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Get to Know About Cook Islands
The Cook Islands is located in the South Pacific Ocean. It is a self-governing island country; however, it has a free association with New Zealand. The archipelago comprises of 15 lands which collectively span over 240 square kilometers. The country has its own Prime Minister. However, the head of the state is Queen Elizabeth II, who is also the Queen of New Zealand. It also means that every Cook Island resident is a New Zealand national, but the reverse is not true.
Cook Islands had a GDP of $311 million in 2014 and a Per Capita Income of about $15,000. Taking the size in the account, we could say that it is a moderately developed country and has enough infrastructure for people to live comfortably. Also, doing business in the Cook Islands does have some good points for investors.
First comes the up-and-coming tourism industry. Cooks Islands is beautiful and more people around the world have been hearing about it; so the number of visitors is increasing. Also, the country has been making strides in the sectors of agriculture, fishing, and mining. The low taxes (the corporate tax is a flat 20%, and there are no wealth, gift, property, Capital Gains and death duty tax) can also intrigue investors.
However, doing business in the Cook Islands is not free of flaws. You will need to run your business on a remote island that doesn’t have a lot of population. Additionally, getting a skilled workforce might be a challenge, as many residents emigrate to other countries. Cyclones happen now and then, and homosexuality is illegal in the Cook Islands.