The Cook Islands Financial Services Commission (FSC) normally requires a trustee company to establish a physical presence in the Cook Islands. However, the FSC will licence a foreign trustee to carry on trustee business in the Cook Islands without establishing a physical presence if it enters into an approved managed trustee company services agreement with a resident trustee company. This enables a foreign trustee to operate a non resident trust business in the Cook Islands without giving up control of its client relationships, and at the same time retaining its own branding. With our directors having more than 50 years combined experience in trust company administration we are able to offer professional managed trustee company services to foreign trustees.
The trust industry in the Cook Islands is regulated and highly rated (ahead of New Zealand, Australia, and the USA) for compliance with various international anti money laundering bodies. The FSC does require a managed trustee company to appoint appropriately qualified anti money laundering personnel to monitor all client activity. We are able to provide appropriate officers where these must be resident in the Cook Islands.