Cook Islands' Asset Protection Trusts Drive Rapid Growth in Financial Services Sector
The Cook Islands' financial services sector is experiencing rapid growth, driven in part by international demand for asset protection trusts. The jurisdiction has developed a global reputation for its asset protection legislation, which has been in place for over four decades.
New international trust registrations rose 42 percent to a record 433 last year, almost 90 percent above the level recorded two years earlier. This growth is helping diversify the tourism-reliant nation through higher-value, low-environmental-impact services that can operate remotely during disruptions to international travel.
The sector now accounts for 8.54 percent of real GDP, up from 8.32 percent the previous year. Financial and insurance services contributed more than NZ$48 million to the economy in 2024/25, a 27 percent increase from NZ$38 million in 2019/20.
New Zealand professionals are set to benefit from this growth, as the sector creates dozens of roles for lawyers, accountants, and compliance specialists. Industry experts say the expansion could also create opportunities for New Zealand fintech and regulatory-technology firms providing trust administration, compliance, identity verification, cybersecurity, and international payment solutions.