The cost of a Cook Islands Trust depends on several factors, such as the type of trust, the complexity of the structure, and the professional services required to set up and maintain the trust. Generally, the cost to create a Cook Islands Trust ranges from USD $2,000-$10,000 depending on how complicated the structure is. This cost does not include the ongoing administration and management fees, which can range from USD $2,000-$7,000 annually. Additionally, there are other fees to consider such as asset transfer fees, hourly legal and accounting fees, and any other related costs that may be associated with the trust.
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Types of Trusts and Costs
The two types of Cook Islands Trusts are discretionary and protective trusts. A discretionary trust gives the Trustee complete control over the distribution of the trust assets, while a protective trust limits the Trustee to only making the distributions that the trust specifies. Discretionary trusts are typically more expensive to set up and administer than protective trusts due to the added complexity.
Other Costs to Consider
When establishing a Cook Islands Trust, there are a few other costs to consider. These include asset transfer fees, which can range from 2-7% of assets transferred, as well as any taxes or duties incurred. The Trustee will also incur legal and accounting fees on an hourly basis, as well as any other related costs. Lastly, the Trustee will need to pay for an annual audit of the trust.
The cost of a Cook Islands Trust depends on the type of trust, complexity of the structure, and professional services required. Generally, the cost to create a Cook Islands Trust ranges from USD $2,000-$10,000, with ongoing administration and management fees of USD $2,000-$7,000 annually. Additionally, there are other fees to consider such as asset transfer fees, hourly legal and accounting fees, and any other related costs. It is important to do your research and understand all the associated costs when considering setting up a Cook Islands Trust.
Cook Islands Law, Offshore Company, Cook Islands Law Society
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