In the Cook Islands, PSDI-supported reforms are making it easier to start, manage, and finance a business.
We have been working with the Government of Cook Islands to:
Develop a secured transactions framework that will make it easier for lenders to accept movable assets as collateral;
- Design and develop an online domestic Companies, Incorporated Societies, and Personal Property Securities Registry, which launched in December 2019;
Create clear and inclusive company laws, including the Companies Bill, which passed Cook Islands Parliament in December 2017, and became active with the December 2019 registry launch;
Strengthen the financial position of Bank of Cook Islands, and build its capacity to identify and manage operational risks;
Review the legislative, governance, and monitoring framework for Cook Islands’ SOEs; and
Support reforms through advocacy and analysis, including a comprehensive assessment of the private sector published in 2015: The Cook Islands: Stronger Investment Climate for Sustainable Growth.
Resources and Spending
PSDI has increased its activity in the Cook Islands over the past few years, with almost one-third of the $1,459,028 in total funding spent in 2018–2019.
Spending on business law reform, which includes the development of an online companies registry and associated legal reform, accounts for 52% of all spending in the Cook Islands. Competition and Consumer Protection received the second highest proportion—20%—of overall allocations to Cook Islands. This included the preparation of a Telecommunications Bill and a Multi-sector Regulator Bill, which both passed Parliament in 2019.
On this website, $ refers to US dollars unless otherwise stated.
For detailed information on PSDI activities in the Cook Islands, download the April 2020 PSDI Country Overview here.
Cook Islands at a glance
Modern, locally tailored business laws
Online business registrations
Secured transactions reform
Private sector assessment
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PSDI has supported the development of a new suite of business laws that make it easier to do business and access finance in the Cook Islands.