Corporation Rules For House Construction In Cook
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FAQ
Foreigners cannot own land in the Cook Islands but may lease land for up to 60 years. What is the minimum investment capital into the Cook Islands?
Building in the Cook Islands is legislated for by the Building Control and Standards Act 1991, the Building Control and Standards Regulations 1991 and the Building Code 2019. A new Bill and regulations are in development and we expect to see them enacted during 2024.
The northern islands are atolls (ring-shaped coral islands) while the southern islands, except for two small atolls, are of volcanic origin. Te Manga on Rarotonga is the highest peak at 652 m. The climate is tropical and mild, with constant high humidity and a mean annual temperature of 24° C on Rarotonga.
Native land in the Cook Islands cannot be bought or sold, except to the government for public purposes. This is the case whether the land is registered as native freehold title or is land managed under customary practices.
Building setback from boundaries – 5m from the edge of the Ara Tapu, 4m from Ara Metua and 1.5m from other boundaries in Rarotonga. 3m and 1.5m for the Pa Enua. Maximum building height – maximum building height allowed is 12m.
Value Added Tax This tax is 15.0 per cent and is payable on taxable activities. Taxable activities Any activity carried out continuously or regularly, involving the supply of goods or services to any other person for a consideration, but not necessarily for a profit.
The standard corporate tax rate for companies is 20%.
The economy of the Cook Islands is based mainly on tourism, with minor exports made up of tropical and citrus fruit. Manufacturing activities are limited to fruit-processing, clothing and handicrafts.
The countries with the highest corporate tax rates in the world are Comoros (50 percent), Puerto Rico (37.5 percent), and Suriname (36 percent), while the countries with the lowest corporate rates are Turkmenistan (8 percent), Barbados, United Arab Emirates, and Hungary (all at 9 percent).
