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Cook Islands Strives for Financial Integrity

The Cook Islands Government has made significant efforts to strengthen its financial regulations, prioritizing compliance with international standards and tackling money laundering, tax evasion, and other financial crimes.

Strengthening Regulations

To meet these requirements, the government has enacted laws and regulations that align with global norms. The country has integrated the Foreign Account Tax Compliance Act (FATCA) and the Common Reporting Standard (CRS) into its legal framework, enabling automatic sharing of financial information with partner countries. Furthermore, the Financial Transactions Reporting Act 2017 has bolstered the Anti-Money Laundering/Countering the Financing of Terrorism (AML/CFT) regime, ensuring compliance with the Financial Action Task Force’s (FATF) recommendations.

A Cooperative Jurisdiction

The Cook Islands’ commitment to international cooperation is evident in its membership of the Organisation for Economic Co-operation and Development’s (OECD) Inclusive Framework on Base Erosion and Profit Shifting (BEPS). By eliminating preferential tax regimes, the country has been recognized as a cooperative tax jurisdiction.

Finding a Balance

The Cook Islands’ approach to financial regulations is characterized by a delicate balance between meeting international obligations and protecting legitimate businesses. While personal information remains safeguarded, investigative powers are maintained to ensure that information sharing adheres strictly to legal provisions, thereby deterring fishing expeditions.

Enhancing Credibility

This approach has enhanced the Cook Islands’ credibility globally, reassuring governments, institutions, businesses, and individuals of its commitment to transparency and compliance. As a result, the jurisdiction’s appeal for international trade and financial transactions has been strengthened, promoting a secure and stable environment for economic growth.

Getting in Touch

If you’re interested in exploring the Cook Islands’ financial regulations further or would like more information on how to comply with these regulations, contact the Financial Supervisory Department of the Cook Islands:

• P.O. Box 3255

• Clarkes Building, Parekura

• Rarotonga, COOK ISLANDS

  Email: enquiry@fsda.gov.ck Phone: +682 21-175

  Office Hours: Monday to Friday: 8am - 4pm Saturday and Sunday: Closed