic
4. Democratic Republic of the Congo
5. Cote d’Ivoire
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

If the applicant company is domiciled in one of the following jurisdictions, it will have to undergo enhanced Due Diligence checks and meet stricter compliance requirements:

1. Algeria
2. Albania
3. Armenia
4. Azerbaijan
5. Belarus
6. Bolivia
7. Brazil
8. Burundi
9. Ecuador
10. Gaza Strip
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. Russian Federation
28. Sao Tome and Principe
29. Sierra Leone
30. Tanzania
31. Thailand
32. Ukraine
33. Vanuatu
34. Venezuela
35. West Bank

Please note that the lists of restricted countries change all the time. Thus, you should clarify with our specialists if the country of your company domiciliation is on any such list.

Prohibited and restricted types of company business activities

The Cook Islands bank will NOT service companies engaged in any of the business activities listed below:

• Illegal activities of any type;
• Unregulated and/ or unlicensed financial service providers;
• Financial institution that do not hold the required licenses;
• Prostitution, pornography, any materials with sexual content;
• Narcotics, recreation medicines, and online pharmacies;
• Trade in rough diamonds;
• Gambling, online and offline lotteries, casinos, and betting;
• Defense contractors, manufacturers and suppliers of weapons and ammunition, private security companies;
• Legal entities issue bearer shares or that are owned by holders of bearer shares;
• Shell banks;
• Tobacco, cigars, cigarettes including electronic cigarettes and their accessories;
• Illegal activities related to the wild nature;
• Counterfeit products;
• Dating agencies;
• Telemarketing;
• Chemicals.

In case your company deals in any of the business areas specified below, enhanced Due Diligence procedures will be applied before the corporate account can be opened:

• Companies that provide various kinds of consultation services;
• Companies that use cash in large amounts such as retail stores, groceries, hotels, restaurants, taxi companies, and so on;
• Companies that accept third parties’ money with the purpose of investing it;
• Precious stone and metal dealers;
• Computer and technical appliance retailers;
• Debt collectors;
• Pharmacies and traders in pharmaceuticals;
• Trading firms or exchange markets dealing in non-fiat or foreign currency exchange;
• Online games providers;
• Used car dealers and used car spare parts dealers;
• Labor brokers;
• Multilevel marketing firms;
• Companies engaged in court trial financing.

The list of restricted types of business activities can also change overtime. So please consult our specialists on this matter when applying for opening a corporate account in the Cook Islands bank.

A trading account with the Cook Island bank  

The bank provides access to investment and trading platforms, which allows trading on around forty exchanges worldwide. The assets are kept with a custodian and thus the clients can be certain that their investments are safe.  

You will have secure access to your investment portfolio and you will be able to manage your investments effectively making selling or purchasing orders when you wish. You will also be able to see the investment ranges available with different exchanges.

A trading account with the Cook Islands bank will give you access to many markets including the following ones:

Precious metal account with the Cook Islands bank

You can also set up a precious metal account with this bank. This means that you can purchase physical gold and silver in coins and bullions and keep the metals in a special treasure house that is located in New Zealand.

You can not only buy precious metals but also sell them at any moment you like. Besides, you can arrange for a personal visit to the treasure house to see your gold and silver. Moreover, you can have the metals transported to any other place.

You can use the online platform to keep track of your precious metal account balance and to securely issue account management instructions.

Investment account with the Cook Islands bank

An investment account provides for the possibility to effectively manage your investments via the bank that we are advertising here.

The bank puts forward very few requirements to the types of assets that you can invest into. You can own shares, bonds, raw materials, currencies, mutual funds, and so on. You can discuss with your investment manager what assets you want to put money in.

You are free to choose the investment manager that you prefer as the bank is not going to assign one to you at their own discretion. Your personal manager can manage your investment portfolio that you keep with the Cook Islands bank.

The information that you will have supplied when applying for a current account is going to be sufficient for setting up an investment account in most cases. However, individual investment managers may request some additional information from you.

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

In order to launch the procedure you have to do the following:

1. Apply for our professional assistance in opening a corporate bank account by writing to [email protected].

1. Cover the cost of our professional services via any payment method you prefer such as a bank transfer or a credit card. We also accept payments made through WebMoney, PayPal, and Western Union. The service price is:

• From EUR 3,999 if your company does not have nominees;
• From EUR 4,999 if your company does have nominees.

3. Collect all the application documents that are required for setting up a corporate bank account in Cook Islands.

The application document package required for opening a corporate account with the Cook Islands bank

First, you will have to fill out, sign, scan, and send us the bank application forms that we will have provided to you. This is required for obtaining a preapproval from the bank.

Each company beneficiary will have to supply the following documents:

• A notarized copy of the foreign passport;
• A proof of residential address (a notarized copy or the original of a recent utility bill or a bank statement);
• A brief résumé.

The required corporate documents:

• Certificate of Company Formation/ Incorporation/ Registration;
• A copy of the Memorandum and Articles of Association/ Bylaws/ Operating Agreement;
• Certificate of Good Standing (this requirement applies if the company has been in operation for over one year);
• A copy of the company Director’s resolution to set up a corporate account in the Cook Islands bank.

In addition to that, you will have to supply a description of the company business activities that should include such items as yearly turnover, company partners, regions of operations, mutual payment arrangements, company management diagram, and the like. This document needs to be signed by an authorized company official.

Please note that all application documents have to be made in English or translated into this language and notarized. Please also be aware that the bank may request some additional documents.

It is going to take the bank approximately twenty days since the date when the completed application forms are submitted to review your application for opening a corporate account there. When you obtain the application preapproval, you will have to send document originals by mail.

If you are interested in this offer, please contact us today via e-mail [email protected]. We will be happy to answer all your queries should you have any.