ADB-supported online Companies, Incorporated Societies, and Personal Property Securities Registry launched in Cook Islands
The Prime Minister of the Cook Islands, Mr Henry Puna, speaks at the launch of the Cook Islands new Online Companies, Incorporated Societies, and Personal Property Securities Registry. Rarotonga, Cook Islands.
The Cook Islands now has a modern, online system for the registration and administration of companies, incorporated societies and personal property securities, making it easier to do business and access finance.
With support from PSDI, a new, integrated online registry was launched on Tuesday 10 December by the Cook Islands’ Ministry of Justice. The registry, which will improve the efficiency of doing business in the Cook Islands, and make it easier for businesses and individuals to access finance, was developed by the Government of Cook Islands with the support of ADB's Pacific Private Sector Development Initiative (PSDI) and the Government of New Zealand.
The combined Companies, Incorporated Societies, and Personal Property Securities Registry allows users to file and access company records, business names, business licenses, and incorporated associations, as well as register security interests over movable assets, from the one integrated resource.
The launch of the registry facilitates a broad reform program undertaken in the Cook Islands that has included the 2017 passing of a new, modernized Companies Act, a Personal Property Securities Act, and an Incorporated Societies (Amendment) Act. These reforms are part of a wider regional effort by PSDI to assist Pacific countries to introduce laws are tailored to the individual needs of Pacific small island economies.