COOK ISLANDS: BUSINESS BANKING AT YOUR FINGERTIPS
by Puai Wichman

2008-03

Doing banking business from the Cook Islands has never been easier. For the last few years the Cook Islands branch of ANZ, with total assets of AUD 177 billion (and one of the world’s 100 largest banks), has steadily improved its services to cater for the ever growing offshore financial services regime of the Cook Islands. It has not been an easy road, but ANZ has succeeded in bringing the Cook Islands to the forefront of banking in the world with the provision of cutting edge services to offshore customers.

ANZ has introduced an e-BIZ solution specifically for the Cook Islands offshore sector – which is a first. Finally, they have succeeded in providing international clients who utilize the Cook Islands offshore centre with the freedom to manage their business banking anytime and anywhere via the Internet. They stand alone in the provision of this service to offshore clients.

For clients looking for services that are tailored to their unique requirements, then we are able to offer banking services with Capital Security Bank Limited in the Cook Islands, a boutique private bank that is steadily gaining a reputation for its delivery of service. Add the fact that CSB can offer reasonable rates with minimal banking fees makes it worthy of consideration as a banking alternative for those seeking personal service.

From an offshore point of view, if you were to incorporate a Cook Islands international company or set up a Cook Islands international trust, we can have an account opened with the ANZ or CSB within a couple of weeks of receiving all necessary documentation. The usual due diligence requirements of certified passport copies and evidence of residence via utility bills remain, but the process is now streamlined such that two weeks for the opening of an account is considered slow.

ANZ e-BIZ runs on the secure ANZ network, which has a host of built in security features including SSL 128 bit encryption. Importantly, to access ANZ e-BIZ, you must have a unique Customer Registration Number and password.