The Cook Islands is one of the most popular destinations for organizations and individuals. Particularly, this destination is for those seeking a secure atmosphere. Organizations interested in establishing trust for financial management and asset protection choose it. With their investment in this land, many look for the best offshore protection of their properties. Here, Cook Island Trust can help.
The trusts on this Island are governed by the Cook Islands International Trust Act. This act holds the pride of being the world’s leading asset protection legislation. It has been designed to bring a wide range of advantages to the beneficiaries. This Act has set the standard not only for this jurisdiction but also for other jurisdictions that seek to engage in this niche.
Cook Island Trust – The Meaning
The Cook Island Trust is the legal arrangement. It has been established under the jurisdiction of the Cook Islands. This trust holds the pride of being a territory that governs itself in the South Pacific Ocean. It does it in close connotation with New Zealand.
In this deal, an organization or individual referred to as the settlor will do one thing. The Settlor will transfer the assets to a trustee. This trustee will take care of those assets for the advantage of the trust beneficiaries. This person is generally a licensed trust company that functions in the Cook Islands. This company will ensure compliance with local regulations and legislation.
Features of Cook Island Trusts
Cook Island Trusts carry some unique features:
- Ability to establish trust for different purposes
- The purposes include investment, business, family and charitable purposes
- The jurisdiction offers a high level of confidentiality
- Beneficiaries, trustees and trust settlors can benefit from this confidentiality
- They will give this opportunity with restricted public disclosure needs.
- Furthermore, Cook Island Trusts offer strong protection to assets.
- Assets stay protected from probable claims made by creditors
- The jurisdiction uses different preventive measures
- It ensures that the assets held remain unreachable
- Strong resistance to foreign judgments
- So, assets held within the trust remain well-protected from seizure and other legal actions
- The decisions made by foreign courts and creditors do not affect the properties held by Cook Island Trust
In short, you can expect the best offshore protection for your properties by selecting the right Cook Island Trust. The level of protection in combination makes it an attractive option. The confidentiality and flexibility also make it a viable option.